The JSE has publicly censured Ayo Technology Solutions and imposed a R6.5-million fine on the controversial technology group after it published a series of “false and misleading” financial statements.
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Fidelis Madavo says he’s being scapegoated in the corruption scandal that has gripped South Africa’s biggest money manager. And now he says there are documents to prove his contention.
The PIC has dismissed the executive head of listed investments Fidelis Madavo for gross misconduct in the controversial R4.3-billion deal involving Ayo Technology Solutions.
The PIC has been thrown into further turmoil after firing an assistant portfolio manager who warned that the organisation moved too quickly when investing in a little-known technology company.
MTN Group and financial services provider MMI Holdings have announced they’re creating a new joint venture, branded aYo, to deliver micro insurance solutions across Africa. Insurance penetration is low