We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

In an unprecedented move, the organisation that administers and enforces the Companies Act has instructed the Public Investment Corporation (PIC) to recover the R4.3bn it invested in Ayo Technology Solutions. In making the investment, directors had knowingly caused harm to Africa’s largest asset manager, the Companies and Intellectual Property Commission (CIPC) said in a compliance letter sent by commissioner Rory Voller on Thursday. It is the latest in a snowballing series of disasters for Ayo and Iqbal Survé, who holds a large indirect stake in the company. If you are already a subscriber, please click on the following link to go to the full article: PIC directors told to recoup Ayo billions If you would like to subscribe to BusinessLIVE to read the full story, please click here.

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