PIC Inquiry: I could have been a $10bn contender: Iqbal Survé rails against pesky critics By Greg Nicolson gregnicolson
Imagine an African company of the likes of Uber, Airbnb, Amazon, Lyft or Alibaba. South Africa missed its chance when plans to publicly list Sagarmatha Technologies were scuppered by “negative propaganda”, Sekunjalo chairman Iqbal Survé told the PIC Inquiry on Tuesday.
He spoke extensively on his commitment to supporting black-owned businesses in an environment dominated by white-owned companies and proudly told the inquiry, chaired by retired Justice Lex Mpati, that Sekunjalo had no debt.The following video was circulated on a WhatsApp group by Dr Survé himself:This isn’t about a platform for your personal views about white-black in South Africa. This is a non-racial country as far as I’m aware.
Survé said on Tuesday that Independent had immediately paid back R150-million in the Independent deal and Sekunjalo in 2018 offered to take over the PIC’s exposure to the group. The asset manager said in 2018 that it had an impairment of R1.06-billion in Independent Media.It is respectfully submitted that in the circumstances there is nothing untoward about this transaction,” said Survé on the Independent Media deal.
A court recently ruled that the CIPC’s instruction to the PIC to recover the R4.3-billion and any interest earned was unlawful, but the PIC has said it remains committed to getting its money back.
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