PIC considering liquidation of Iqbal Survé’s Sekunjalo

The Public Investment Corporation (PIC) is considering liquidating Iqbal Survé’s Sekunjalo Investment Holdings - as well as court action to freeze the assets of its subsidiary, Ayo Technology Solutions.

BusinessLIVE reported that parliament’s finance committee heard on Tuesday that the PIC had issued a letter of demand to Sekunjalo over its failure to repay the loan it gave the company to acquire Independent Media.

The PIC’s head of legal services, Lindiwe Dlamini, said in reply to questions by MPs on Tuesday that the state-owned asset manager is looking at potentially liquidating the company.

Survé said in a statement that suggestions by PIC that “there is any basis on which the PIC can liquidate Sekunjalo [are] deceitful, reckless and aims to destroy and destabilise our business”.

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