Published 03 Mar 2020

AYO chairman Advocate Wallace Mgoqi says the company will be instituting damages claims of billions against parties that had defamed AYO over the last few months. Picture: Phando Jikelo/African News Agency (ANA)

Cape Town – AYO Technology Solutions (AYO) chairman Advocate Wallace Mgoqi said on Tuesday that the ICT company will be instituting damages claims estimated to run into billions of rands against a number of parties that had deliberately and maliciously defamed AYO over the last few months.

Mgoqi stated that the actions of these parties were “economic and business sabotage”.

According to Mgoqi, AYO is a victim of a deliberate misinformation campaign that was designed to undermine its business model and to destroy South Africa’s largest black ICT company.

AYO’s chairman also conveyed that the company had been restrained and responsible in its responses to these highly defamatory attacks, many of which were passed by former employees, media houses – in print, television and online – and employees of the Public Investment Corporation (PIC).

Additionally, journalists like Business Day’s Warren Thompson are guilty of writing highly misleading and defamatory articles, which have all contributed to the challenge on AYO’s share price and the company’s negative reputation. The reporting during the PIC Commission of Inquiry in particular, conveyed nuances of subliminal racism, which cannot be tolerated in South Africa under any circumstances, Mgoqi said.

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