“This decision comes in the wake of allegations relating to the acquisition of shares in technology company, Ayo Technology Systems,” said the federation.
“In remaining steadfast to the principles of accountability, and the continued promotion of good, clean, ethical governance, Fedusa initiated an independent, external investigation to determine the veracity of the allegations.George previously denied any wrongdoing to media after he was placed on special leave, saying he was only facing “allegations” and had already answered questions put to him by the federation.
Ayo Technology Solutions has been under the spotlight at the judicial commission of inquiry into state-run asset manager the Public Investment Corporation . George is an independent member of the Ayo board. Earlier in the week the Companies and Intellectual Property Commission ordered the PIC to recoup its R4.3-billion investment in the company. —