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 .
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.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.”
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Independent Media has only paid interest to Chinese investors, not PIC - SurvéIqbal Survé, Independent Media's chairperson, testified on Tuesday that the media group had only been making interest payments to a Chinese consortium and not to the state-asset manager the Public Investment Corporation. Fin24 If this guy was Pinocchio.... Fin24 Huh ? Fin24 Magda_Wierzycka This just gets better and better. Survey is basically saying Matjila agreed for the PIC to FORGO receiving interest payments, so the Chinese could get paid. Loans of R722m now at R1.5 BILLION with rolled up interest. Jesus on a bike. I give up.
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