Iqbal Surve's Sekunjalo wants to sue govt for R75bn, more than SA's defence budget

Iqbal Surve's Sekunjalo Investment Holdings says it has given notice to President Cyril Ramaphosa, National Treasury, the minister of finance, and the minister of justice and state attorney that it intends to sue them for billions of rands in damages and for alleged loss of earnings. 

Sekunjalo said it was planning to sue Ramaphosa and co. for R75 billion – more than South Africa's annual defence budget - without describing exactly how the figure was calculated. 

Presidential spokesperson Vincent Magwenya said on Tuesday the state's legal team would "engage the process". "We don't run public statements," he added.