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#PICInquiry: Iqbal Survé asked: Why not Silicon Valley? | IOL Business Report

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PICInquiry: Iqbal Survé asked: Why not Silicon Valley? busrep

Pretoria - Emmanuel Lediga, an assistant to the commissioner Justice Lex Mpati, on Wednesday questioned businessman Dr Iqbal Survé on why Sagamartha Technologies did not seek funding in Silicon Valley where multi-sided platforms are understood instead of approaching the Public Investment Corporation .

In his wide-ranging testimony which started on Monday. Survé has touched on the country’s black economic empowerment model; the PIC’s R4.3 billion investment in AYO; the scuppered listing of Multi Sided Platform company Sagarmatha Technologies; as well as the acquisition of Independent Media in 2013.

Survé, who confirms he is an investor in Sagarmatha , said Sagarmatha was the equivalent of an African Amazon which had huge potential for the African continent. Sagarmatha is a company that renders a multi-sided platform , which comprises technologies, services, or products that add value primarily by enabling direct interactions between two or more participating parties.

 

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