Iqbal Survé-linked IT company accuses Treasury, PIC of plotting to destroy it

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AYO is part of Iqbal Survé's Sekunjalo group of companies.
AYO is part of Iqbal Survé's Sekunjalo group of companies.
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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.

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