Sekunjalo group asks parliament s finance committee to probe disputes with PIC, other institutions The Star newspaper building in the Johannesburg CBD. Image: KATHERINE MUICK-MERE
The Sekunjalo group has turned to parliament to intervene in a dispute between itself and associated companies and the Public Investment Corporation (PIC), accusing the corporation s new leadership of being hostile towards the group.
Senior leaders of Ayo Technology Solutions and the Independent Media Consortium called on parliament s standing committee on finance to investigate the conduct of institutions which they claimed were undermining democracy and business confidence in SA by actively engaging in destroying their businesses and the Government Employees Pension Fund (GEPF) value, as it relates to Ayo.
SCoF hears how AYO became a victim of institutional actions
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CAPE TOWN â JSE-listed Ayo Technology Solutions (AYO), on Wednesday told Parliamentâs Standing Committee on Finance (SCoF) that the tech investment firm was a victim of several institutional actions, such as being unfairly censured with fines, which made no sense.
AYO chairperson Dr Wallace Mgoqi cited another example whereby the Companies and Intellectual Property Commission (CIPC), without any rational basis and precedent, had launched a litigation case against AYO. CIPC lost the case.
Mgoqi said that in the spirit of transparency, AYO had welcomed the commission of inquiry into alleged impropriety at the Public Investment Corporation (PIC) and had voluntarily sent executives to be fully transparent in their engagement with the commission, chaired by Justice Lex Mpati.