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Africa’s Biggest Fund Manager Suspends Key Officials
JOHANNESBURG (Capital Markets in Africa) – South Africa’s Public Investment Corp., the continent’s biggest money manager, said it has suspended two employees after an investigation into a transaction with Ayo Technology Solutions Ltd. The PIC suspended Fidelis Madavo, the head of listed investments, and Victor Seanie, an assistant portfolio manager, the Pretoria-based fund manager said in a statement. Madavo gave evidence Tuesday before a commission that’s probing allegations of impropriety at the institution, saying there was…
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