Message from the Chairman

The road ahead

MESSAGE FROM OUR CHAIRMAN

Dear Stakeholder,

2020 is not a year that will be hastily forgotten not just by us at AYO but on a global level. Certainly no one could ever have predicted, or even imagined, the black swan events that took place, brought the entire world to a standstill and shuttered economies the Earth over. Yet, an optimist sees an opportunity in every challenge, and I am really proud of what the resilient, buoyant and capable team at AYO has managed to achieve in this remarkably gloomy year. Despite all the setbacks, all the curve balls, all the obstacles we faced, we have delivered a very positive performance, have reached many significant milestones and we are confident that the journey we have embarked on, will only lead to many more successes going forward.

Unlike many businesses who were ill prepared for the calamities of 2020, AYO’s challenges didn’t start with COVID-19. Since listing on the Johannesburg Stock Exchange back in December 2017, the AYO name has been implicated in a media whirlwind of false accusations, enquiries and investigations, which, albeit challenging at the time, turned out to be a blessing in disguise, as it conditioned our Group to take setbacks in our stride and turn every challenge into an opportunity to grow and flourish. It is this resilience that we have developed over the last couple of years that enabled us to be one of the very few groups, globally, to report on its successes and growth in 2020.

“YET, AN OPTIMIST SEES AN OPPORTUNITY IN EVERY CHALLENGE, AND I AM REALLY PROUD OF WHAT THE RESILIENT, BUOYANT AND CAPABLE TEAM AT AYO HAS MANAGED TO ACHIEVE IN THIS REMARKABLY GLOOMY YEAR.

1. SHARPENING THE SAW

Leading a solid, steady business can be a difficult job. New York’s Business Times reports that ninety percent of public companies worldwide failed to achieve sustained, profitable growth over the past decade. And the critical problem at the core of this phenomenon is that these companies are straying too far beyond the boundaries of their core business. Diversification comes at a cost, not the least of which, is sapping management time and resources.

Since 1996, AYO has been an investment holding company. Our core knowledge and experience, the way we add value, is to identify and acquire the right growth opportunities and then nurture them to fulfil their potential. Now, more than ever, South Africa needs its own young, innovative businesses supported. Thus, we took a step back from operating activities and sharpened our focus back to our core competence.

2. PUTTING PEOPLE FIRST

Streamlining operations did not come at the expense of our people. AYO has always placed the highest emphasis on good corporate citizenship and concentrated on improving the lives of people in our community. I am proud of our leadership’s approach in the face of the most significant global crisis we faced, in our lifetimes and the steadfast commitment to our employees physical, mental and financial wellbeing.

But AYO didn’t stop there. In the eye of the storm, AYO intensified its CSI focus and reach to assist the most vulnerable with the necessities to make their lives a little bit better in these difficult times. The Group’s commitment to advancing the wellbeing of the less fortunate has always been formidable but reflecting on the initiatives of 2020 brings tears of pride to my eyes.

3. PREPARING FOR THE ROAD AHEAD

The global COVID-19 lockdown in the second half of the reporting period lead to a subdued economic activity worldwide. Workers adjusted their lounges into make-shift offices. Restaurants shut down. Airports became enveloped in eerie silence. AYO took this opportunity to prepare itself for the exciting journey that lies ahead, as we are confident that even after the darkest night, dawn will come.

4. AYO IN EVERY HOME

Going forward, it is not inconceivable that AYO could be in every South African home, and the continent of Africa, for that matter, in one form or another within the next decade. If we can conceive it in AYO, we can achieve it. Our combined strengths, insights, expertise and experience will see us through and it is our steadfast aim to continue driving innovation and advancing life, business and economics, for the benefit of all African people.

We welcomed two new members to our Board – Professor Louis Fourie and Khalid Abdulla – whose expertise and strategic outlook are already making incredible contributions to the Group’s direction and investment strategy. We continued to improve our governance, reporting and processes. We appointed a new external auditing team and inaugurated a team of Group executives, which has done wonders for co-ordinating the operational management of the Group.

With that, we feel ready and powerful, like a sprinter at the starting line, excited to catapult the AYO Group and all our stakeholders to new heights. We are ready to build Africa’s own tech giant.

Credit is due to the Executive Management team and specifically the CEO, Howard Plaatjes, for their tenacity, resilience and grit in the eye of the perfect storm that was 2020. It is said that “God gives the hardest battles to his strongest soldiers” and AYO’s team certainly proved to be the fiercest army. They have worked tirelessly, tackling global adversity with confidence, strength and optimism and for that I am proud. They are capable, determined and ambitious and I do not have an ounce of doubt in my mind that with such a winning team the only way forward is up. I am humbled and grateful to steer
them into the exciting journey ahead and look forward to reporting on their inevitable successes in 2021.

Here is to an exciting journey ahead!