CHAIRMAN of the Sekunjalo Group Dr Iqbal Survé testifying at the PIC Commission of Inquiry yesterday. Oupa Mokoena African News Agency (ANA)
JOHANNESBURG -  Iqbal Survé will today take the stand again at the Public Investment Corporation (PIC) Commission of Inquiry. 

He is expected to be cross-examined by Adv Jannie Lubbe. 

This comes after yesterday,where the Mpati Commission heard that t he PIC's investment strategy was racist and favoured white-owned and -controlled companies at the expense of firms started and managed by black entrepreneurs.   According to businessman Dr Iqbal Survé, the state asset manager had spent a fraction of its R1.6 trillion investment in Johannesburg Stock Exchange-listed firms on black companies.

Survé, executive chairman of the Sekunjalo Group and a shareholder in companies including AYO Technology Solutions and Independent Media, was testifying in Pretoria before the Mpati Commission of Inquiry into allegations of impropriety at the PIC.

In a wide-ranging testimony, Survé also touched on the country’s black economic empowerment (BEE) model,  the PIC’s R4.3 billion investment in AYO, the scuppered listing of multi-sided platform company Sagarmatha, as well as the acquisition of Independent Media in 2013.  

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