IT group AYO makes R258m loss as banking headaches continue | Business

News24 Business front pagePoor financial results have continued for AYO Technology Solutions, which incurred a pre-tax loss of R258 million in the six months to end February.

The IT group, a subsidiary of Iqbal Survé's Sekunjalo Investment Holdings, had made a loss of R85 million in the half-year ending in February 2022. The group said that FNB and ABSA had reopened the bank accounts they had previously closed following AYO's victory before the Competition Tribunal last year.

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