The Public Investment Corporation has hit back at Iqbal Survé, the chairperson of investment holding company Sekunjalo, for saying there was a link between comments made by PIC leadership in Parliament on Tuesday, and aOn Tuesday state asset manager, which manages about R2.1bn on behalf of public servants, briefed Parliament's standing committee on finance regarding the group's financial results.to liquidate Sekunjalo for the non-repayment of a 2013 loan.
"The correct position is that the PIC is not a party to any regulatory investigation by the FSCA into Dr Survé or his business entities that led to last week's search and seizure operation by the FSCA. An attempt to link the PIC’s response and anticipated actions in respect of its investment in Sekunjalo and AYO to last week’s raid at Sekunjalo’s Offices is factually misplaced, opportunistic, flawed and deceitful," said the PIC.
While the Financial Sector Conduct Authority, which carried out the raid, has not confirmed which company it was targeting, Survé previously said it was related to AYO Technology Solutions, an IT company in the Sekunjalo group that listed on the JSE in late 2017 after receiving R4.3bn in investment from the PIC.The PIC, meanwhile, has instituted a court case against AYO to compel it to return the full investment plus interest.
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