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Business Report writes that the Federation of Unions of SA (Fedusa) on Wednesday officially parted ways with its long serving general secretary Dennis George through a settlement in which he would get no compensation.
In a statement, the parties announced they reached the agreement through a CCMA process. The terms of the agreement will remain confidential. George, who has now set his eye on entrepreneurial ventures in the tech space, said his decision to purchase shares in AYO Technology Solutions had been to warehouse the shares in Difeme Holdings on behalf of Fedusa. He stated that he, for his part, did not receive any financial gain of a personal nature from the purchase and that the warehoused shares were purchased with the aim to empower trade unions, workers and rural communities. Fedusa put George on special leave in February, which turned into cautionary suspension, while a law firm investigated the matter. He was fired in May on claims that he might have personally benefited through the acquisition of AYO shares through his company Difeme Holdings. Fedusa has constantly maintained that it never gave any “mandate for the acquisition of shares from any company in the name of the trade union”. The federation dismissed what it called an attempt to link it to Difeme Holdings.
- Read the full original of the report in the above regard by Banele Ginindza at Business Report
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