Retired Judge Lex Mpati. File Photo: IOL
JOHANNESBURG - The Public Investment Corporation (PIC) Commission of Inquiry into impropriety, led by retired Judge Lex Mpati continues today in Pretoria. 

The first person on the stand today is Siphiwe Nodwele. He was the Head of Mergers and Acquisitions at EOH Industrial Technologies. Nodwele was also with Ayo Technology Solutions.

Last week political parties agree with businessman Dr Iqbal Survé that the Public Investment Corporation (PIC) had failed to transform the economy or to unlock monopolies in the country.

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

In his testimony, Survé said the PIC’s investment strategy was racist, in favour of white-owned and controlled companies at the expense of firms started and managed by black entrepreneurs.

A number of political parties yesterday concurred with Survé. They said the PIC was anti-transformational, declared its investment decisions to be racist and accused it of running its affairs in a clandestine manner.

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