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WATCH LIVE: Iqbal Survé testifies at PIC commission

03 April, 10:48 AM

Iqbal Survé, the chairperson of media group Independent Media and the head of Sekunjalo, is giving evidence before the judicial commission of inquiry into state-run asset manager, the Public Investment Corporation, on Wednesday. 

Survé on Tuesday spoke about the skewed racial make-up of the economy, criticising the PIC for "reluctance to promote and invest in black companies on the JSE", which he said required re-evaluation. 

"Real economic wealth still vests in white-controlled and dominated companies," he said.

Several entities linked to Survé have benefitted from PIC funding, with executives who have testified before the commission speaking of pressure from former PIC CEO Dan Matjila to push through some of the deals involving companies, such as AYO Technology Solutions.

The inquiry, which started its work in January, is investigating allegations of wrongdoing at the asset manager, including in its internal governance and how it made controversial investment decisions.

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