Wednesday, June 19, 2024
BusinessCommercial Nominees to amend contracts for outsource workers

Commercial Nominees to amend contracts for outsource workers

It has been blasted for charging hefty commissions to outsourced workers

Commercial Nominees (CN) is preparing to amend the contracts of the workers it hired as a private agency for the Commercial Bank of Ethiopia. Guards, who make up the majority of staff, have been protesting that they are underpaid, citing CN’s high commission payments.

Established in 1965, CN is an agent and private employment and management service company for CBE, with over 30,000 people under its umbrella. After signing the agreement, the salaries of the contracted employees would be adjusted in the current budget year, according to a source at CN.

Changes to the base salary, a percentage increase, new salary limits, and bonuses are all part of the contract adjustment.

CN works with CBE and more than five private banks, the Ethio-Djibouti Railway, the Ethiopian Roads Authority, and other non-governmental institutions. The company is also involved in about 13 services, including providing employees, which creates 35,000 job opportunities.

- Advertisement -

Last July, a three-month salary bonus and salary increase were given to the permanent and contract workers of Commercial Nominees.

The three-month salary bonus also included a 30 percent salary increase for all outsourced employees assigned to the CBE. Based on an agreement with its employees, all outsourced employees of CN who were sent to organizations other than the CBE received a two-month bonus and a pay raise.

“The current contract reform will be twice as good as the one made in July,” the source said.

CN has been the subject of repeated complaints regarding the payment of wages to its employees. The company amended the contract agreement for CBE employees in a bid to reduce the complaints that had been brewing amongst employees, according to Efrem Mekuriya, deputy manager for human resources at CBE.

CN engages in real estate administration, salary payment service, and CBE birr agent banking on behalf of its customers.

- Advertisement -spot_img


- Advertisement -


More like this

NBE ups gold purchase premiums in bid to fight smuggling

The National Bank of Ethiopia (NBE) has raised its...

Unprecedented budget proposal draws parliamentary fire, exposes inequity, inefficiency

It was with his usual nonchalance that Finance Minister...

Loan exposure worries give rise to barrage of NBE directives

Central bank Governor Mamo Mihretu has introduced a series...

Bills look to grant broader investigative powers over money laundering, terrorism financing

MPs fear bills aim at muffling opposition parties Lawmakers...