BUSINESS REPORT ONLINE
JOHANNESBURG - The commission of inquiry probing allegations of impropriety at the Public Investment Corporation (PIC) continues on Tuesday.
Dr Iqbal Survé is testifying before the PIC Commission of Inquiry on Tuesday.
Dr Survé is Executive Chairman of Sekunjalo Group and a shareholder in companies including Ayo Technology Solutions and Independent Media.
The underwriting of AYO’s shares at its listing in December 2017 recently fell under the spotlight at the PIC Inquiry, but AYO’s directors have said previously they were confident that the group’s investment processes would stand up to scrutiny.
President Cyril Ramaphosa has extended the lifespan of the commission at the PIC.
In a statement issued on Saturday, the commission of inquiry headed by Judge Lex Mpati in Pretoria, said Ramaphosa had acceded to the commission's request for an extension, with the new date of submission of the final report being July 31.
In accordance with its terms of reference, the commission submitted an interim report on February 15 and was scheduled to hand in its final report by April 15.
"In his interim report, submitted to the president on 15 February 2019, the chairperson of the commission Justice Lex Mpati requested an extension of three months. The motivation for the request is the extent of the ongoing investigations by the commission’s forensic team into a considerable number of transactions, which must be concluded well in advance of the date of submission of the final report to the president," the statement said.