Molebatsi says he felt he was pressured when he worked on the Ayo Technology and Sargamatha deals.
Magula labelled the Ayo deal as a reckless investment decision as no proper due diligence was conducted. He says this put PIC at a disadvantage as it could not properly know the value of the asset it was investing in. This, he says, is after the loan was restructured and in the process the PIC partially lost its security to another lender Citibank.
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