Both companies were fined R7.5 million but their fines were lower as R2.5 million was suspended for a few years, lowering their fines to R5 million. AYO Technology was summarily fined R6.5 million and its fine was not partly suspended.
“Here we are talking about an organisation that only spoke once, released a single statement in November 2017 about Steinhoff. There has never been any communication since then to the South Africans. They have since penalised AYO Technology for doings they deemed to have been corrupt or ought to have hidden certain finances and have not paid enough tax in 2018.
Senokoane said the system which was inherited from the apartheid years has not changed and it always punishes those who challenge it. He was emphatic that AYO is being badly treated by the system. “The white system has gatekeepers who determine the rule of the game and it even goes as far as determining treatment and punishment will give to those who are anti the system. So where we are sitting now is a reaction of the system based on his particular contribution in disturbing the system,’ he said.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: Rand has best day since Ramaphosa won ANC presidency in 2017The JSE all share fell 1.43% to 56,057.10 points, its worst day in three weeks
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: Rand has best day since Ramaphosa won ANC presidency in 2017The JSE all share fell 1.43% to 56,057.10 points, its worst day in three weeks
Source: BDliveSA - 🏆 12. / 63 Read more »
WATCH: How Covid-19 will affect Massmart’s turnaroundMassmart CEO Mitchell Slape talks to Business Day TV about the company’s interim results
Source: BDliveSA - 🏆 12. / 63 Read more »
Fibre operators muscling out internet service providersSupplying both services means the companies hamper healthy competition, which affects pricing and delivery
Source: BDliveSA - 🏆 12. / 63 Read more »