Ayo technology solutions
PIC report: Dan Matjila could be held personally liable for ‘malfeasance’
The report detailed how some senior officials flouted processes when making certain investment decisions.
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PIC fires head of listed investments Fidelis Madavo over Ayo deal
Madavo was suspended by the board last year in January on the basis of a preliminary report into the PIC’s investment in listed technology company, Ayo Technology Solutions.
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PIC probing claims that Survé’s Sekunjalo is moving assets abroad
The PIC said it took these claims seriously and would take the necessary precautions to safeguard the funds it invested in Sekunjalo and its subsidiary Ayo Technology Solutions.
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PIC threatens Sekunjalo with liquidation
The Public Investment Corporation told Parliament that it was taking action against companies it invested billions in.
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Matjila says PIC did well during his tenure, wraps up inquiry testimony
Former PIC CEO Dr Dan Matjila wrapped up his testimony on Monday and addressed allegations of impropriety at the state-owned asset manager.
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Suspended acting PIC CEO More blames Ayo deal on Matjila
She gave details of the controversial R4.3 billion Ayo Technologies deal that's suspected to have been secured through the flouting of procedure.
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JSE wants Ayo to open books to external auditors after tampering claims
The 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.
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PIC inquiry to hear both sides when JSE testifies on Survé listing claims
Businessman Iqbal Survé claims media group Tiso Blackstar and news channel eNCA lobbied to force the JSE to cancel the listing of his company Sagarmatha Technologies.
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PIC to continue plan to recover Ayo funds, says CIPC notice was irrational
The PIC said it agreed that it had to recover its losses and would continue with its plan to recover the invested funds without delay.
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PIC employees pressured to get Ayo deal signed, inquiry hears
The inquiry has continued to hear evidence about the dodgy R4.3 billion investment into media mogul Iqbal Survé's Ayo Technologies, with many witnesses pointing fingers at former CEO Dan Matjila.
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AYO Technology takes CIPC to court over R4.3bn PIC deal
This after the CIPC issued a compliance notice to the directors at the PIC demanding they recoup R4.3 billion that the PIC invested in AYO together with interest for six months.
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Matjila was ‘desperate’ to have R4.3bn Ayo deal approved
On Monday, former PIC executive Paul Magula testified at the PIC commission of inquiry about Dan Matjila’s involvement in the dodgy investment in Ayo Technology Solutions.
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Dennis George says Fedusa suspension to tarnish his reputation
George has been informed by his union this morning that his special leave has now been turned into precautionary suspension in the wake of allegations that he bought shares in Ayo Technology Solutions without informing the federation.
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Gungubele: 'PIC processes were brazenly breached in Ayo Technology deal'
Deputy Finance Minister Mondli Gungubele is testifying at the commission of PIC inquiry which is looking into allegations including impropriety.
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#PICInquiry: Fedusa to probe corruption claims against Dennis George
Fedusa has appointed a team to look into the allegations but he is adamant it never gave any instruction for the acquisition of the shares on the union's behalf.
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Fedusa suspends general secretary implicated in dodgy PIC deal
Dennis George is facing allegations that he personally benefitted in the controversial R4.3 billion deal between the Public Investment Cooperation and Ayo Technology Solutions.
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PIC failed to act when Ayo issues first raised, inquiry hears
On Wednesday, Lufuno Nemagovhani has told the PIC commission of inquiry that he raised a query in May about the manner in which the R4.3 billion deal was approved.
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PIC Inquiry hears interim report into Ayo Technology probe leaked
Lufuno Nemagovhani has told the PIC Commission of Inquiry that he is responsible for the investigation into the R4.3 billion deal.
