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Sekunjalo’s Survé blames 'smear campaign' for failed Sagarmatha listing

In 2018, Sagarmatha Technologies failed to list on the Johannesburg Stock Exchange after it was unable to secure R3 billion from the Public Investment Corporation.

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

JOHANNESBURG - Sekunjalo chairman Dr Iqbal Survé says his company Sagarmatha Technologies was denied being the next multi-billion-dollar corporation because of negative publicity it received from South African media.

In 2018, Sagarmatha failed to list on the Johannesburg Stock Exchange (JSE) after it was unable to secure R3 billion from the Public Investment Corporation (PIC).

The PIC inquiry focused on deals the investment corporation has with Survé’s three companies, namely Independent Media, Ayo Technologies and Sagarmatha.

Survé denied allegations the prices of the deals were inflated and only received funding from the PIC because of his close relationship with former PIC boss Dan Matjila.

Survé says the deal failed because of what says was a smear campaign against him.

“It didn’t happen because what Tiso Blackstar has done is made me the face of the campaign that defamed me and lied about me repeatedly.”

WATCH: Iqbal Survé at the PIC Inquiry

(Edited by Zamangwane Shange)