Sat, 21 Sep 2019

Fedusa confirms George's dismissal over AYO shares

18 May 2019, 05:43 GMT+10

The Federation of Unions of South Africa confirmed through a statement on Friday evening that it has dismissed its general secretary Dennis George with immediate effect.

George's dismissal comes after a suspension over his involvement in the imbroglio dogging AYO Technology Solutions, which is also a prominent matter at the commission of inquiry into the Public Investment Corporation. George purchased shares in the company.

The commission is investigating allegations of wrongdoing at the PIC, which manages R2.2trn in investments on behalf of public servants. The PIC invested R4.3bn in AYO in late 2017.

"During February 2019 the Leadership of FEDUSA took a decision to investigate allegations that FEDUSA owned shares in AYO Technology," a statement form Fedusa said.

The statement said Fedusa's National Executive Council had a meeting on Thursday, where it considered recommendations by an independent chair.

The meeting unanimously resolved to dismiss George based on findings of serious misconduct, the statement said.

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