Numsa, Ayo to apply for urgent interdict against FNB Updated
Anastasi Mokgobu
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The National Union of Metalworkers of South Africa (Numsa) is set to join Ayo Technologies in its urgent application in the High Court in Johannesburg against FNB.
Neo Motlaung
The union wants an urgent interdict restraining FNB from closing the comany’s accounts.
Numsa spokesperson Phakamile Hlubi-Majola says FNB has given Ayo until the 3rd of May to find a new bank.
“Ayo Technology is linked to Sekunjalo Holdings and it is a black investment holding that has business interests in the ICT sector. Last month ABSA severed all services to all business enterprises linked to Sekunjalo, claiming that the banks reputation would be harmed by associating with it.
Numsa, Ayo to apply for urgent interdict against FNB ecr.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ecr.co.za Daily Mail and Mail on Sunday newspapers.
Friday 16 April 2021 - 1:31am
Chairperson of media group Independent Media and the head of Sekunjalo Iqbal Surve gives evidence during the Judicial Commission of Inquiry into the Public Investment Corporation.
Gallo
FNB will close its transactional activity with Ayo Technology early next month.
Last week it emerged ABSA had closed all banking facilities linked to Surve s Sekunjalo Investment Holdings.
PIC denies sabotage allegations by Survé and Maponya moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
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AYO Technology s chairperson has said the JSE-listed IT group s banking facilities are being cancelled, which he blamed on a hidden hand that was directing activities to destroy the group.
Dr Wallace Mgoqi, giving evidence before Parliament s finance oversight committee on Wednesday, said that state asset manager the Public Investment Corporation (PIC) and unnamed officials at National Treasury were behind this hidden hand , without providing any evidence.
At various times in his testimony, he accused the JSE, the Financial Sector Conduct Authority (FSCA), the Mpati Commission of Inquiry into the PIC, the DA, journalists, private corporate entities , the Companies and Intellectual Property Commission and banking institutions of seeking to undermine the IT group or acting irrationally against it.