Up to 75% of jobs have been lost in Zimbabwe’s banking sector since 2000, according to the Zimbabwe Banks and Allied Workers Union (ZIBAWU).

The decline has been linked to accelerated digitisation and socio-political challenges facing the country over the past 20 years.

Trade unionist Peter Mutasa showed his concern about the dwindling workforce during talks with NewZimbabwe.com following a high-level convention that gathered together workers from Zimbabwe’s banking sector.

“The congress coincided with extremely difficult operating conditions, which have constrained our ability to effectively serve our members. The economy, experiencing stagnation for decades, has taken a significant toll on trade unionism,” he stated.

Mutasa emphasised the fall in membership from a high of 12,000 in the late 1990s to around 3,000 currently. He said the principal reasons were the substantial transformations in the sector, such as a rise in digitalisation and automation

The trade unionist went on to add that high unemployment has negatively impacted collective bargaining and also criticised restrictive labour laws complicated further by a toxic political environment.

Mutasa also said that the convention highlighted the fact that due to work demands and economic and social crises, an increasing number of bankers were facing mental health issues. Furthermore, the convention underscored Zimbabwe’s inadequate social security, with many workers retiring without sufficient financial security and pensions, Africa News reports.

“We noted that most of the problems we face are not emanating from the labour market but from politics. We agreed that we have a governance crisis affecting the economy, society, and public services. Therefore, we resolved to build an active citizenry through massive civic and political education for our members and communities,” he went on to say.