AMABHUNGANE: How PIC’s R4.3bn Ayo investment is being spent on Independent Media’s bills, Survé’s properties and Friends of Iqbal

VoltAfrica was until very recently a Sekunjalo company. It was called Independent Digital Lab and owned by Sagarmatha Technologies, which belongs to Survé’s Sekunjalo.Then Independent Digital Lab/VoltAfrica was bought by, or transferred to, a company called Apollis Millennial Investments.

One of VoltAfrica’s three active directors is Kubeshnee Subrayan, who was on the Ayo payroll in early 2019. Samantha Naidu, who lists herself on LinkedIn as the chief executive of VoltAfrica, was previously the head of direct advertising for Independent.Ayo does not give any hint in its financial statements and limited responses to questions that the investment in 4Plus required any related party disclosure.“There is no related party relationship as this is an independent consortium.

She gives her residential address as a unit in the extremely expensive Silo development in Cape Town’s V&A Waterfront. Before breaking off communication, she did however provide her address – the same Silo apartment where her sister lives and which belongs to the Survé company.One mystery remains. If Ayo now owns 15% of 4Plus and its subsidiary Volt, who owns the rest?

Company records show that, on the same day she became a director of Womans Technology Investments, Kota-Fredericks also became sole director of five other companies linked to Survé. Another item in the Ayo reviewed results is a small related party note that the company has paid rent to two different entities.The other was Prodirect Investments 112, the Survé company that owns the luxury Silo apartments. The rent of R1.73-million would cover a large proportion of the payments on the bonds of R22.65 million registered over some of these units.’s questions about Ayo apparently paying off Survé’s personal debt, like most questions, went unanswered.

amaBhungane dewaldvanRensbu 🤣 🤣 🤣 🤣 The commission cleared him, go get facts somewhere

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