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PIC: Survé's claims factually misplaced, flawed, deceitful

Sekunjalo Investment Holdings' Iqbal Survé claimed that the PIC was working with the Financial Sector Conduct Authority, which carried out raids at its Cape Town offices last week, to cause harm to his businesses and himself.

FILE: A screengrab shows media mogul Iqbal Survé at the PIC Inquiry on April 2019. Picture: SABCNews/Youtube

JOHANNESBURG - The Public Investment Corporation (PIC) has hit back at Iqbal Survé for claiming it was involved in a raid at Sekunjalo Investment Holdings last week.

Survé made the claim on Tuesday after the PIC's head of legal Lindiwe Dlamini told Parliament that the PIC was considering submitting an application to liquidate Sekunjalo for failing to repay billions of rands in loans.

The PIC has rejected Surve’s allegations and said it was exploring all available options to ensure it recoups the money owed.

In a statement released on Wednesday, the PIC said Survé’s accusations were factually misplaced, opportunistic, flawed and deceitful.

Survé claimed that the PIC was working with the Financial Sector Conduct Authority, which carried out raids at its Cape Town offices last week, to cause harm to his businesses and himself.

He also warned the corporation that he would sue them.

Meanwhile, the PIC has taken legal action against Sekunjalo and it's subsidiary Ayo Technology Solutions to recoup its R4.3 billion loan with interest.

The PIC said it was also looking into claims that Sekunjalo and Ayo were planning to move their assets offshore.

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