It starts with a single unsubstantiated accusation carried in one publication that morphs into a full-blown widespread feature-length series, as articulated by AYO Technology Solutions’ independent chairperson Dr Wallace Mgoqi, in his article: “As Mgoqi puts it, AYO – a subsidiary of African Equity Empowerment Investments , whose majority shareholder is Sekunjalo Investment Holdings – has been subjected to a barrage of negativity that has morphed into claims of corruption and wrongdoing across...
SIH for example, is a solid black-owned African company, with a global presence. Its portfolio of investee companies includes media, asset management, biotechnology, civil security and defence, fishing and aquaculture, health and pharmaceuticals, communications and fintech among others. JSE-listed AYO has borne much of the barrage of media attacks. For example, its executives were dragged through the mud at the much-publicisedThe commission was essentially used to legitimise the media propaganda in the eyes of the public. However, unscrupulous industry players’ endgame was thwarted when the commission’s report made no adverse findings against AYO and related companies.
The endgame appears to be to tarnish the entire grouping’s reputation to the point that financial institutions and other businesses lose confidence in their companies, leading to demise, which will also result in job losses for thousands of South Africans. Pre-Covid-19, SIH issued a statement informing media corporations, their journalists and the business community that it would not be deterred from investing monies into media outlets such as INMSA.
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