23 C
Kenya
Wednesday, October 21, 2020

Sacked senior Equity manager now demands Sh. 133 million pay

Must Read

Coca-Cola Commits Kshs125 Million Into Kenya’s Economic & Envitomrntal Recovery

The Coca-Cola System in Kenya, in partnership with like-minded institutions: County Government of Laikipia; Women Enterprise Fund (WEF); Absa;...

Standard Chartered Bank Introduces SCB and Liverpool FC Visa Debit Co-brand Card in Kenya, the First in Africa.

Standard Chartered Bank has today announced the launch of co-branded SCB and Liverpool FC debit cards for their clients....

Mabati Rolling Mills Commissions SAFBUILD Manufacturing Plant

Mabati Rolling Mills Limited (MRM), a Member of the Safal Group, today launched the SAFBUILD Manufacturing Plant at its...

A senior banker who was fired from Equity Bank less than two months ago has now sued to get Sh. 132.7 million from the lender. The former Equity manager Mr. Joseph Macharia Kagicha was general manager (GM) Agency Banking. He has sued Equity Bank Kenya Limited over what he terms as wrongful and discriminatory sacking.

According to report, Kagicha’s Lawyer Titus Koceyo asked the Employment and Labour Relations Court to compel Equity to pay Kagicha Sh. 10 million for discrimination, psychological and mental torture. The former Equity manager further asked the court to compel Equity to pay him Sh. 113,580,000 being loss of opportunity for the remaining period before attaining the retirement age of 60.

Joseph Nderitu: How I rear 250 dairy cows on three acres to make millions

He also asked that Equity pays him Sh. 1,577,500 being withheld salaries when he was on suspension between March and July 2020. Kagicha also sought 12-month compensation for unfair loss of employment which he quoted at Sh. 7,572,000.

In response, Lady Justice Maureen Onyango of  Employment and Labour Relations Court (ELRC) gave Equity Bank 21 days to respond to the allegations, failure to which a judgement will be entered based on the evidence tabled by Kagicha.

“In the evidence presented to the ELRC, Mr Koceyo states that “no valid legal reasons were presented to the claimant before he was sacked.” Mr Kagicha who joined the bank on April 8, 2011 then promoted to be the GM agency banking due to his good performance making the department’s returns highest. He claims that he was sacked based on recommendations of a preliminary of a compliance report which was never returned to him for his final response and input as the GM on agency banking,” a report on the case  by the former Equity manager said.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

190,412FansLike
11,005FollowersFollow
214FollowersFollow
297SubscribersSubscribe
WhatsApp
Telegram

Latest News

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020 DIB Bank Kenya Limited...

Coca-Cola Enhances Consumer Access to its Beverage With a Home Delivery Service

Coca-Cola Enhances Consumer Access to its Beverage With a Home Delivery Service  The Coca-Cola system partners in Kenya have today launched a new home delivery...

Bolt celebrates Kenya’s coronavirus heroes

Bolt celebrates Kenya's coronavirus heroes: Bolt, the leading on-demand transportation platform in Africa is celebrating extraordinary heroes who have been on the frontlines day...

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020 DIB Bank Kenya Limited (DIB) secured a prestigious win...

Kenya’s online food and beverage market to hit Sh. 3.8 billion in four years

Kenya’s online food and beverage market is expected to hit Sh. 3.8 billion by the year 2024. This has been revealed by a survey...

More Articles Like This