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Busting the myth about a R2bn loan from the PIC
By Bongani Hans
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Sekunjalo Independent Media Consortium has busted the myth that the purchase of Independent Media, the biggest media group in the country, from the Irish for R2 billion was only through funding from the Public Investment Corporation (PIC).
The company appeared before the Standing Committee on Finance (SCoF) on Wednesday to detail the facts of how its umbrella body, Sekunjalo Group, actually sealed a deal with the Irish media company, which was the owner of Independent Media in South Africa at the time.
Independent Media’s delegation included Sekunjalo’s executive chairman, Dr Iqbal Survé, chief operating officer Takudzwa Hove, editor-in-chief Aneez Salie, editor of The Star, Sifiso Mahlangu, and Daily News editor Ayanda Mdluli.