Executive head of listed investments at PIC Fidelis Madavo.
Executive head of listed investments at PIC Fidelis Madavo.

Evidence leader Jannie Lubbe has told the commission of inquiry into the Public Investment Corporation that he was informed that executive head of listed investments Fidelis Madavo been suspended with immediate effect following information from the investigation into the Ayo transaction.

Madavo, who is giving evidence at the inquiry says that he doesn’t know why he is being suspended as he was not involved in the Ayo transaction.

He says that he was overseas at the time of the transaction.

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