The arms deal judgment will have implications for future commissions of inquiry. The Gauteng High Court in Pretoria set aside the findings of the 2015 Seriti commission report into the billion-rand arms deal.
Light rain. More sun than clouds. Cool.
Technology firm warns of its “imminent demise” if the PIC’s R4.3-billion claim succeeds – but finds it hard to answer some allegations.
The former head of the PIC says he was removed from his job so politically connected people could influence the fund's investment decisions.
According to its latest statement, AYO believes its August 2018 audited results will not have to be restated.
The Public Investment Corporation and the Government Employees Pension Fund have served AYO Technology Solutions summons, seeking a court to order that it pay back R4.3bn, including interest.
The JSE is probing the movement of funds between companies linked to businessman Iqbal Survé to determine if the transactions were in breach of listing requirements.
Ayo Technology Solutions Chief Investment Officer Abdul Malick Salie has resigned as an executive director with immediate effect, the company announced on Tuesday evening.
AYO Technology Solutions says it is "utterly dismayed" by the implication that its employee Naahied Gamieldien may face internal company repercussions for testifying at the commission of inquiry into the Public Investment Corporation.
AYO Technology Solutions has denied its unaudited financials were amended, saying it is 'extremely perturbed' by allegations made by two former executives.
The former director at AYO Technology Solutions has told the PIC inquiry that he valued the company at R700m not the R14.8bn determined by the state-funded asset manager.
The deputy minister of finance is not intending to respond to allegations made by Independent Newspapers chairperson Iqbal Survé, who says ANC insiders told him Gungunbele had vowed to 'crush' the newspaper group for not 'toeing the line'.
Dan Matjila has testified that he would have called an extraordinary general meeting to "remedy" problems at JSE-listed IT group AYO Technology Solutions if he were still head of the PIC.
Iqbal Survé’s businesses seem uncomfortably incestuous, given that the Financial Sector Conduct Authority is investigating possible share manipulation at all three of his listed companies. amaBhungane's Dewald van Rensburg unpacks the potential red flags.
AYO Technologies says its interim financial statement for the year ended February 28 show that profit after tax decreased, after the company was ordered by the JSE to conduct a review of its earnings.
AYO chair Wallace Mgoqi said through the statement that the company was innocent of all allegations leveled against it during the commission.
Dennis George, the dismissed general secretary of Fedusa, has responded to his axing by saying that the trade union federation can still benefit by taking up shares in IT company AYO Technology Solutions.
The GEPF had no reason to update Sekunjalo executive chair Iqbal Survé about the way in which the PIC handled its investment in AYO, head of the fund Abel Sithole told Fin24.
The former Chief Finance Officer at AYO Technology Solutions, Naahied Gamieldien, was testifying before the judicial commission of inquiry into the Public Investment Corporation.
The former CEO of AYO Technology Solutions has testified that Iqbal Survé, the head of investment holding company Sekunjalo, interfered in the running of the technology company and issued an order to tamper with a financial report.
From death threats and allegations of wrongdoing in billion rand investments, to the search for an anonymous whistleblower and the suspension of top officials, this is what the commission of inquiry into the Public Investment Corporation has heard so far.
From fixation with race to poor recollection of events that involved his interactions with PIC officials, businessperson Iqbal Survé’s submission before the inquiry into the affairs of the state-owned asset manager was an emotionally charged affair.
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