Today's Labour News

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ImperialCity Press reports that beneficiaries of a multibillion-rand employee trust are fighting in court for it to be dissolved owing to concerns about a lack of transparency and because it is allegedly not benefiting them.  

Ukhamba Trust, an employee benefit scheme set up in 1998 for employees of automotive and logistics company Imperial, is being taken to court by a group of the trust’s beneficiaries.  The trust has 15,553 beneficiaries.  Acting on behalf of 1,100 beneficiaries in the matter, which is before the Johannesburg High Court, Reuben Malabela, one of beneficiaries, has filed court documents applying for the trust to be dissolved and the money held therein to be distributed.  The trust apparently owns a 10.1% stake in Imperial and holds funds worth more than R2 billion.  Malabela explained:  “We want the trust dissolved because the beneficiaries are not benefiting.  The trust has been amended several times without the knowledge of the beneficiaries and they were never given a chance to elect their representative among the trustees.  There are also a lot of people who were left out even though they were employees of Imperial and there was never a reason given for that.”  Another issue is that a ‘lot’ of beneficiaries have since died and their next of kin were never alerted of the trust benefits.  Oshy Tugendhaft, representing the trust, said there was nothing untoward about the trust and he denied the allegations.

  • Read more of this City Press report by Lesetja Malope at SA Labour News

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