Ayo Technology Solutions strongly repudiates allegations that it is siphoning funds offshore
Ayo Technology Solutions (AYO) is beyond shocked by the allegations that it is siphoning money offshore and strongly rejects any claims that the company is engaged in any such activity.
During a parliamentary session today, 15 October 2019, the Public Investment Corporation’s (PIC) acting executive head of Legal Counsel, Governance and Compliance, Ms Lindiwe Dlamini, advised that the PIC was looking at instituting court action against AYO, with a view to halting the alleged siphoning of funds offshore by AYO.
These comments and allegations are reckless, entirely without merit and wholly inappropriate. They are downright dangerous.
AYO, as any company operating in South Africa today, would need to apply to the South African Reserve Bank to obtain the proper regulatory approval to engage in a transaction of this nature. AYO has not made any application for Reserve Bank approval nor does it intend to do so.
Please read the full media statement here .AYO statement 151019