PIC inquiry appears to show a lopsided emphasis


CAPE TOWN – In the 39 days that the Commission of Inquiry into alleged improprieties at the Public Investment Corporation (PIC) has been running, at least 20 days have had some focus on AYO Technologies and Sagarmatha in which Sekunjalo – owned by Dr Iqbal Survé – has an interest.

Would it be safe to say that the commission led by Judge Lex Mpati, assisted by Gill Marcus and Emmanuel Lediga, has so far spent half its time probing the PIC’s dealings with the two entities?

The terms of reference are succinctly clear … The commission must inquire into, make findings, report on and make recommendations on the following:

  • Whether there was any alleged impropriety regarding investment decisions.
  • Whether there are any findings of impropriety following the investigation.
  • Whether any PIC director or employee used his or her position or privileges, or confidential information.
  • Whether there is any legislation or PIC policies concerning the reporting of alleged corrupt activities.