JOHANNESBURG – Former Secretary General of the Federation of Southern African Alliances (Fedusa) Dennis George was fired.
It is alleged that George acquired shares of Ayo Technology through his company at a significantly reduced rate.
In February, it was removed from Fedusa because the suspicious investment of the PIC at R4.3 billion in Ayo was dealt with during the PIC investigation.
Reading: Fedusa stops Dennis George for the scandal with Aio
Fedusa chairman Godfrey Selematsela said any suggestions of illegality on his behalf are inaccurate and unverified.
George said he would communicate further through his legal representation.
A final report by the forensic staff on the issue will be published at the end of May.