Britain s BT Group dumps Sekunjalo as BEE partner techcentral.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcentral.co.za Daily Mail and Mail on Sunday newspapers.
British telecoms giant BT has announced it intends terminating its relationship with the Sekunjalo Group, revealing the identity of the ‘large client’ which plunged associated company Ayo into a loss when it recently announced its interim results.
Sekunjalo Group slams Mpati PIC investigation for âunfoundedâ allegations
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Cape Town - Sekunjalo Investment Holdings has slammed sections of the Mpati Commission report which implied improper conduct by the group despite no adverse findings or evidence being presented to support this.
The Mpati report was released last year following an investigation into the business practises at the Public Investment Corporation (PIC).
The Sekunjalo group believes there were numerous unfounded statements made in the report which has negatively painted the group and its companies.
In a presentation to Parliament s standing committee on finance, advocate Wallace Mgoqi put a case on various statements made in the report which have left allegations hanging against the Sekunjalo group.
The Public Investment Corporation has dragged another Survé-linked entity to court to recover overdue monies owed to the state-owned asset manager. The PIC is suing Independent Media to recover R392.6m. It’s also suing Sekunjalo Independent Media and Ayo Technology Solutions, both linked to.
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Busy week for SA Inc
Nerve-wracking time for Tongaat, banking issues at Ayo, another pot of gold for African Rainbow and a ârevoltâ at Glencore. 00:01
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Sweet paypackets for Tongaat executives eclipsed by Glencore CEO s extremely excessive deal. Image: Supplied
The Tongaat share price staged a remarkable recovery on Friday although the 11.4% bounce that day was not enough to see it reclaim all the territory it lost earlier in the week following the sugar and property companyâs worrying update on its debt restructuring.
No doubt many of the shareholders will have heaved a sigh of relief that the share price slide stopped at R8, well above the 12-month low of R4.50.