Ayo Technology Solutions is African Equity Empowerment Investments’ biggest investment. Picture: 123RF — GONGZSTUDIO
In December 2017, the PIC controversially invested R4.3bn into Ayo, acquiring a 29% stake in the process at R43 a share — a far higher valuation than it was worth, some analysts and former executives have said. The exchange said it had also “kept abreast of numerous other allegations against Ayo Technologies from various sources”. extremely perturbed by the serious allegations” but it “strongly refutes such claims”.
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JSE wants Ayo to open books to external auditors after tampering claimsThe move comes after allegations emerged at the Public Investment Corporation (PIC) commission of inquiry that Ayo Technology Solutions tampered with its financials to inflate profits.
Source: ewnupdates - 🏆 30. / 53 Read more »
JSE wants answers from AYOAYO Technology has been asked by the Johannesburg Stock Exchange (JSE) to look at its interim results. eNCA, can you please call your anchor Faith Mangope to handle interviews appropriately. We do not care about her opinion we want to hear the interviewee not her. The whole interview with HermanMashaba she kept on interrupting him. She is energetic and all that but wa tena shem
Source: eNCA - 🏆 49. / 51 Read more »
Ayo financial tampered with on Survé's instruction, says ex-chief execFormer Ayo CEO Kevin Hardy has testified that Iqbal Survé interfered in the running of the technology company and issued an order to tamper with a financial report.
Source: mailandguardian - 🏆 2. / 92 Read more »
Survé issued instruction to tamper with AYO interim financials - former executiveThe former CEO of AYO Technology Solutions 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.
Source: News24 - 🏆 4. / 80 Read more »
Iqbal Survé & Co reap more Ayo ‘profits’Ayo Technology Solutions, the company tied to mogul Iqbal Survé, that controversially received R4.3 billion from the Public Investment Corporation (PIC), will dramatically hike its dividends even though profits are still mostly derived from interest on the PIC’s cash. If anc would want to make a difference, they could have done more better than what apartheid did,unfortunately after they came in, they just put their eyes on the money,and blaming whites that develop the nation. I question Survé's sanity.
Source: City_Press - 🏆 7. / 72 Read more »
PIC inquiry hears how Ayo executives were instructed to move R400mTwo former executives at Ayo Technology Solutions explained how Iqbal Survé was the ultimate decision-maker despite only being a shareholder.
Source: eNCA - 🏆 49. / 51 Read more »
Ayo shares at historic low as former head of investment testifiesSiphiwe Nodwele told the inquiry into the affairs of the PIC that the technology company had been grossly overvalued tears4ickballs
Source: BDliveSA - 🏆 12. / 63 Read more »
Business Maverick: Ayo Ex-CIO Says South African Company Is Partly IllegitimateAyo Technology Solutions Ltd. is at least partly an illegitimate business and has fabricated financial statements even while securing a R4.3-billion investment by the Public Investment Corporation, according to Ayo’s former chief investment officer.
Source: dailymaverick - 🏆 3. / 84 Read more »