Fedusa secretary-general implicated in shady PIC deal

JOHANNESBURG - Fedusa general-secretary Dennis George is facing accusations of corruption that emerged at the PIC inquiry on Monday.

George is alleged to have scored nearly R1-million from the tainted PIC-Ayo deal.

He is reported to be the sole director of Difeme Holdings, which is alleged to have walked away with R900,000 when Ayo Technology Solutions declared its first dividend in November 2018.

Shareholding records allegedly show that Difeme Holdings received three-million shares as part of the pre-listing BEE bonanza.

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The Public Investment Corporation's R4.3-billion investment in Ayo Technology Solutions is being investigated by both the PIC and the judicial commission probing governance failures at the state Asset-Management company.

Trade union federation Saftu is urging Fedusa affiliates to call for George's immediate resignation.

In response, George says he will be consulting his lawyers and will issue a statement on Tuesday.

Source
eNCA