THE Communications and Allied Industries Pension Fund chief executive, John Mashika, has resigned from the entity amid an internal audit report published in 2016 which revealed irregular investment transactions during his tenure, among other problems, businessdigest can reveal.
By Tinashe Kairiza
According to the internal audit report seen by businessdigest, the pension fund could have been prejudiced about US$3,2 million when Mashika unilaterally sanctioned the acquisition of a number of properties against the entity’s investment procedures.
Mashika, who in 2015 joined the pension fund which has a property investment portfolio that includes Kopje Plaza, Causeway Building and Runhare House, approved the acquisition of Hopley-Southview Park and Tynwald land banks without following…
