Press baron Iqbal Survé, the executive chairperson of Independent Media, has alleged he and the Sekunjalo group of companies are facing an unprecedented 'vendetta' by 'the establishment' to silence and destroy them. | Fin24
Press baron Iqbal Survé, the executive chairperson of Independent Media, has alleged that he and the Sekunjalo group of companies are facing an unprecedented"vendetta" by"the establishment" to silence and destroy them.
Survé and Sekunjalo want the court to rule that the presidentially appointed commission of inquiry reached conclusions that were"unjustified and inconsistent" with the evidence before it. They have asked the court to compel the commission to"expunge" all findings made about Sekunjalo entities. Since the Mpati report was published in early 2020, nine of SA's major banks have cut ties with entities in the Sekunjalo stable, citing fear of reputational damage.
The PIC is South Africa's state-round asset manager. It manages over R2 trillion in investments on behalf of public servants. When AYO listed on the JSE in December 2017, the PIC bought all its shares at issue for R4.3 billion. The group's shares have since plunged by over 90%. The PIC has instituted court action to recoup the R4.3 billion, which Sekunjalo is opposing.
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