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Survé: All Ayo Technology's deals with PIC above board

A number of companies linked to Iqbal Survé that received billions in funding from the Public Investment Corporation (PIC) came under scrutiny on Wednesday at the PIC inquiry.

A screengrab of Sekunjalo chairperson Iqbal Surve giving testimony at the PIC inquiry on 3 April 2019.

JOHANNESBURG - Businessman and media mogul Iqbal Survé has denied allegations that his company Ayo Technologies flouted procedure to acquire a controversial R4.3 billion loan from the Public Investment Corporation (PIC).

The PIC is currently the subject of a judicial inquiry chaired by Justice Lex Mpati following allegations of impropriety and issues of governance.

A number of companies linked to Survé that received billions in funding from the PIC came under scrutiny on Wednesday.

Survé said all his deals with the PIC were above board.

He said: “Look, there are two sides to every story, sometimes there are three sides. From what I’ve read, the board members of the PIC were saying there was nothing wrong with the transaction.”

(Edited by Mihlali Ntsabo)