The one positive of this, even if some of it is depressing, is that there'll be life on the other side, writes Adriaan Basson.
The 955-page report, published on the Presidency's website, details how executives went to great lengths to conclude contentious deals, including intimidation of staff and misleading the board.
Iqbal Survé’s Ayo Technology Solutions already faces an existential threat from the PIC and now has to contend with a new blow – its most important client, Sasol, is running for the hills.
The former deputy finance minister and ex-chair of the PIC has denounced recent criticism by some senior ANC leaders of the state-run asset manager following its court bid to recoup its investment from Sekunjalo Independent Media.
The Johannesburg High Court has ruled that Independent Media remove two defamatory articles about a liquidator within 48 hours and pay damages of R300 000.
The perfidy of the two doctors – Dan Matjila and Iqbal Survé – is emerging from a matrix of court documents, evidence at the inquiry into the Public Investment Corporation and other information obtained by amaBhungane.
The Public Investment Corporation has lodged a liquidation application in the Western Cape High Court against the media group holding company over the non-repayment of a 2013 loan.
There are concerns that businessman Iqbal Survé's Sekunjalo Holdings could be moving assets offshore, PIC interim chair Reuel Khoza tells Business Times.
The head of Sekunajlo has said a link between comments made by PIC leadership in Parliament on Tuesday and a raid on the his offices offices by the market regulator last week.
Dr Iqbal Survé is blaming Pravin Gordhan for the raid on his office.
In a statement on Friday, Sekunjalo said the application for the raid was "entirely without merit and the judge that granted the request was "misled by the FSCA".
The long-awaited and newly released report into wrongdoing at the Public Investment Corporation, which manages civil servant pensions, details a litany of transgressions by its former CEO Dan Matjila.
AYO Technology Solutions managed to grow its headline earnings per share 11% amid a legal tussle with the Public Investment Corporation.
The state asset manager was criticised by ANC secretary-general Ace Magashule for its liquidation application against the company which holds a majority stake in the Independent Media group.
Dan Matjila bent over backwards to forgive all the debts owed by Iqbal Survé’s media group – and then some.
The book Paper Tiger by Alide Dasnois and Chris Whitfield paints an alarming portrait of the head of Sekunjalo Independent Media, writes Ferial Haffajee.
Independent Media, which is majority owned by Sekunjalo Independent Media, is the publisher of titles such The Star, the Cape Times and the Weekend Argus.
The already-strained relationship between the state asset manager and the Cape Town businessman has worsened.
The state asset manager was updating MPs about plans to recoup investments and loans.
A Western Cape High Court judge has taken the unusual step of making a public statement to deny a claim made by businessman Iqbal Survé that he is a friend of the DA and Minister of Public Enterprises Pravin Gordhan.
Iqbal Survé has alleged a conflict of interest on the part of financial regulator the FSCA.
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Apartments / Flats
R 9 950 000
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R 1 750 000
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