Court's judgment on Ayo Technology: Glorious Sefako-Musi - vTomb

Court's judgment on Ayo Technology: Glorious Sefako-Musi

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The North Gauteng High Court has set aside a compliance notice which claimed that Ayo Technology must repay money it received from the Public Investment Corporation. Regulators wanted Ayo to repay nearly R4.3-billion, within a matter of weeks. In February, the Companies and Intellectual Properties Commission issued the asset manager with a compliance notice to recover its R4,3-billion investment in the JSE-listed technology company. The PIC was also ordered to recover any interest that may have accrued on the investment within six months.Meanwhile, the PIC's executive head of
Impact Investing, Royith Radjhar, continued his testimony before the commission of inquiry in Pretoria this morning. His testimony focused on Mobile Specialised Technologies. For more, we cross to our reporter Glorious Sefako-Musi in Pretoria.

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