The management of the National Microfinance Bank (NMB) yesterday signed an agreement with its workers in which the former will pay the latter 50 per cent of their terminal benefit in lump sum.
Under the agreement, the management agreed to distribute 5 per cent of the 21 government shares in the bank to the workers.
Following the agreement, NMB management yesterday withdrew a suit it had filed at the High Court Labour Division against TUICO leaders for organizing an illegal strike.
On Monday, NMB workers across the country went on strike to press for the signing of an agreement on their welfare knocked into shape at previous tripartite talks.
The strike, which paralyzed the bank`s services across Tanzania was ended by the Labour Division of the High Court of Tanzania that gave NMB workers three hours to report back to work, effectively ending a countrywide strike.
SOURCE: Guardian
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