Microsoft acts against EOH

Microsoft terminated longstanding partner agreements with JSE-listed technology services group EOH after an anonymous whistleblower filed a complaint about alleged malfeasance involving a South African department of defence software procurement deal with the US Securities & Exchange Commission (SEC).

The whistleblower, through a firm of attorneys, wrote to Seattle, Washington-headquartered Microsoft’s board of directors, asking it to investigate the matter and take appropriate action. The allegations centre on a contract, worth R120 million, awarded by the department of defence in 2016 to the EOH subsidiary, EOH Mthombo.

Following receipt of the letter, a Microsoft board committee hired Seattle law firm Perkins Coei to probe the matter. This led to an instruction by Microsoft to its SA subsidiary to terminate its agreements with EOH.

This article first appeared on TechCentral

Moneyweb

With Mauritius-based Grit Real Estate Income Group being one of the best performing property stocks on the JSE last year (in terms of capital appreciation), the Africa-focused fund plans to continue its listing in Johannesburg, despite listing on the London Stock Exchange last year.

That’s the word from Grit CEO Bronwyn Corbett, who said the group was now looking to be included in the influential FTSE/ JSE South African Listed Property Index (Sapy).

She was commenting on the company’s results for the six months ending December 31, 2018, which showed net property income increased to US$25.4 million from $17.5 million the prior year. Corbett said: “Grit is one of the better performing shares on the JSE, up some 20% over the