PSA demands details of 'secretive' court settlement between PIC and Ayo: The Public Servants Association says it rejects the secretive deal between the Public Investment Corporation and Ayo Technology Solutions and demands transparency about the…
The PIC has been locked in battle with Ayo in the Western Cape High Court in an attempt to claw back billions, plus interest, on behalf of the Government Employees Pension Fund. Stock photo.secretive deal between the Public Investment Corporation and Ayo Technology Solutions and demands transparency about the settlement.
On Friday, the PIC announced it had reached a settlement regarding the proceedings it had instituted in the Western Cape High Court, where it was seeking to recover a R4.3bn investment in Ayo.The details of the settlement, which was made an order of the court, were not revealed by the PIC.The union called on the PIC to provide the details of the settlement with Ayo, failing which it would have no other option than to consider litigation.
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