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AYO lists, signs BT partnership

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AYO Technology Solutions, African Equity Empowerment Investments’ (AEEI’s) ICT division, listed on the Johannesburg Securities Exchange (JSE) yesterday.

Trading in the Computer Services sector, AYO Technology becomes the largest listed BEE ICT group in South Africa.

Khalid Abdulla, group CEO of AEEI, says: ”I am absolutely delighted that we have achieved this milestone as part of our Vision 2020 Vision strategy. I have to convey my sincere thanks to the various teams who have worked fervently to ensure a successful listing. This is the largest capital raising exercise that the group has achieved to date and we are proud to be on track with our ground-breaking achievement.”

AYO is majority black-owned and managed with at least 30% of the company owned by women.

AYO has become an equity holder in British Telecommunications Southern Africa (BT), and the two companies have also entered into an alliance agreement, forming a strategic partnership in South Africa to grow within South Africa and abroad.

Kevin Hardy, newly-appointed CEO of AYO Technology, comments: “It is an exciting time for technology and for AYO in particular as we have the opportunity to forge a new path for South African technology companies into Africa and beyond.  With AYO Technology, we have built a very clear proposition that, while servicing the needs of people today, has the proven ability to innovate and deliver on what the future will determine.

“AYO intends to partner with its clients to enable and transform their business models, positioning their businesses for success in the digital economy. AYO intends to maintain the provision of excellent service delivery to clients, staying ahead of the technology curve and fostering a strong environment within all our businesses with very good growth prospects in the medium to long term.”