As per @JolyonMaugham, the £252.5 million government contract granted to an obscure finance firm to supply face masks to the NHS and care workers appears somewhat curious.
Ayanda Capital describes itself as an investment firm focused on currency trading, offshore property, private equity and trade finance.
It is a small company (tangible assets of £45k in last accounts). Directors include Tim Horlick, former investment banker and ex-husband of well known City figure Nicola Horlick.
The contract seems to have been directly awarded and not advertised. Ayanda is owned by a company registered in Mauritius that is controlled by the Horlick family. Accounts show the entity that won the contract owes £3.2 million to the offshore company and the Horlicks.
A previous company run by Mr Horlick and co-director Nathan Engelbrecht, Blockchain Group, was subject to a wrongful trading investigation by administrators, official filings show. It was dropped because there wasn't enough money in the bust company to finance the investigation.
Another entity linked to the pair, Bitcoin Global Capital, a cryptocurrency venture, was subject to concerns about the handling (and mixing) of client, director and company funds.
The department of health and social care today declined to reveal details of the contract or tendering process, or whether a government adviser on Ayanda's board had any role in securing the deal.
Neither the government nor Ayanda would say how many masks were supplied but Ayanda said the contract had been “successfully fulfilled” (it was due to end in April) and that proper procurement processes had been followed.
The department of health told me due diligence had been carried out and the procurement had been within the rules. It said performance details would be published “in due course” along with a redacted copy of the contract.
Expecting Labour and @JolyonMaugham to keep asking questions on this curious affair. Here is the statement that Ayanda sent me earlier today. 
Critical for government to tell us how many masks were supplied. People with actual experience of supplying PPE say it will have been in the many billions for that price and buying power.
