Published 22 May 2018, by Adri Senekal De Wet

CAPE TOWN – JSE-listed AYO Technology Solutions Limited (AYO), which was established in 1996 and is one of South Africa’s largest broad-based black economic empowered ICT companies, has entered into a significant long-term partnership agreement with integrated chemical and energy multinational Sasol.

The agreement was announced yesterday.

Through the partnership, AYO will deliver and manage a set of global network, communications and security services.

The contract will be managed and run by AYO with a highly motivated and skilled team and would also contribute to Sasol’s transformation requirements.

AYO also meets Sasol’s transformation objectives with a high-level of ICT skills at its core, underpinned by an ownership base comprised of more than 70percent black ownership and 33percent black women ownership.

AYO will play an integral role in delivering on and managing the existing managed services contract as well as participating, where relevant, in Sasol’s digital transformation plans.

Kevin Hardy, the chief executive of AYO Technology Solutions, was excited about being part of this new era and stated: “We at AYO are extremely proud that Sasol’s management has chosen us to partner with them in this journey.

Please read the full article here:

Published 17 May 2018, by Adri Senekal De Wet 

CAPE TOWN – South Africa is ready to welcome 1 000 business leaders to the country.

Preparations for the Brics Business Council meeting in Durban on July 22 and 23 are at an advanced stage, as are those for the Brics Business Forum, which will be held in Gauteng on July 25.

“The Brics Business Council meeting and the Brics Business Council Forum present the ideal opportunity to meet the requirements set by President Cyril Ramaphosa to attract significant foreign investment to the country and continent,” said Dr Iqbal Survé, chairman of the South African chapter of the Brics Business Council.

Dr Survé has been on the Brics Business Council since its inception, contributing to continuity of leadership and understanding of the mechanisms, protocols, logistics and preparation required for the annual meeting.

Please read the full article here:

Published 17 May 2018, by  Sandile Mchunu 

JSE-LISTED Premier Fishing and Brands has acquired a 50.3 percent stake for R85 million in the Talhado Fishing Group in South Africa after the competition authorities and the department of agriculture, forestry and fisheries (Daff) gave the transaction the green light yesterday).

JOHANNESBURG – Premier chief executive Samir Saban said the approval saw the group fulfilling all the outstanding conditions to the transaction.

Saban said Talhado would extend Premier Fishing’s footprint in Europe. He said Talhado would be a strategic value-add to the group.

“This acquisition would lead to further synergies among the existing operations and enhance value to all stakeholders of Premier,” Saban said.

Premier Fishing is one of the largest black owned and managed fishing companies in South Africa.

The deal was first announced in October last year, with the effective date of acquisition being in November, making it one of the largest transaction made by Premier since its listing in March 2017.

Saban said Talhado had a solid asset base in the squid sector and the benefits were expected to be realised within the short- to medium-term.

Please read the full article here:

Published 16 May 2018, by Nick Hedley

Ayo Technology Solutions said on Tuesday it was in advanced discussions on several deals and on track to capture up to 8% of SA’s information and communication technology market by 2022.

“Management remains confident that the forecasts in the prelisting statement to 2019 remain achievable, given new contracts and the expected acquisitions that Ayo will be announcing,” said the company, which listed on the JSE in December.

In the six months to February, Ayo’s revenue increased 49% to R349m while operating profit rose 55% to R45m.

Please read the full article here:

Published 15 May 2018, by a Staff Reporter 

JOHANNESBURG – JSE-listed AYO Technology Solutions Limited (AYO), one of South Africa’s largest black economic empowered ICT companies, today announced outstanding interim results to 28 February 2018, showing excellent revenue and profit growth for the period under review.

AYO is fully compliant with the new ICT BBBEE codes and has exceeded the minimum requirements.

Having successfully listed on 21 December 2017, AYO has effectively been listed for 2 months of the reporting period and in the 5 months to date has already shown excellent organic progress in delivering on its strategy presented in its pre-listing statement, issued on 13 December 2017 (“Pre-Listing Statement”).

Highlights 

  • Revenue increased by 49% from R234m to R349m
  • Operating profit increased by 55% from R29m to R45m
  • Profit before tax increased by 173% from R30m to R82m
  • Earnings per share increased by 111% from 8.37 cents to 17.68 cents
  • Headline earnings per share increased by 107% from 8.37 cents to 17.36 cents

Kevin Hardy, Chief Executive officer of AYO is confident in the Group’s performance saying, “I am exceptionally pleased with the interim financial results for the six months to 28 February 2018, especially since the company has only been listed for two months to this reporting date.  AYO is very firmly on track with its growth plans.

Please read the full article here: