South Africa - Pretoria - 03 April 2019. The chairman of the Sekunjalo Group Dr Iqbal at the PIC Commission of Inquiry.
Picture: Oupa Mokoena/African News Agency (ANA)
South Africa - Pretoria - 03 April 2019. The chairman of the Sekunjalo Group Dr Iqbal at the PIC Commission of Inquiry. Picture: Oupa Mokoena/African News Agency (ANA)

PRETORIA – Dr Iqbal Survé, the chairperson of Sekunjalo Investment Holdings, which owns Independent Media and has an interest in AYO Technology Solutions (AYO), said Deputy Finance Minister Mondli Gungubele told senior ANC members that he would crush his companies.

Testifying before the Public Investment Corporate Commission (PIC) of Inquiry into alleged improprieties, Survé said he believed there was some political interference in the PIC where Gungubele, its chairperson, might have been instrumental in frustrating attempts to recapitalise Independent Media.

Survé submitted to the commission that he was informed by members of the ANC National Executive Committee that when the party was delivering its election manifesto on January 8 in Durban, that Gungubele told other ANC NEC members in a gathering that he would crush Ayo, Independent Media and Sekunjalo.

“He told some NEC members that he will not allow any PIC decision to favour Sekunjalo. I do not want to betray their confidence but I am sure they would be more than willing to come and testify. He has made these statements in numerous other places. He told people that he is acting under instruction and that we are not toeing the line,” he said.

Deputy Minister was not reachable for comment at the time of compiling this report.

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Survé then said he was saddened by the utterances made by the PIC chairperson.

“It’s sad … When people mix politics with business it is sad. When they use state institutions it’s sad. I just heard this morning that the CIPC instruction came from a minister,” he said.

Survé was referring to a compliance order issued by the Companies and Intellectual Properties Commission (CIPC). The order has since been declared unlawful and was dismissed with costs. 

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