AYO Technology pays Cosatu investment arm Kopano ke Matla R1.3m dividend
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An investment in Ayo technology Solutions (AYO) in 2017 is starting to bear fruit for Cosatu investment arm Kopano ke Matla which recently received a R1.3 million dividend.
Kopano made the investment into the JSE-listed ICT investment organisation in December 2017 – a historical date for South Africa’s ICT sector which, until then, had been untransformed.
“Our investment into AYO was a long runway approach to sustained income for our beneficiary – Cosatu. We are very happy with the R1.3million we have received as a result," said Stephen Nthite, the chief executive at the Kopano Group.
The tech group has come under fire of late, for its decision to pay a dividend despite its healthy cash balance but a reduction in profits.
Nthite said: “We know that technology is having a major impact on the way we will work in the future and it was imperative that we have a stake in this. Although the investment has yet to be fully realised, due to the challenges (unwarranted) AYO is facing at present, it is still nevertheless a sound strategy for us to remain vested as technology’s influence will just increase and AYO is well-placed to grow with it.”
Cosatu is a trade union with a long and proud history of working towards a united working class that upholds the principles of democracy and a participative economy. The trade federation’s investment arm, Kopano, registered in 1996, focuses on listed entities to expand its horizons.
BUSINESS REPORT ONLINE