Embrace AI or miss out, Standard Chartered Zambia boss tells staff, as firm signs new labour agreement

Standard Chartered Bank Zambia Chief Executive Officer, Sonny Zulu, has urged employees to embrace artificial intelligence (AI) and upskill continuously in response to the fast-changing digital landscape.

Speaking during the signing of the bank’s 2025–2026 collective bargaining agreement with the Zambia Union of Financial and Allied Workers (ZUFIAW) on Thursday in Lusaka, Zulu said the future of work will be increasingly shaped by AI and digital innovation.

“AI is not here to take our jobs. The world is changing. As we bring in new, digitally savvy talent, it’s important for all of us to remain relevant,” he said.

Zulu stated: “The only people at risk are those unwilling to learn how to use these tools.”

He likened the emergence of AI to previous technological revolutions such as the introduction of computers and the internet, stressing that adaptability will be key to thriving in tomorrow’s workplace.

“Everyone will have to learn and adapt. Those who resist change risk falling behind,” he added.

At the same event, Zulu announced a range of new staff benefits under the just-signed agreement. While the specific details were not disclosed, he praised the spirit of collaboration during the negotiations.

Read more: Techbytes: Association demands WhatsApp, Netflix, YouTube contribute to building, maintaining S’Africa’s networks (Mybroadband)

“This agreement demonstrates both the bank’s and the union’s shared commitment to recognising the dedication and contributions of our employees,” he said.

ZUFIAW Deputy General Secretary for Organising and Recruitment, Christabel Bwalya, welcomed the agreement but also raised concerns about a previous across-the-board 20 percent salary increment.

She argued that the increment disproportionately benefited higher-earning staff.

“We raised this at the negotiation table because while it seemed generous, its actual benefit was skewed. Many of our members, especially those without mortgages, missed out on its intended impact,” Bwalya said.

Despite these concerns, she emphasised the importance of preserving good labour relations.

“In the spirit of give-and-take, and with a broader view of preserving industrial peace, the union made a mature and conscious decision to compromise — a gesture we hope will be appreciated and reciprocated in future negotiations,” she said.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.