BLANTYRE-(MaraviPost)-The Industrial Relations Court has ordered National Bank of Malawi (NBM) Plc to pay 99 former employees of Indebank a total of MK1.72 billion for unfair dismissal.
The employees were retrenched when NBM bought Indebank in 2015.
This is according to Order on Assessment of Compensation delivered on Tuesday, February 1, 2023 whose copy The Maravi Post is in possession.
The Industrial Relations Court Deputy Chairperson Innocent Nebi has therefore given NBM 14 days to square the amount.
The compensation follows the judgment the court delivered on November 10, 2021 where it established that the employees were unfairly dismissed and directed that they be compensated.
The bank is yet to respond on the matter.
