EMS TRADE UNIONS PROJECT
Work of Stephen Nyarko GR9P
Date Started: 30th of April 2024
An affiliate of the organization, COSATU. In
this document further information and details
will be provided on SASBO.
Contents:
History, Membership, Goals, Constitution and
Recent Campaigning
History of SASBO
The organization SASBO, formerly known as the South African Society of Bank Officials, – now known as The
Finance Union – was formed in February 1916. Inherently making it the oldest bank trade union in the
Commonwealth.
However before it now aged so much, in the beginning during those times one required a significant amount of
EMS TRADE UNIONS PROJECT
Work of Stephen Nyarko GR9P
Date Started: 30th of April 2024
courage and resilience to be apart of a movement of such. Pioneers faced the very risky reality of losing their
occupation if their affiliation became known, as dismissal from the bank was a very likely consequence.
In its early days, SASBO operated with utmost secrecy, requiring proof of identity for admission to meetings and
cautioning members to avoid detection. The union’s formation was driven by the hardships of the Great War era,
worsened by the banks resistance to alleviate staff plight. With bank managers enjoying relatively high salaries,
while lower-ranking employees struggled, change was bound to occur. Leonard Trevor, an influential figure at
Standard Bank, is credited as the union’s founder though passing early in 1923. His courage and leadership inspired
others, including Gilbert Matravers and Ernest Wheals, who occupied significant roles. SASBO’s early members,
such as GC Edmonds and JP Moore, contributed to its growth across South Africa, with figures like FR Swan and HC
Greenless active in Durban and JPF Grose in Port Elizabeth.
Recognition At Last – Initially, SASBO aimed to gain recognition from banks as the representative of their
employees, but banks resisted, claiming they already addressed staff concerns. However, the National Bank
eventually agreed to recognize SASBO, leading to negotiations on various issues such as overtime pay. SASBO
attempted to involve the government to establish joint boards for bank recognition, but as this effort failed due to
legal limitations. A strike ballot in 1920 prompted a conference where a recognition agreement with conciliation
boards was drafted. Dispute arose over the interpretation of the agreement, leading to arbitration. SASBO
requested joint clarification from the banks, which they initially refused. The Secretary of Mines proposed a joint
meeting to resolve disputes and discuss arbitration, but the banks declined. SASBO proceeded with a strike ballot,
focusing on joint clarification of the arbitration award and immediate arbitration for a comprehensive grading
scheme for official’s remuneration.
Growing membership – In mid 1917, a circular revealed that SASBO had established a presence in 86 South African
towns and had members in 125 bank branches. Membership stood at 90% along the West Rand and 95% in
Pretoria. A meeting in Cape Town on July 18, 1917, addressed by Mr. Morris Alexander, M.L.A, was reported. By the
end of 1917, membership exceeded 1000, starting from only 3 less than two years prior. Initially, membership was
restricted to men, with women only being allowed to join later. Just before the famous strike on December 1920,
total enrollments reached 3875, however at that time exclusively male.
The early relationship with the banks – The establishment and progress of SASBO were met with resistance from
the South African commercial banks, notably the National Bank of South Africa Limited, the African Banking
Corporation, the Netherlands Bank of South Africa Limited, and the Standard Bank of South Africa Ltd. The
Standard Bank emerged as the main adversary in those early days. Despite efforts to intimidate individuals and
disperse union leaders, these tactics backfired, spreading awareness and support for SASBO. Some banks,
alternatively, attempted to persuade employees to form internal guilds or company unions, however with limited
success. Instances of intimidation, such as the attempted transfer and subsequent dismissal of Matravers from
Standard Bank, led to increased union membership. Additionally, a motion was proposed for the early introduction
of a bill to register and regulate trade unions, along with legislation for settling industrial disputes, which was
carried with a majority vote.
The first bank strike - The strike, favoured by the ballot, commenced on December 22, 1920. Despite a few
expectations, it was widely successful, with a notable aspect being the steadfast support of female clerks, even
though they were initially excluded from SASBO membership. Their solidarity with male colleagues earned them
entry into the union and immediate respect. Subsequently, the strike led to arbitration and the issuance of the
Aiken-Lewis Award in April 1921. While not flawless, the award provided graded positions and established
regulated salary scales, which remained unchanged until 1937. With this development, it can be said that the early
phase of the union concluded, making the beginning of a new era.
Consequently from this point the information will be heavily condensed as the main part of the union’s formation has
been explained.
EMS TRADE UNIONS PROJECT
Work of Stephen Nyarko GR9P
Date Started: 30th of April 2024
From this point forward, SASBO and the Associated Banks, reduced to two after the withdrawal of the Netherlands
Bank and the absorption of the African Banking Corporation by Standard Bank, engaged in a series of private
conciliation boards over several years. Initially, progress was slow as SASBO felt that bank representatives arrived
with predetermined responses and limited negotiation powers. However, over time, mutual understanding
improved.
During the depression of the early 1930s, little could be done to enhance conditions, but salaries remained intact,
albeit with the temporary disappearance of bonuses. In January 1936, SASBO successfully reinstated the bonus and
negotiated some overtime payment terms. In February 1937, minor salary improvements were agreed upon.
During World War II, SASBO refrained from demanding increased basic salaries but negotiated improved cost-ofliving allowances, particularly favouring married officials. The labour shortage during the war led to increased
recruitment of women in the banks.
In October 1945, a private conciliation board convened in Cape Town to address SASBO’s demands for pension
rights, improved salary scales, and a new overtime agreement. While an agreement was reached on overtime, the
board failed to resolve the other issues. For the first time, SASBO resorted to a conciliation board under the
Industrial Conciliation Act.
As economic changes accelerated, conciliation boards became more frequent. Despite efforts at compromise,
significant differences emerged between SASBO and the banks. In Southern Rhodesia, these differences led to the
formation of the Temporary Industrial Council, which ultimately resulted in compulsory arbitration in 1951. In South
Africa, salary negotiations reached an impasse, leading to arbitration in 1956, resulting in substantial salary
increases. SASBO operated across various territories, with membership primarily in Barclays Bank DCO and the
Standard Bank of South Africa Ltd. The union operated through branches that provided advisory functions to the
General Council. Regular branch conferences determined future policy.
The appointment if Richard Huldane as General Secretary in 1943, the return of soldiers to banking jobs post-World
War II, and the emergence of women in SASBO sparked a period of dynamism. SASBO advocated for fair treatment
for all, even in a strictly apolitical stance. This ethos influenced its efforts to challenge employment apartheid
restriction from the early 1970s.
In the early 1980s, SASBO responded to calls to recruit members from other financial institutions, culminating in its
merger with other unions in the 1990s. SASBO evolved into the national union for South African finance workers,
with a diverse membership exceeding 66 800 individuals from various backgrounds.
Membership of SASBO
Joining the SASBO family
SASBO, a pivotal force in the finance sector, hinges on membership strength. Its regional organisers, stationed
across six offices, recruit and assist members, embodying the union's ethos. Membership drives are vital, guided by
the SASBO Constitution, governing all union activities.
Branch executive committees, elected annually from local members, address daily concerns and foster
communication between members and union officials. Workplace shop stewards, elected by peers, represent
members' interests at the workplace, liaising with branch committees and SASBO officials.
The National Executive Congress shapes union policy and elects key officials, while institutional national councils
manage institution-specific matters, setting the pace for SASBO's interaction with major banks. Negotiation teams,
comprising SASBO members and staff, champion member interests at the bargaining table.
Smaller institutions' representatives, shop stewards, and elected SJC members ensure comprehensive
representation across the union. Memnet, SASBO's electronic network, facilitates swift communication and
feedback among members.
MANCOM, overseeing finances and staff appointments, ensures member-driven operations. The general
secretariat, led by full-time professionals, implements union policy and direction, ensuring smooth functioning.
In essence, SASBO thrives on membership involvement and professional support, sustaining its role as a robust
advocate for finance workers' rights.
Additionally there are an estimated 73 000 members in SASBO
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Work of Stephen Nyarko GR9P
Date Started: 30th of April 2024
Goals of SASBO
The main goal of SASBO as a trade union is to enhance service conditions, safeguard the interests of its members,
both individually and collectively, concerning their employers and beyond, and to elevate their overall standing.
How SASBO strives to achieve their main goal is by operating within the South African finance sector and aligning
itself with the professional ethics and standard of finance professionals. The union actively promotes sound
industrial relations with employers and their organizations, seeking to resolve conflicts peacefully and
constructively through conciliatory methods. Committed to fair and honest dealings, SASBO upholds integrity in all
directions with stakeholders, ensuring that its operations adhere to labour laws and other regulations. By fostering
mutual respect and co-operation between employers and employees, SASBO aims to improve service conditions,
protect member interests, and elevate their overall status within the industry.
Other Goals of SASBO are:
 Increasing membership – SASBO aims to expand its membership base to strengthen its influence and
bargaining power in the finance sector.
 Ensuring fair working conditions: SASBO negotiates with employers to secure fair salaries benefits and
working conditions for its members.
 Upholding union values: SASBO operates within the framework its constitution, which guides its activities
and ensures alignment with its core values and principles.
 Promoting member involvement: SASBO encourages active participation from its members in branch
committees, workplace structures, and decision-making processes to ensure their voices are heard and
their needs addressed.
Constitution of SASBO
**1. Name:** The union is called Sasbo – The Finance Union.
**2. Definitions:**
- **Member:** Anyone working in a financial institution who has paid their union dues.
- **Financial Institution Undertaking:** Businesses where employers and employees are involved in financial
activities.
- **Financial Institution:** Includes banks, insurers, pension funds, and other financial entities listed in detail.
- **Act:** Refers to the Labour Relations Act.
- **Masculine includes feminine:** In this document, when "he" or "his" is mentioned, it also applies to women.
**3. Objects:**
- **Encouragement to join:** Encouraging eligible individuals to become members.
- **Improve conditions and protect interests:** Ensuring fair treatment and advocating for members.
- **Regulate relations:** Handling disputes between members and employers amicably.
- **Promote unity:** Establishing connections with other unions for mutual support and strength.
- **Establish funds:** Creating funds for members' benefit, administered according to rules.
- **Promote social interaction:** Encouraging camaraderie among members.
- **Legislative advocacy:** Monitoring laws affecting members' interests and advocating accordingly.
- **Disseminate information:** Sharing relevant and useful information with members.
- **Manage funds:** Handling union funds responsibly.
- **Lawful actions:** Acting in the union's best interests within legal bounds.
**4. Status and Headquarters:**
- **Legal entity:** The union is legally recognized and can enter contracts and lawsuits.
- **Non-profit organization:** Operates for the benefit of its members.
- **Headquarters:** Located within 80 kilometers of Johannesburg.
**5. Membership:**
- **Eligibility:** Anyone employed in a South African financial institution can join.
EMS TRADE UNIONS PROJECT
Work of Stephen Nyarko GR9P
Date Started: 30th of April 2024
- **Selection and termination:** Members are elected by vote and can be terminated by the national executive
congress.
- **Honorary members:** Individuals supportive of the union may be granted honorary status but cannot vote.
- **Special memberships:** Long-time members may receive special recognition.
- **Resignation:** Members can resign by giving written notice.
**6. Subscriptions and Levies:**
- **Annual dues:** Determined by the management committee, not exceeding a specified amount.
- **Subscription payment:** Due annually on January 1st, payable monthly.
- **Joining during the year:** New members pay a prorated subscription based on their entry month.
- **Special levies:** Occasionally, the union may impose additional fees for specific purposes, subject to member
approval.
**7. Finance and Budget:**
- **Use of funds:** Union funds are used for expenses, acquiring property, and achieving union objectives.
- **Budget approval:** Any payments exceeding a set amount not included in the annual budget require
management committee approval.
- **Petty cash:** Funds for petty expenses are managed according to guidelines set by the management
committee.
- **Financial year:** The union's financial year ends on December 31st.
**8. Legal Assistance:**
- **Legal support:** The management committee can seek legal assistance to protect members' interests and
cover associated costs.
**9. Office Bearers:**
- **President, Deputy President, and Vice-Presidents:** Elected from members of the national executive
congress and institutional national councils.
- **Election process:** Nominations are submitted and elections held, with term limits and procedures for
vacancies outlined.
- **Duties:** Defined responsibilities for each role, including presiding over meetings and performing specific
functions.
**10. Paid Officials of the Union:**
- **General Secretary:** Appointed by the management committee, responsible for administrative and
managerial duties, including financial management, correspondence, and meeting arrangements.
- **Duties:** Supervising union affairs, enforcing the constitution, managing the office, conducting
correspondence, financial reporting, membership records, banking, legal compliance, and staff management.
- **Voting:** The general secretary doesn't vote on union matters unless representing the union on specific
councils or committees.
**11. Removal and Re-instatement of Office Bearers and Officials:**
- **Removal process:** If at least 30% of members request a ballot to remove an office bearer or official, and at
least 80% of members vote in favor, the individual is removed.
- **Re-instatement:** If at least 30% of members request a ballot to re-instate a removed office bearer or official,
and at least 60% of members vote in favor, the individual is re-instated.
- **Grounds for dismissal of the general secretary:** Serious neglect of duty or misconduct, acts detrimental to
the union's interests, failure to carry out duties, or grounds for summary dismissal as per common law.
**12. National Executive Congress:**
- **Composition:** Comprised of elected delegates from branches and institutional national councils, along with
additional delegates nominated by the general secretary.
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Work of Stephen Nyarko GR9P
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- **Powers:** Includes electing the president and deputy president, appointing the management committee,
reviewing decisions, establishing policy, and more.
- **Eligibility:** Criteria for eligibility for election or co-option to the national executive congress, including tenure
and subscription status.
- **Meetings:** Regular meetings with agendas and notice provided to delegates.
**13. Management Committee:**
- **Composition:** Consists of elected members and certain office bearers.
- **Duties:** Safeguarding financial interests, managing staff matters, deciding remuneration, handling property
matters, and making decisions on behalf of the union.
- **Meetings:** Regular meetings scheduled by the general secretary.
- **Quorum:** Minimum number of members required for a valid meeting.
- **Powers:** Includes financial decisions, property transactions, investments, fee structures, and more.
- **Banking:** Procedures for banking accounts and payments.
- **Accounts:** Requirements for proper accounting and annual audits.
- **Expenses:** Guidelines for reimbursing members and officials for expenses incurred on union business.
- **Expenditure:** Limits on expenditure without prior approval.
**14. Branches:**
- **Establishment:** Branches can be formed where there are at least 100 members, with exceptions permitted by
the national executive congress under special circumstances.
- **Application:** Requires written request by at least 15 members in the area concerned.
- **Inaugural meeting:** Held upon approval, where a branch executive committee and branch secretary are
elected.
- **Investigation:** The national executive congress can investigate branch affairs at any time without providing a
reason.
- **Expenses:** Branches can incur certain expenses with prior approval from the management committee.
- **Reporting:** Branches must send meeting minutes to headquarters and keep them informed of branch
committee members.
- **Membership applications:** Branches review membership applications and forward them to the general
secretary with recommendations.
- **Fundraising:** Branches can raise funds through various activities, administered by the branch executive
committee.
- **Allowances:** Members of the branch executive committee receive allowances for attending meetings.
15. **Branch Meetings:**
- **General meetings:** Can be held, with special meetings called upon request or by the branch executive
committee.
- **Notice:** Notice of meetings must be provided to members, with shorter notice for special meetings.
- **Quorum:** Minimum number of members required for a valid meeting, with provisions for adjournment if
quorum not met.
- **Decision making:** Voting on motions, with provisions for secret ballots if proposed.
- **Frequency:** Regular meetings of the branch executive committee and sub-committees, with quorum
requirements.
- **Notification:** Members must be notified of meetings, with agendas attached.
16. **Branch Officers and Executive Committee:**
- **Management:** Affairs managed by a branch executive committee elected at the annual general meeting.
- **Composition:** Committee consists of chairman, vice-chairman(s), and members elected by the general
meeting.
- **Vacancies:** Filled by remaining committee members, with appointed members serving the remainder of the
term.
- **Resignation:** Members may resign with notice or be discharged for neglect of duty or misconduct.
EMS TRADE UNIONS PROJECT
Work of Stephen Nyarko GR9P
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- **Duties of branch secretaries:** Administrative responsibilities including record keeping, correspondence,
membership management, and financial duties.
- **Nominations:** Process for nominating members to the branch executive committee.
- **Powers:** Committee can appoint sub-committees, open bank accounts, establish branch bye-laws, and act in
the branch's interest
17. **Disputes**: If members and their branches have disagreements on union matters that can't be resolved, they
go to the national executive congress for a decision.
18. **Trade Union Representatives**: Each financial institution where the union is recognized can elect
representatives known as Sasbo representatives. Their roles and elections are governed by collective agreements.
19. **Institutional Structures**:
- **Institutional National Councils**: These councils, formed in institutions with at least 10,000 members, handle
negotiations and dealings with specific institutions.
- **Powers**: They have various powers, including electing a vice-president, forming bargaining forums,
appointing sub-committees, and reviewing decisions.
- **Eligibility**: To be eligible for election, one must have served on a branch executive committee for two years
or been a union member for at least five years.
- **Meetings**: They meet twice a year, and agendas are provided in advance.
- **Voting**: Motions are decided by a show of hands, but a secret ballot can be requested. Important actions
require a ballot vote.
- **Expenses**: Members attending meetings are reimbursed for their expenses.
Similar rules and structures exist for institutions with between 500 and 10,000 members and those with up to 500
members, but with adjustments to the number of representatives, meeting frequency, and other details.
20. **Appeals**: Members have the right to appeal decisions of branch committees or sub-committees to the
national executive congress, whose decision is final.
21. **Voting Rights**: Members with subscriptions three months or more in arrears cannot vote on any matter.
22. **Voting on Matters of Vital Importance**: Decisions on matters affecting the entire union, specific
institutional member groups, or other specific member groups are decided by different bodies, with proper notice
given.
23. **Ballots**: Ballots are conducted for various reasons, including submitting propositions or amendments to a
vote, with specific procedures outlined for conducting the ballot.
24. **Infringements**: Members lose benefits and voting rights if subscriptions are more than three months in
arrears or during suspension. A committee deals with breaches of the constitution or other infringements, with the
right to appeal.
25. **Interpretation of Rules**: Disputes over interpretation of rules or union matters not covered by the rules are
determined by the national executive congress.
26. **Sasbo Colors**: The union's colors are peacock blue and old gold.
27. **Official Publication**: The union publishes an official publication supplied to all members in good standing,
with responsibility assigned to an editor appointed by the management committee.
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Work of Stephen Nyarko GR9P
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28. **Amendment of Constitution**: The constitution can be amended by resolution of the national executive
congress, with notice given to members and a process outlined for objections and further action. Amendments
must be certified according to the Labour Relations Act.
29. **Winding Up of the Union**:
- The union can be wound up if at least three-fourths of the total number of members vote in favor of a resolution
for winding up.
- If the union is unable to continue functioning, the last-appointed president or available members of the lastappointed national executive congress must transmit a statement to the Labour Court explaining the situation and
request an order for winding up.
- A liquidator appointed by the Labour Court will handle the process of liquidating the union's assets, paying off
debts, and distributing remaining funds among members.
30. **Amalgamation**:
- If another trade union operating in the financial institution sector seeks amalgamation with the union, members
of the other union in good standing at the time of the resolution are entitled to automatic admission to full
membership in the union.
- This admission is subject to conditions not less favorable than those applying to existing members of the union.
- Members of the other union can choose not to join the union by notifying in writing within three months of the
resolution or by terminating their membership at any time.
Recent Campaigning of SASBO
SASBO'S Campaignings:
1. Training and Professionalism: SASBO emphasizes training as a cornerstone of its success. Training officer
Amanda Naudé trained 48 Branch Executive Committee members, African Bank shop stewards, and Capitec Shop
Stewards. The trainees showed impressive responses, and it's expected they will utilize their knowledge for the
benefit of SASBO members.
2. Consultation in Restructuring: SASBO highlights its role in consultations during restructuring exercises in banks,
as mandated by labor laws. SASBO's involvement has often led to informed decisions and amicable solutions for
both members and employers.
3. Capitec Bank Bargaining Forum: SASBO is campaigning for Branch Managers (BMs) and Team Leaders (TLs) at
Capitec Bank to join SASBO, aiming to establish a separate Bargaining Forum for them. This initiative seeks to give
BMs and TLs a collective voice in negotiations.
4. Positive Developments at Capitec Bank: SASBO notes several positive developments at Capitec Bank, including
increases in minimum salaries, negotiated salary settlements, healthcare allowance increases, and the
implementation of a Performance Bonus/STI Scheme.
5. Employee Share Scheme: SASBO advocated for the establishment of an Employee Share Scheme at Capitec
Bank, resulting in the implementation of the Izindaba Ezinhle Broad-Based Black Economic Empowerment (BBBEE)
Employee Share Scheme.
EMS TRADE UNIONS PROJECT
Work of Stephen Nyarko GR9P
Date Started: 30th of April 2024
6. Safety and Security: SASBO addressed safety and security concerns in banks, leading to initiatives such as
additional security personnel deployment and CCTV camera installations in branches.
7. Long Service Awards: SASBO is pushing for the introduction of Long Service Awards at Capitec Bank to recognize
and compensate employees for their loyal service.
SBV Campaignings:
1. Salary Increase and Incentive Scheme: SBV reached agreements with SASBO members in the Processing
Bargaining Unit, including a 7% salary increase, salary scale adjustments, and the suspension of the current
Incentive Scheme with a new scheme to be implemented.
2. Ex Gratia Payments: SBV made ex gratia payments to SASBO members in the Processing Bargaining Unit, with
payments of R2,000 on specific dates.
3. Discretionary Bonus Concerns: SASBO addressed concerns from ex-Absa members regarding the status of their
annual discretionary bonus in 2024. SBV clarified that the Absa Annual Discretionary Bonus payments will not be
made in 2024, as all employees will receive ex-gratia payments instead.
4. Engagement with SBV:SASBO engaged with SBV regarding various issues, including the distribution of ex-gratia
payments and discretionary bonuses for ex-Absa employees. Discussions are ongoing to resolve these matters.
Bibliography:
https://www.sasbo.org.za/wp-content/uploads/2021/03/Constitution-2023.pdf
https://sasbo.org.za/policies/
https://sasbo.org.za/history/
https://sasbo.org.za/my-union/
https://sasbo.org.za/structures/