Mon, 05 Jun 2017 13:00:49 +0000 By OSCAR MALIPENGA BANK of Zambia employees are outraged over a pension investment in which US$1.5 million of their savings was spent without their knowledge. This is a matter in which the Kwacha Pension Trust Fund is alleged to have spent more than US$1.5 million for the construction of Kwacha Mall in Lusaka using pensioner’s money without approval from the members. A forensic audit has since been instituted and preliminary investigations have revealed that over US$1.5million was spent without approval from the members. Members of the Kwacha Pension Trust Fund told the Daily Nation that following the discovery, Kwacha Pension Trust Fund chief executive officers David N’gandu resigned in unexplained circumstances in September 2016. The sources disclosed that the board chairperson of the Kwacha Pension Trust Fund Gilbert Temba, who is at the same time Bank of Zambia deputy board chairperson, equally resigned as chairperson of the Trust […]
