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Company fingered for bribing trade union pension fund trustees fights back

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Akani Retirement Fund administrators will appeal a scathing judgment by the Johannesburg high court which found that the company 'bribed' trustees of the Chemical Industries National Pension Fund (CINPF).

Trustees were accused of accepting bribes of between R40,000 and R25,000 each in 2019 to topple a company that was providing services as administrator of the CINPF in favour of a new service provider. File image.Akani Retirement Fund administrators will appeal a scathing judgment by the Johannesburg high court which found that the company bribed trustees of the Chemical Industries National Pension Fund .

The bribe was allegedly in exchange for booting out NBC Holdings, a company that had served as administrators of the CINPF for three decades, in favour of Akani without an open tender process.

 

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