Ayo Technology Solutions

17 OCT 2019

Will Independent sink with Survé?

About 1 500 media workers may lose their jobs if Iqbal Survé cannot service his companies’ debts

Thando Maeko

7 min read

Former Fedusa general secretary Dennis George. (Felix Dlangamandla/Beeld/Gallo)

20 MAY 2019

Dennis George ‘shocked’ in the wake of Fedusa sacking

The federation’s former general secretary has been implicated in a dodgy Ayo listing deal which he claims is a ‘deliberate misrepresentation’

Sarah Smit

Ayo Technology Solutions had accounting adjustments made to their financial statements, but deny that they are involved in any wrongdoing.

ABDUL MALICK SALIE

15 MAY 2019

Adjusted Ayo finacial statements being audited, PIC inquiry hears

The ICT company has denied wrongdoing, however, the JSE has ordered an audit of the financial statements

Lameez Omarjee

Not above board: In 2006, all the directors of the Stilfontein gold mine resigned to avoid being implicated on charges of reckless trading. A judge later found that this decision was not made in good faith.

12 APR 2019

Boards can’t simply quit en masse

Any decision by directors to leave as a bloc has consequences that go beyond issues of liability

Sihle Bulose

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.(Lerato Maduna/Gallo)

9 APR 2019

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

Former AYO Technology Solutions CEO, Kevin Hardy, has testified that businessperson Iqbal Survé interfered in the running of the technology company

Sibongile Khumalo

3 min read

Iqbal Survés Sekunjalo Investment Holdings denies it owes the PIC more than R1-billion it used to acquire the media group. (Delwyn Verasamy/M&G)

2 APR 2019

Survé set to testify at PIC inquiry

Survé is expected to testify after Kuben Naidoo, the deputy governor of the South Africa Reserve Bank

Jan Cronje
Sibongile Khumalo

The commission, chaired by Justice Lex Mpati, has heard of the close relationship between former PIC CEO Dan Matjila and businessman Iqbal Surve, who holds an indirect stake in Ayo. (David Harrison/M&G)

25 MAR 2019

PIC commission to continue as key Ayo repayment court order expected

Key judgement affecting Surve-linked Ayo is set to be handed down on Monday, as PIC witness identities kept under wraps due to safety concerns

Tehillah Nieselow

19 MAR 2019

PIC given more time to recoup R4.3-bn Ayo investment

The CIPC has agreed on an extension of the time limit of that notice from 15 days to 60 days

Tebogo Tshwane

Matjila recounted how he had received a request from a top politician from the ANC to assist in funding the partys January 8 celebrations in 2016. (David Harrison/M&G)

15 MAR 2019

Sagarmatha offered PIC cut-price deal, inquiry hears

When asked whether this was ethical, Lebogang Molebatsi said, unless the arrangement was disclosed to other shareholders, “it would not be correct”.

Tebogo Tshwane

13 MAR 2019

How PIC officials managed ‘forced’ exposure to Survé deals

Investment team member testifies about Ayo and Sagarmatha transactions as having come from CEO Matjila

Tebogo Tshwane

ANGLO AMERICAN

12 MAR 2019

PIC liquidated stocks to finance R4.3bn Ayo investment

Former chief executive Dan Matjila is alleged to have instructed the liquidation of stocks to settle the subscription of Ayo shares

Tebogo Tshwane

How did a relatively unknown businessman and soccer club owner from Limpopo gain an inside track with Africas largest pension fund administrator and its chief executive, Dan Matjila (pictured)?

11 MAR 2019

PIC going after R4.3-billion paid to Ayo

The Public Investment Corporation (PIC) has distanced itself from any notion that it is working with Ayo Technology Solutions

Tebogo Tshwane

3 min read

On Wednesday, Matjila continued denying any wrongdoing, this time in the transaction between the PIC and mortgage finance company, SA Home Loans. (David Harrison/M&G)