Ayo financial tampered with on Survé's instruction, says ex-chief exec

Former AYO Technology Solutions CEO, Kevin Hardy, has testified that Iqbal Survé, the head of investment holding company Sekunjalo, interfered in the running of the technology company and issued an order to tamper with a financial report.

He said the instructions had come from Survé and Khalid Abdulla, the CEO of Equity Empowerment Investments , who, together with Chief Investment Officer Malick Salie, had amended the numbers. Survé, testifying before the commission for two days last week, had said that AYO had done nothing wrong and the PIC’s R4.3bn investment was sound. He said that, as chair of Sekunjalo, he would make sure that “every cent that’s in that business [AYO] is utilised for the benefits of the shareholders”.Hardy said he was “very uncomfortable” with the decision to inflate the numbers, but was informed the instruction had come from above.

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