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Iqbal Survé claims PIC, media groups tried to sabotage listing of tech firm

Survé testified at the PIC commission of inquiry on Tuesday which is probing allegations of impropriety but has also focused on three companies tied to him.

FILE: A screengrab shows media mogul Iqbal Survé at the PIC Inquiry on 2 April 2019.

JOHANNESBURG - Businessman and media mogul Iqbal Survé has lashed out at the Public Investment Corporation (PIC) and media groups, accusing them of trying to sabotage the JSE listing of one of his technology companies.

Survé testified at the PIC commission of inquiry on Tuesday which is probing allegations of impropriety but has also focused on three companies tied to him AYO Technology Solutions, Independent Media, and Sagarmatha Technologies.

He said that had the PIC invested in Sagarmatha, it would be worth billions of rand today.

Survé didn't hold back when criticising media group Tiso Blackstar, eNCA and the PIC, who he blamed for sabotaging Sagarmatha’s listing on the JSE by lobbying the Companies and Intellectual Property Commission.

He said that the company could have helped the continent resist a form of corporate colonialism but the PIC didn't invest R3 billion as planned.

He also spoke about his commitment to supporting black-owned businesses in an environment still dominated by white-owned companies.

As the chairperson of the Sekunjalo investment group, Survé also boasted that the company was not enslaved by white businesses, banks or institutions.

Commissioner Gill Marcus said she was offended by his constant reference to white institutions and race, saying the inquiry was not a platform for his personal views.

(Edited by Thapelo Lekabe)