Akerare chairman Johnson Miano (right) with members of the Association of Kenya Railways Retirees. PHOTO | FILE
The Association of Kenya Railways Retirees (Akerare) has dismissed reports by a rival group that Sh3.5 billion in retiree funds has been lost.
The association board was responding to comments by the Kenya Railways Staff Retirements Benefits Scheme, which accused the managing trustee of losing billions of shillings through mismanagement.
Akerare chairman Johnson Miano said that comments by the secretary Robert Azaria were personal since Corporate & Pension, the trustees, had documented all property sales.
“Mr Azaria’s unfortunate allegations directed at an individual director of Corporate & Pension… clearly stem from a lack of appreciation of this reality,” said Mr Miano in a statement.
Corporate & Pension has been given the mandate to sell land holdings worth Sh30 billion on behalf of around 10,000 KR employees as part of restructuring at the parastatal.
Kenya Railways has land holdings in major towns.
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