Statement ‘invalidating’ investigations into Iqbal Survé condemned by Western Cape Sanco

The South African National Civic Organisation (Sanco) in the Western Cape has condemned a statement it said was issued by the coordinator of the ANC Interim Provincial Committee (IPC) seeking to “invalidate investigations” in Dr Iqbal Survé and his companies.

 The Financial Sector Conduct Authority (FSCA) recently conducted raids at Sekunjalo Investment Holdings, the offices of controversial businessman and publisher Survé, which the authority said were part of an investigation into allegations of prohibited trading practices (market manipulation), and possible contraventions of section 80 of the Financial Markets Act.

The provincial Sanco has said it found the statement issued by the coordinator of the ANC IPC Ronalda Nalumango on Monday “extremely alarming and concerning”.

In a statement issued by the organisation’s chair, Thando Dedezana, on Tuesday, the organisation said the committee “has taken the misguided decision to invalidate investigations currently underway regarding Dr Survé and his companies”.

“This is a seriously misguided action and calls into question the independence and credibility of the [IPC] of the ANC WC and its leadership,” the statement reads.

The organisation said Nalumango’s statement “is spitting in the face of our system of rule-of-law”.

“It is morally apprehensible to issue such statements regarding investigations currently underway without allowing legal due processes to be completed.”

The organisation said Nalumango’s statement dilutes the independence and credibility of the FSCA and the country’s rule of law.

It said those who had been found to be in breach of the law and had violated the country’s Constitution should face the consequences regardless of their struggle credentials.

In the statement, Sanco reiterated a call for the ANC in the province to undergo a full forensic investigation which it said it had made along with the South African Communist Party and the Congress of South African Trade Unions.

“We also call on Ms Ronalda Nolumango and the AN [IPC] to withdraw the statement released yesterday, October 21, regarding Dr Iqbal Survé and allow the uninterrupted investigation into Dr Surve and his companies to continue without political interference.”

(Compiled by Makhosandile Zulu.)

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