South Africa: Swerve On Survé - R1 Million Donation Falls Foul of ANC Factional Strife

Left: Sekunjalo Investment chief Iqbal Survé. Right: ANC flag.
analysis

On the eve of Election Day, the Western Cape ANC announced it would return a donation it had accepted just two days earlier from Iqbal Survé and his Sekunjalo Investment Holdings company. Sekunjalo has controversially benefited from Public Investment Corporation investments. This egg-on-face situation happened as factional interests compete on the campaign trail. In another twist, Survé hit back, fingering Deputy Finance Minister and PIC chairperson Mondli Gungubele as being behind the move.

Officially, Western Cape ANC officials and party elections chief Ebrahim Rasool had a chance to review the Sekunjalo donation only on Tuesday. The meeting decided against it and told ANC treasurer Maurencia Gillion to immediately return the donation.

"We had no time to do such an assessment or to consider how such a donation would be perceived, given the revelations made at the commission of inquiry regarding the Public Investment Corporation (PIC)," said acting ANC Western Cape chairperson Khaya Magaxa on Tuesday. This was a clear reference to the PIC inquiry into a series of questionable investment decisions by the government-owned asset manager, which controls some R2-trillion in government employees' pensions and social savings.

The PIC inquiry President Cyril Ramaphosa instituted continues to probe a series of...

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