“Stretched”, “thumb-suck” and “manipulation” were among the words used at the judicial commission of inquiry into the Public Investment Corp to describe the informal pre-listing valuation carried out by Ayo Technology Solutions executives.
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Ayo Technology Solutions is at least partly an illegitimate business and has fabricated financial statements, according to Ayo’s former chief investment officer.
Ayo Technology Solutions allegedly rushed the listing process due to fears that it would not be able to secure funds from the PIC after the ANC elected a new leader at its December conference.
The Public Investment Corp and African Equity and Empowerment Investment Group, Sekunjalo’s listed vehicle, value Ayo Technology Solutions at a healthy R14.8bn. The market values it at R11.3bn, which, while substantially
The Public Investment Corp is looking into how Africa’s biggest money manager decided to spend R4.3bn to back last year’s initial public offering of IT company Ayo Technology Solutions. The PIC, which manages
Mzwanele Manyi, the former government spin doctor who bought 24-hour news channel ANN7 from the Guptas, is seeking to break conclusively with the channel’s association with the controversial family
After initially approving the controversial listing of Sagarmatha Technologies, a collection of small e-commerce companies huddled together with 55% of Independent Media, the JSE has rescinded its approval. According to the JSE
The SABC is right to implement a ban on showing visuals of violent public protests, says Oakbay Investments chief executive officer Nazeem Howa. In an interview about his company’s controversial
After more than two “stress-filled and anxious” years, sacked Cape Times editor Alide Dasnois on Monday said she is satisfied with her last-minute settlement offer from Independent Newspapers
An unidentified hacker group has made most of the South African Press Association’s archives publicly available and searchable for free, violating the copyright of new owner Sekunjalo Investment Holdings. The group says