NEWS ANALYSIS: Ayo’s cash whittles away in dividends to Survé’s AEEI
The tech company is paying out hundreds of millions of rand despite the PIC and GEPF wanting their money back
24 December 2020 - 15:07
UPDATED 24 December 2020 - 15:52
Ayo Technology Solutions, the company indirectly controlled by businessman Iqbal Survé, continues to utilise the cash provided by the Public Investment Corporation’s (PIC) questionable investment in the company for a range of activities, including the payment of outsize dividends.
This emerged earlier this week after the publication of Ayo’s 2020 audited annual financial statements for the year-ending August 2020, which saw revenue rise 47% to R2.88bn...
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