The fund manager paid an inflated R43 a share at the listing, while the market valued Ayo at R20 a share. AYO Technology is the 21 st company to list on the JSE this year.. Donna Nemer, Director: Capital Markets at the JSE, says the JSE is proud to provide a platform for AYO Technology to raise the capital it needs to fund its further expansion. Ayo Technology Solutions (JSE:AYO) has listed on Software and Computer Services sector of the JSE’s Main board. In short, the PIC invested R4.3-billion by buying AYO Technology shares at the time that it listed at the end of 2017 at R43/share, thereby acquiring a 29% stake in the company. The fund is aimed at second-round funding opportunities for companies that have a proof of concept and that are ready to scale. The AYO Group comprises businesses that are leaders in their respective niche markets, have solid client bases and achieved high levels of sustained organic growth. Education. The scandal stems from PIC’s two-year investment in Ayo Technology Solutions Ltd, an information technology company. Johannesburg Stock Exchange (JSE)-listed technology investment group AYO Technology Solutions has launched a ZAR200 million (US$12.7 million) fund to help African startups grow. The share price has since slipped by more than 90% since 2017. The R4.3 billion infusion, made by … The group also holds a 30% stake in British Telecoms SA. Head of Talent of AYO Technology and Innovation Fund: N/A: N/A: N/A: Amounts are as of December 31, 2020 and compensation values are for the last fiscal year ending on that date. The Youth Technology Innovation Fund (YTIF) is aimed at promoting and stimulating the culture of technology innovation and entrepreneurship amongst the youth by providing access to financial and business support resources. AYO Technology Solutions has not provided enough past data and has no analyst forecast, ... Head of Talent of AYO Technology and Innovation Fund: no data: no data: no data: Show more. As a niche market enterprise, AYO Technology group was established in 1996, and has evolved over this time through continually adapting to the local and international ICT landscape. The PIC invested in Ayo Technology Solution as part of the listed portfolio mandate. The first splash came in on Friday, March 6, when JSE-listed technology investment group, AYO Technology Solutions, launched a USD 12.7 Mn (ZAR 200 Mn) annual fund to help African startups grow. “It is an exciting time as we stride alongside giants in technology innovation. African-born startup launches education platform that encourages entrepreneurship. Iqbal Survé’s Ayo Technology Solutions already faces an existential threat from the PIC and now has to contend with a new blow — its most important client, Sasol, is running for the hills. AYO is forging the way for many and this is an opportunity for medium to long term growth prospects,” says Abdulla. Ayo – which means joy and happiness – offers an array of services in the information technology and telecommunication sector. It is an exciting time as we stride alongside giants in technology innovation. The 2 nd place goes to Securaxis, walking away with an IP Game plan from Von Seidels to the value of R30 000, an ANZA digital tour and a tablet from On The Ball College for being the PRE Crowd favourite.. Ayo has said that there is nothing untoward about the PIC transaction. But as . Broad based black economic empowerment ICT group, Ayo Technology Solutions has listed on the JSE’s Main board. New content will be added as it is available. Thus at the time of its listing, the investment in Ayo fell outside of the unlisted investment portfolio within which there are set governance processes and there are limits set for the PIC to engage the GEPF. Accounting loss for AEEI after regaining control of Ayo Technology Ayo Technology is now considered a subsidiary, from an associate before 19 December 2019 - 09:17 karl gernetzky 2.2yrs. About AYO. This also brought about an escalation in the number of entries to this year’s awards, with high expectations and anticipation for what the 2021 edition will attract.The Awards evening was also the platform at which technology investment giant, Ayo Technology Solutions (AYO), announced their new R200 million annual technology and innovation fund. Although we will attempt to keep information in the TIA web site accurate, the accuracy of the information provided cannot be guaranteed. The 1 st place go to Ambani, receiving an IP Game Plan from Von Seidels, $1800 Zoho credits and will be put forward to AYO Technology Solutions Fund for an investment offer. Founded in 1996, AYO Technology Solutions is a technology investment company with interests in disruptive technologies that advance life, business and economics. The PIC has fired assistant portfolio manager Victor Seanie for his involvement in the R4.3-billion investment in AYO Technology Solutions, owned by Iqbal Survé, pictured above. Experienced Management: AYO's management team is considered experienced (2.2 years average tenure). The group’s diverse investment portfolio touches on all aspects of technology from connectivity to communications and software development. That said though, ideas that use technology to propel them forward are of particular interest to Ayo Technology Solutions (AYO), who will be involved at this year’s SA Innovation Summit. PROFILE As a niche market enterprise, AYO Technology provides effective information and communication technology (ICT) business solutions and services that enhance business performance in government and to corporate customers. AYO, a South African technology investment group has launched a $12.7 million fund to support and invest in African startups.. The Technology Innovation Agency (TIA) web pages are frequently updated and improved. Average Tenure. As part of the new fund, AYO will allocate ZAR200 million each year to help qualifying companies, organisations and entrepreneurs scale their businesses. The company was previously called Sekunjalo Technology Solutions and is a subsidiary of JSE-listed African Equity Empowerment Investments (AEEI). Iqbal Survé-controlled Ayo Technology Solutions’ cash balance is declining at a rapid rate according to financial results for the year ending August published on Friday. Ayo ’s Technology Innovation Fund would have $13 million to annually invest in equity stakes in startups The fund says it will make equity investments in businesses it identifies for funding. 2020 Notice of Funding Opportunity (NOFO) – 80 Years of Exchanges… JOHANNESBURG - The Public Investment Corporation (PIC) investment committee has given its backing to the fund manager’s decision to invest in AYO Technology … Founded in 1996, AYO Technology Solutions is a flagship South African technology investment company with interests in disruptive technologies that advance life, business and economics. AYO Technology is the 21st company to list on the JSE this year. about technology innovation agency TIA is a national public entity that serves as the key institutional intervention to bridge the innovation chasm between research and development from higher education institutions, science councils, public entities, and private sector, and commercialisation.