Dr. Rajan Mahtani is a noted individual and famous businessman in Zambia. He is responsible for many established companies across the nation. One of them is Finance Bank Zambia that rose to prominence since its inception. With hard work and dedication, Dr. Mahtani helped Finance Bank become one of the top banks in Zambia. However, things changed when the bank was handed over to BancABC (African Banking Corporation Zambia Limited). Though the handing over was done with good intentions, the recent revelations suggest otherwise.

It has been observed from various sources that the bank employees of Finance Bank are not happy with their new employer. The main reason is the mismanagement of the employee contract. Many of the employees have alleged that they are being asked to sign a new employment contract, whose terms and conditions are still not clear. It is also found that the new employer has given an ultimatum to the employees to either sign the new contract or give resignation. This type of behavior is unacceptable and unethical as per the labour ministry. Some of the employees reached out to a local newspaper and complained that those who left the organization did not receive their severance package yet. Employees are also arguing that since they have not seen their new contract of employment, they are not ready to sign, putting them in a rather difficult position.

Finance Bank Zambia has always been under the good books of the law and ministries and also received many awards and honors for its contribution to the society. The bank’s image is going down since its takeover and this time, it is the owner themselves who are not adhering to the law. The labour ministry has also issued notices to the firm to straighten its activities and given relevant information and importance to the employees.