R4.3bn investment at Ayo Technologies: PIC suspends CEO

Die Vryburger

R4.3bn investment at Ayo Technologies: PIC suspends CEO
R4.3bn investment at Ayo Technologies: PIC suspends CEO

The Public Investment Corporation (PIC) has announced major errors in investments at Ayo Technology Solutions.

This led to the immediate suspension of two senior executives Fidelis Madavo, CEO of listed investments as well as assistant portfolio manager Victor Seanie.

Procedures do not appear to have followed the R4.3bn investment at Ayo Technologies. It also seems that the price of shares out of context is highly rated so as to pay more than the value of the shares.

Read the original article in Afrikaans on Die Vryburger

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