By Masibongwe Sihlahla
AYO Technology Solutions has emerged as a beacon of innovation and growth in South Africa's technology sector. The company's strategic investments, coupled with its commitment to driving technological advancement, have positioned it as a valuable asset to both its investors and the broader economy.
Many investment pundits have given AYO a thumbs-up as good ROI, however unfortunately, not everyone shares this positive assessment of AYO. In a series of articles published by the Daily Maverick, writer Tim Cohen has launched a scathing and vitriolic attack on AYO, questioning its business model and painting a bleak picture of its future prospects.
However, a closer examination of Cohen's writings reveals a more sinister agenda. Cohen's articles are not the product of objective journalism but rather a concerted effort to undermine a successful black-owned business. His political slant is evident in his skewed interpretation of facts and his relentless pursuit of AYO's downfall. Rather than engaging in balanced reporting, Cohen seems to be acting on the orders of his paymasters, who, it appears, have a vested interest in preserving the financial security of those who benefited from apartheid.
The timing of Cohen's attacks on AYO is also noteworthy, coming as it does amidst growing calls for economic transformation and black empowerment in South Africa. It is as if Cohen and his backers sense a threat to their privileged position and are desperate to maintain the status quo. In conclusion, AYO Technology Solutions is a shining example of the potential for black-owned businesses to drive economic growth and empowerment in South Africa. Rather than engaging in baseless attacks and political machinations, we should celebrate AYO's success and learn from its example. It is time for South Africa to embrace the spirit of Ubuntu and foster an environment where black entrepreneurs can thrive. Let us not allow the likes of Tim Cohen to derail our progress towards a more equitable and prosperous society.
Any independent observer will testify that AYO has been a catalyst for economic growth in a country where it is sorely needed. AYO's contributions to South Africa's economic landscape are thus undeniable and only a fool with a racist agenda will question it. The company's operations have created decent jobs, stimulated local industries, and contributed to the country's overall technological development. By investing in disruptive technologies, AYO is helping to foster a more innovative and competitive business environment. For any company to be credible it needs to deliver value to its investors and in this regard AYO has not disappointed.
For investors, AYO offers a compelling proposition. The company's diversified portfolio of technology-related investments provides exposure to high-growth potential sectors. AYO's track record of delivering value to its shareholders is a testament to its effective management and strategic vision. It is unfortunate that certain individuals, such as Tim Cohen, have chosen to spread misinformation about AYO Technology Solutions. Instead of engaging in objective and fact-based reporting, Cohen's articles exhibit a clear political bias that undermines the principles of ethical journalism. What he writes is more a reflection of what is inside him than about AYO as they say "garbage in, garbage out". With BRICS on the brink of expanding to a worldwide power bloc of countries, a company like AYO is well positioned to enhance South Africa's position within BRICS.
Cohen's attacks on AYO can not merely be brushed off as a matter of personal opinion, it is abundantly clear that they serve a broader political agenda. By targeting successful black businessmen like those associated with AYO, Cohen is attempting to undermine the progress made by historically marginalized communities. His actions align with the interests of those who seek to maintain the status quo and protect the financial interests of those who benefited from apartheid. Did StratCom die? For those who wondered what happened to them I am convinced they are all happily employed at DM and News24.
It is imperative that journalists adhere to the highest standards of ethical conduct and avoid allowing personal biases or political agendas to influence their reporting. By spreading misinformation, Cohen is not only harming AYO but also eroding public trust in the media. Tim Cohen's writing seems more like party political opinion than ethical fair reporting and it is sad to see that freedom of expression that Dr Iqbal Survé and others who suffered under apartheid sacrificed for the very rights that Tim Cohen is now so glibly abusing.
AYO Technology Solutions has proven to be a valuable asset to South Africa's economy and a reliable investment opportunity especially for small investors. The company's commitment to innovation, growth, and ethical business practices is commendable and it is thus unfortunate that certain individuals, motivated by political agendas, have sought to undermine AYO's reputation through vitriolic misinformation. I cannot emphasize it enough that it is essential that the media uphold the highest standards of journalistic integrity at all times and not only when it suits them and also to avoid perpetuating harmful stereotypes or engaging in biased reporting. One may ask where was the editor of DM when Tim Cohen was writing this obvious garbage or does the poison pen of Time Cohen not warrant any editorial oversight?
In looking ahead let us be aware that in the midst of the chorus of false and acrimonious criticism levelled against AYO Technology Solutions (AYO), it is crucial to take a step back and consider the undeniable value that this black-owned technology company has brought to its investors in particular and the South African economy at large, a fact that not even Tim Cohen can deny but which he will conveniently forget to mention. Rather than engaging in baseless attacks, he should acknowledge AYO's transformation journey and its positive impact on our nation's tech landscape. AYO, founded in 2016, is a prime example of broad-based black economic empowerment (B-BBEE) in action. With its primary shareholder, Community Investment Holdings (CIH), being a 100% black-owned company, AYO has shown unwavering commitment to empowering black communities and promoting transformation in the tech sector. The company's rapid growth and expansion have created jobs, fostered skills development, and driven investment in critical infrastructure. AYO's portfolio spans across various sectors, including data centres, cloud services, cybersecurity, and telecommunications, making it a significant player in the digital revolution sweeping across South Africa.
AYO's success is a testament to the power of black entrepreneurship and the potential for black-owned businesses to drive economic growth and prosperity. The company's market capitalisation has grown exponentially since its listing on the Johannesburg Stock Exchange (JSE) in 2018, demonstrating the confidence that investors have in its future prospects.
* Masibongwe Sihlahla is an independent writer, political commentator and social justice activist.
** The views expressed do not necessarily reflect the views of Independent Media or IOL.