The board of property group Safari Investments, which owns malls in towns and rural areas, was berated at the group’s annual general meeting (AGM) after it admitted to paying consulting fees to non-executive directors in the wake of shareholders having seen their investments in the group washed away in recent years.

Minority shareholder and Opportune Investments chief investment officer Chris Logan said in a question-and-answer session at the AGM it was worrying that the company had paid fees to non-executive directors and the payment had increased fourfold to about R2m in the past year.

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