Surve’s Sekunjalo Investment files for formal legal review of the Mpati Commission report

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Media mogul, Iqbal Surve’s Sekunjalo Investment Holdings and 50 of its allied companies have filed for a formal legal review of the Mpati Commission report in the High Court in Cape Town.

It follows an independent review of the report by former judge Advocate Willem Heath who recommended that Sekunjalo had just cause and grounds for a full review.

The Mpati report which was released in 2020, is a judicial commission of inquiry into the Public Investment Corporation.

It found that the entity, which manages investments on behalf of public servants, improperly invested billions into Surve’s Sekunjalo group.

In a statement, Sekunjalo accused the commission of a vendetta and said it unfairly and unlawfully targeted it for investigation.

The Public Investment Corporation 

In 2019,  Survé told the inquiry into the Public Investment Corporation that if company Sagamartha had listed on the Stock Exchange in New York, it would now have a bigger valuation than the banking group ABSA.

He’s also denied that he and former PIC CEO Dr. Daniel Matjila were friends, saying they were only business associates.

However, Survé said he and Matjila are business associates because they do not have what he calls the network of the white community in business.

VIDEO: Analysis of Dr. Iqbal Survé’s testimony – Khaya Sithole: