NMT Capital, a boutique investment company co-founded by axed Old Mutual CEO Peter Moyo, says it is on track to pay off its Industrial Development Corporation (IDC) debt, as it seeks to clear its name after being ensnared in a public mud- slinging match between the insurer and its former boss.

Old Mutual, which sacked Moyo over conflict of interest and breakdown of trust, has painted NMT Capital as a firm with little regard for corporate governance, saying its directors pocketed millions in dividends before paying off a R157m loan from the IDC, as well as overdue preference dividends to Old Mutual, which owns a stake of about 20% in the company...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now