JOHANNESBURG - Commission chair Judge Lex Mpati said he hoped Ayo Technologies senior executive Abdul Malick Salie would not face repercussions for giving testimony.
Salie gave evidence against the company's Iqbal Survé, claiming he instructed them to inflate the value of Ayo to attract investment from the PIC.The JSE now wants external audits.“I know there might be consequences in terms of the evidence you’ve given. It has thrown light on many aspects, particularly Ayo, and we thank you in this regard.”
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WATCH LIVE: Former Ayo board member gives insight into PIC investmentFormer Ayo board member Abdul Malik Salie gives evidence at the PIC inquiry on the inner workings of the firm and the investment deal with the Public Investment Corporation.
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Ayo Technology Solutions deal under scrutinyMalick Salie testified before the Commission of Inquiry into the Public Investment Corporation.
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PIC INQUIRY: Former Ayo board member implicates Iqbal Survé directly in bogus valuation of companyThe commission of inquiry into allegations of impropriety at the Public Investment Corporation is unpacking how the PIC came to invest R4.3-billion in Iqbal Survé’s Ayo Technology Solutions in 2017. On Tuesday 14 May 2019, a former Ayo board member dropped Survé in it personally — by alleging that he was intimately involved in the process of artificially inflating Ayo’s valuation.
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