Former AYO exec Nodwele testifies before #PICInquiry | IOL Business Report

PRETORIA – The PIC Commission of Inquiry into impropriety at the Public Investment Corporation , continued in Pretoria on Monday with former AYO Technologies Solutions executive, Siphiwe Nodwele, giving testimony about his time at the technology group.

Nodwele is a former employee of EOH holdings, which has been implicated in a number of corruption scandals that saw its share price plummet to record lows over the last few years. He also claimed that the board was not independent and that there had been a complete breakdown in a relationship between AYO executives and AEEI executives.

In a statement, Mgoqi said Nodwele and Hardy were aggrieved that they had to report to AYO’s chief investment officer, Abdul Malick Salie. Information from the company suggests that when the AYO board was reconstituted, at the insistence of the PIC to reduce the influence of AEEI and Sekunjalo, the new chairperson of the board, Mgoqi, insisted that the two executives sign a conflict of interest policy statement and indicated that due to their forcibly trying to get AYO to acquire overvalued companies, they should subject themselves to a forensic inquiry, in particular for one company.

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