The Mpati commission of inquiry into the affairs of the Public Investment Corporation (PIC) heard testimony this week from Ayo executive Malick Salie that appeared to directly contradict what businessman Iqbal Survé has previously told the inquiry about his own role in the listing of Ayo Technology Solutions. Salie worked on the listing as an executive of African Equity Empowerment Investments (AEEI), a company indirectly controlled by Survé and which remains Ayo's largest shareholder. "During the listing period the [AEEI] team had various interactions and meetings with Survé, who set the tone for the PLS [pre-listing statement - a document circulated to investors before a listing] and provided his expectation of the valuation of Ayo," said Salie. Salie was appointed Ayo's chief investment officer earlier this year, a position which included being made an executive director of the company. Salie resigned his directorship earlier this month but remains an employee. The controversial ...
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