Latest News & Developments
pic v ayo
Malema slams ‘bullying’ banks over Indy accounts closure
Economic Freedom Fighters president Julius Malema says South Africa’s banks have been “weaponised”.
AYO Technology’s investments well-placed for growth
Revenue increased 28% to R1 billion. The loss per share increased by 130% to 79. 06 cents per share.
Why AYO is a safer bet
The tech firm is probably a better bet for pensioners than an investment tied to the political turbulence of a foreign power.
AYO welcomes public ratification of settlement by PIC
AYO was appreciative of the PIC Board’s public ratification of the settlement agreement between the two parties that ended a protracted court battle, it said on Thursday.
Time for taxpayers to make voices heard on GEPF, PIC
LETTER: During 2011/12, a few pensioners became suspicious about events regarding their pension money and started asking questions. The GEPF responded through the pensioners’ elected trustee member and assured them time and again how well things were going with the largest and best-managed pension fund in Africa.
AYO’s struggle against media distortions and unfounded accusations
AYO’s share price was negatively impacted by negative media reports, says the writer.
AYO ready to kickstart wave of ICT transformation in South Africa
AYO believes that its B-BBEE ownership and employee statistics make it best positioned to increase the market share of its current product and service offering.
‘Dr Wallace Mgoqi was an intellectual, activist and lawyer’
Former ANC MP Nyami Booi says Dr Mgoqi led from the front in the Struggle against apartheid and pushed for land settlement claims in the post-Aparthedi era.
AYO to repurchase some of its shares held by the GEPF
AYO Technology Solutions (AYO) has informed its shareholders it would repurchase R619 million of the shares that the Government Employees Pension Fund (GEPF) holds in the company, as part of its settlement agreement with the Public Investment Corporation (PIC) and the GEPF.
The fake news epidemic: News24's relentless assault on AYO
AYO has faced unnecessary vitriol in opposition media, says the writer.
Sekunjalo vs Banks: Competition Appeal Court reserves judgment on appeal
The Competition Appeal Court on Friday reserved judgment in the appeal brought by three banks to dispute the decision of the Competition Tribunal (the Tribunal) preventing them from closing the Sekunjalo Group’s (Sekunjalo) bank accounts.
Banks deny colluding to shut the Sekunjalo Group's bank accounts
The appeal case by three banks disputing a ground-breaking decision handed down by the Competition Tribunal in September last year, which prevented them from closing the Sekunjalo Group's bank accounts, got under way at the Competition Appeal Court.
Sekunjalo Group clarifies position on AYO and Independent Media
Sekunjalo Group has issued a statement in which it sets the record straight about its investment in Independent Media, and the recent settlement reached between AYO and the PIC.
Justice prevailed in AYO vs PIC case, says Dr Iqbal Survé
Chairman of the Sekunjalo Group Dr Iqbal Survé has welcomed the outcome of the Public Investment Corporation (PIC) and AYO Technology Solutions Limited court case after both parties agreed to a settlement.
PIC and AYO settle in court, ending long-running battle
Statements by the PIC and AYO post the settlement agreement, point to a mending of bridges and a brighter possible future for AYO.
PIC v AYO: Parties come to settlement agreement
The PIC, which was looking to recoup a R4. 3bn investment into AYO Technology Solutions has come to a confidential settlement agreement with the company.
PIC’s economic transformation mandate ‘needs revisiting’
Public sector workers were on strike demanding a living wage and better working conditions. It is not easy. The government, their boss, keeps on reminding them, ‘No work, no pay’. If only they had a strike fund to sustain themselves and their families, it would strengthen their strike and they could hold out longer. But where will the money come from?
PIC v AYO: What we know after the first week in the epic court battle
The Public Investment Corporation (PIC) has gone to court to recover a R4. 3 billion investment ploughed into a black-owned AYO Technology Solutions (AYO).
PIC deal team had enough comfort to make R4. 3bn investment
Under questioning by Nazeer Cassim, legal representative of AYO, Molebatsi said he only became aware that PIC chief executive at the time, Dr Dan Matjila, had signed an irrevocable undertaking to do the deal already on December 4, long after the fact.
PIC head admits AYO was a good investment
The questions to Molebatsi from both the PIC senior counsel Vincent Maleka and Cassim were based mainly on his previous testimony at the Mpati Commission of Inquiry into impropriety at the PIC, back in 2019.
AYO deal was a ‘good investment’, PIC witness tells Western Cape High Court
Molebatsi – who was in an acting general manager position at the time –said subsequent to the meeting, Seanie had verbally discussed with him that the matter was to be taken to the PMC for listing on the JSE.
Editor’s Note: PIC vs AYO case shows cracks in PIC procedures
The much-anticipated case between the Public Investment Corporation and Ayo Technology Solutions kicked off in the Western Cape High Court last week with some explosive claims.
AYO vs PIC: Killing off black-owned and led companies is not the answer
The question of whether the Mpati Commission of Inquiry was used by the PIC to deflect attention from itself and its failed investments by focusing its efforts, that of the Inquiry, and the media on AYO, is not for debate here. I suspect there will be divided opinion.
PIC vs AYO: Witnesses confirm AYO and BTSA had a strategic relationship
Former African Equity Empowerment Investments chief investment officer Malick Salie yesterday said he had no reason to suspect anything untoward about the data Ayo Technology Solutions received from British Telecom SA.
PIC v AYO: Witnesses concur that BTSA/AYO was a strategic relationship
The case is on its fourth day.