WATCH LIVE: Iqbal Survé continues testimony at #PICInquiry | IOL Business Report

JOHANNESBURG - Iqbal Survé will today take the stand again at the Public Investment Corporation Commission of Inquiry. This comes after yesterday,where the Mpati Commission heard that t he PIC's investment strategy was racist and favoured white-owned and -controlled companies at the expense of firms started and managed by black entrepreneurs. According to businessman Dr Iqbal Survé, the state asset manager had spent a fraction of its R1.

Survé, executive chairman of the Sekunjalo Group and a shareholder in companies including AYO Technology Solutions and Independent Media, was testifying in Pretoria before the Mpati Commission of Inquiry into allegations of impropriety at the PIC. In a wide-ranging testimony, Survé also 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, as well as the acquisition of Independent Media in 2013.

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