The Industrial Relations Court has ordered National Bank of Malawi to pay 99 former employees of Indebank a total of K1.72 billion for unfair dismissal.
The employees were retrenched when NBM bought Indebank in 2015.
In an Order on Assessment of Compensation delivered on Tuesday, Industrial Relations Court Deputy Chairperson Innocent Nebi has 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.
Source:Times