Public Investment Corporation Suspends Two Employees over AYO Technology Solutions Investment Probe

Posted on 03/17/2019


South Africa’s Public Investment Corporation (PIC) suspended Fidelis Madavo, head of listed investments. The reason for the suspension is due to a probe into PIC’s controversial investment in AYO Technology Solutions. PIC committed 4.3 billion ZAR to AYO Technology Solutions Limited, despite concerns the company was overvalued. AYO Technology Solutions is an IT technology solutions […]