#PICInquiry: Iqbal Survé slams SA’s BEE model as a farce | IOL Business Report

  • 📰 IOL
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

PICInquiry: Iqbal Survé slams SA’s BEE model as a farce busrep

Pretoria - Dr Iqbal Survé, the chairman of Sekunjalo Group, has slammed South Africa’s black economic empowerment model, saying it is fundamentally flawed and needs to be reviewed urgently.

Survé was testifying before the Mpati Commission of inquiry into allegations of impropriety at the Public Investment Corporation in Pretoria on Tuesday. This came after Survé had left his career as a medical doctor to lead Sekunjalo Investments Limited, present-day African Equity Empowerment Investments , making him the youngest CEO of a diversified investment company on the JSE in May 1999.

“Upon reflection, I suggest that the model of black economic empowerment was not designed to bring about meaningful economic transformation but served as a mere entry point into the capital markets albeit in an artificial way. Over the next decade, I watched as prominent companies were destroyed as a result of the share prices failing to perform, the debt structures being unsustainable to the point that today black participation in the economy remains negligible.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

busrep After BEE -ing 'Surve-d' nicely, now how convenient of Iqbal to label BEE a farce.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PIC’s investment strategy 'racist' - Dr Survé | IOL Business ReportDr Iqbal Survé told the Mpati Commission that PIC's investment strategy is racist and favours white-owned and controlled ... busrep I don't know him. I just know his name. Listening to him in this PIC Inquiry. I'm impressed
Source: IOL - 🏆 46. / 51 Read more »

#PICInquiry: Sagarmatha listing scuppered by various players acting in bad faith | IOL Business ReportSurvé believed that various entities such as, the CIPC for reasons he believes were deceitful, were part of the reason why the deal fell through. busrep Sounds like bullshit to me.
Source: IOL - 🏆 46. / 51 Read more »

#PICInquiry: Sagarmatha listing scuppered by various players acting in bad faith | IOL Business ReportSurvé believed that various entities such as, the CIPC for reasons he believes were deceitful, were part of the reason why the deal fell through. busrep Sounds like bullshit to me.
Source: IOL - 🏆 46. / 51 Read more »