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The PIC owes Sekunjalo and stakeholders a public explanation | IOL Business Report

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The PIC owes Sekunjalo and stakeholders a public explanation

CAPE TOWN – The Public Investment Corporation has been called upon to give a public explanation with regard to the claims that the asset manager was looking into liquidating Sekunjalo Investment Holdings.

The PIC’s acting executive head of legal, governance and compliance, Lindiwe Dlamini recently told Parliament that Africa’s largest asset manager was thinking about liquidating Sekunjalo to recover debts owed to it by Sekunjalo Independent Media. Dlamini made this claim during a question-and-answer session of the Standing Committee on Finance’s proceedings, where one of the committee members raised a question directed at the PIC’s investment in Sekunjalo Independent Media.

Sekunjalo is not taking this lying down. The company has again clarified that Sekunjalo Independent Media and Independent News & Media South Africa, not SIH, entered into agreements with the PIC. “The PIC is fully aware of the difference between SIH and SIM, yet, the PIC appears to conveniently conflate SIH with SIM in order to create the appearance that the two are one.”

 

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