Peter Moyo’s NMT fights back over IDC loan
Investment firm ensnared in public mudslinging match between Old Mutual and its former CEO
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...
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