Published 09 May 2017, by Sandile Mchunu

African Equity Empowerment Investments (AEEI) released a trading update on Monday informing its shareholders that it expected basic earnings per share for the six months to end February 2017 to be between 28.08 cents and 30.88c a share.

This is up from the 14.04c reported in 2016.

This will represent an increase of between 100 percent and 120 percent.

The company also expects a better improvement in the headline earnings per share (Heps).

It said its Heps for the period was expected to fall in the range of between 28.13c a share and 30.93c a share as compared to the 14.02c reported in the last corresponding period.

The company will release the interim results on or about May 11.

Read the article here.

Published 9 May 2017 by Carlo Petersen, IOL
Independent Media launched its Group Ombudsman’s Office today, introducing a prestigious panel of former journalists and editors which will form part of the company’s new division.Group executive editor for the Western Cape, Gasant Abarder, introduced staffers and guests to the panel at the Table Bay Hotel at the V&A Waterfront.

Abarder said the ombudsman’s office would use “tough love” to ensure Independent Media’s editors and journalists are kept on their toes.

This sentiment was echoed by Group Ombudsman Jovial Rantao.

 “It doesn’t matter if you’re a celebrated editor or not, tough love is coming your way,” he said.

The Adjudication Panel includes chairperson Rantao, Moleboheng Mosia, Brijilal Ramguthee, Michael Buthelezi, Prof William Gumede, Advocate Nthabiseng Mokoena, Ryland Fisher, Paul Esselaar, Dennis Pather, Rich Mkhondo, Lloyd Mogotsi, Mansoor Jaffer and Ronald Bernickow.

Independent Media Executive Chairman Iqbal Survé thanked Rantao for doing an “excellent job” so far, and wished the panel well for the future.

Watch the launch here:

PRESS RELEASE

Independent Media today launched its internal Office of the Ombudsman along with a fully constituted adjudication and appeals panel in Gauteng, KwaZulu-Natal and Cape Town.

The formal launch of the Office of the Ombudsman follows the adoption of Independent Media’s Press Code, which took place after months of robust engagement and development.

Speaking at the launch, Dr Iqbal Survé, Executive Chairman of Independent Media, said the group remains totally committed to the self-regulation of the media and is vehemently opposed to any state regulation of the media.

“We are completely and utterly opposed to a media tribunal in South Africa.  We will not support the involvement of the state in the media. Our need for freedom is important and this must be cherished. Our withdrawal from the Press Council and the appointed of our internal Press Ombud should not be construed as support for a tribunal. It is unnecessary and undemocratic and goes against our Constitution”, said Dr Survé.

He said that the media can regulate itself provided it has the correct calibre of people which we can be seen from the constitution of Independent Media’s Press Ombud Office and Adjudication and Appeals panels.

The Adjudication Panels will be chaired by Independent Media’s Group Ombudsman Jovial Rantao, who was appointed into this position in October last year.  Rantao is one of the most experienced editors in South Africa. He is the chairperson of The African Editors Forum and the Southern African Editors Forum.  The Appeals Panel will be chaired by retired Constitutional Court Judge, Zak Yacoob, a respected jurist, human rights lawyer and judge recognised all over the world for his legal acumen and experience.

Rantao said the publication of the Code was an important moment in the history of Independent Media, one of the major pillars of media in South Africa. “This is the editorial bible for all our journalists and is our pledge to our readers and the general public, to uphold the highest standards of journalism. We will hold editors and journalists in all our titles accountable on behalf of the public. We will act without fear or favour,” Rantao said.

Independent Media’s Press Code was developed after engagement with the Press Council on various matters and, in particular, the reintroduction of the waiver clause, ended in an impasse. The removal of the waiver by the Press Council had the unintended consequences of involving Independent Media and other media houses in potential excessively costly litigation. The Independent Media Press Code addresses this anomaly.

Rantao highlighted three major differences between Independent Media’s Press Code and that followed by the Press Council:

  • No complaint shall be accepted unless the complainant or the person affected by the publication has waived his or her rights to institute an action or application in any court or any other tribunal.  The waiver shall be unequivocal and in accordance with a prescribed form that the complainant would be required to fill in;
  • any person other than a natural person, a registered non-profit organisation or a Public Benefit Organisation, shall pay a refundable deposit of R5 000 before the complaint will be considered. The deposit will only become payable if no settlement is reached.  If the complaint is upheld substantially, the deposit will be refunded to the complainant; and
  • the complaint will be referred to the regional editor who will attempt to broker a solution or settlement within 14 days. The regional editor will only entertain the complaint if the complainant has submitted full particulars as well as a copy of the offending article; identified reasons for the complaints; identified which rights have been breached and what, if any, harm has been suffered as a consequence of the publication. If there is no settlement, the regional editor would then advise the complainant to approach the Independent Press Ombudsman and outline the procedure to be followed. The Independent Media Press Ombudsman will decide if a ruling can be passed based on the documents submitted by the complainant and the editor or whether a hearing should be held.

 

Following a nationwide public call for participation, Independent Media also announced the members of its Adjudication and Appeals panels.

 

ADJUDICATION PANEL

CHAIRPERSON: JOVIAL RANTAO

REGION MEDIA REPRESENTATIVE PUBLIC REPRESENTATIVE
KZN Brijlall Ramguthee

 

Michael Celumusa Buthelezi

 

GAUTENG Prof. William Gumede Advocate Nthabiseng Mokoena
WESTERN CAPE Ryland Fisher Paul Gregory Esselaar

 

APPEALS PANEL

CHAIRPERSON: JUDGE Z. YACOOB

REGION MEDIA REPRESENTATIVE PUBLIC REPRESENTATIVE
KZN Dennis Pather

 

Fortunate Ngcongo
GAUTENG Rich Mkhondo

 

Lloyd Mogotsi

 

WESTERN CAPE Mansoor Jaffer Ronald Bernickow

Dr Survé encouraged the millions of South Africans who read Independent’s titles to make use of the Office of the Independent Media Press Ombud for resolution of their concerns.

To view the Press Code go to http://www.iol.co.za/press-code

Complaints can also be directed to: complaints@inl.co.za

 

PRESS RELEASE

Independent Media is proud to announce two new editorial appointments as part of its ongoing revitalisation and transformation of its newsrooms.

Veteran journalist Steve Motale, 52, has returned to Independent Media, to take over the editorship of The Sunday Independent. Motale is a former executive editor of the Pretoria News, which is part of the Independent Media stable. Motale left Independent just prior to Sekunjalo’s acquisition of Independent Media was consolidated, as he was headhunted by The Citizen to become its editor. He went on to edit The Citizen for three years.

Executive Chairman of Independent Media, Dr Iqbal Survé said that Motale has come back home to Independent.

“His appointment is aligned with our approach to transformation at senior editorial and executive level and supports our objective of pursuing black excellence in the media space. Mr Motale brings great diversity to our Gauteng publications where our readers can find contested views and opinions in our various titles including The Star, Sunday Independent, Saturday Star, Pretoria News and Isolezwe (Gauteng), as well as African Independent.

We are proud that our group emphasises a diversity of opinions, accuracy in reporting and fairness and has taken a non-partisan approach to political issues in the country. Independent’s titles as a whole are showing an increase in circulation and this can be attributed to readers increasingly trusting our balanced and diversified editorial viewpoints. Mr Motale’s appointment strengthens that diversity in our editorial appointments with our 24 titles and over 10 million daily readers online and in print.

I am pleased to welcome Steve back home.  I have every confidence in his ability to grow Sunday Independent’s niche readership base – both in print and online.  I wish him success with this exciting new challenge.”

Born and bred in the Free State, Motale matriculated in Kroonstad and qualified as a high school teacher, spending 16 years in the classroom before moving to journalism on a local community paper in Klerksdorp. Over and above qualifications in teaching and communication, Motale is a graduate of Wits University’s Management Advancement Programme. He is married with two children.

“It feels like a homecoming,” he said, “I’m very excited about the opportunity. The Sunday Independent is an iconic brand with huge potential and I look forward to taking it to where it belongs.”

Krisendra “Krissy” Bissety, has been promoted to the position of Editor of Post, Independent Media’s niche weekly publication for the Indian community in Kwazulu-Natal.

Bissety is a seasoned journalist who has spent 15 years in various roles at Independent titles, most recently as acting editor of the Post since November 2016.  In this position, Bissety is helping to steer the 62-year-old title into a national publication, circulating in KwaZulu-Natal, Gauteng and the Western Cape.

“I am greatly honoured to be given this opportunity to enhance the Post’s status as South Africa’s number one news brand around the Indian cultural identity. We want to showcase the successes of this community, cover its trials and tribulations, help preserve its heritage and culture and build bridges with other communities,” said Bissety.

He added that he is fully committed to executive chairman Dr Iqbal Survé’s vision, and Independent’s mission, to lead the new media revolution.

“Steve and Krissy are both respected journalists who work with integrity and flair.  I have no doubt that their contribution to the quality of their publications will enhance the experience of both its readers and advertisers. I wish them and their respective teams every success,” said Dr Survé. 

Published 08 May 2017, by IOL

 Independent Media is proud to announce two new editorial appointments as part of its ongoing revitalisation and transformation of its newsrooms.

Veteran journalist Steve Motale, 52, has returned to Independent Media, to take over the editorship of The Sunday Independent. Motale is a former executive editor of the Pretoria News, which is part of the Independent Media stable. Motale left Independent just prior to Sekunjalo’s acquisition of Independent Media was consolidated, as he was headhunted by The Citizen to become its editor. He went on to edit The Citizen for three years.

Executive Chairman of Independent Media, Dr Iqbal Survé said that Motale has come back home to Independent.

“His appointment is aligned with our approach to transformation at senior editorial and executive level and supports our objective of pursuing black excellence in the media space. Mr Motale brings great diversity to our Gauteng publications where our readers can find contested views and opinions in our various titles including The Star, Sunday Independent, Saturday Star, Pretoria News and Isolezwe (Gauteng), as well as African Independent.

We are proud that our group emphasises a diversity of opinions, accuracy in reporting and fairness and has taken a non-partisan approach to political issues in the country. Independent’s titles as a whole are showing an increase in circulation and this can be attributed to readers increasingly trusting our balanced and diversified editorial viewpoints. Mr Motale’s appointment strengthens that diversity in our editorial appointments with our 24 titles and over 10 million daily readers online and in print.

I am pleased to welcome Steve back home.  I have every confidence in his ability to grow Sunday Independent’s niche readership base – both in print and online.  I wish him success with this exciting new challenge.”

Born and bred in the Free State, Motale matriculated in Kroonstad and qualified as a high school teacher, spending 16 years in the classroom before moving to journalism on a local community paper in Klerksdorp. Over and above qualifications in teaching and communication, Motale is a graduate of Wits University’s Management Advancement Programme. He is married with two children.

“It feels like a homecoming,” he said, “I’m very excited about the opportunity. The Sunday Independent is an iconic brand with huge potential and I look forward to taking it to where it belongs.”

Read the full article here.

 

Published 5 May 2017, by Sandile Mchunu, Business Report

Black-owned and managed fishing company Premier Food and Fishing (PFF) delivered a solid growth in earnings for the six months to end February.The company reported headline earnings per share rose 33 percent to 12.70 cents a share, from 9.52c a share from the same period last year, while revenue increased by 7 percent to R182 million. The group attributed the growth mainly to increased sales volumes in the lobster and squid segments.

PFF chief executive Samir Saban said: “Premier Fishing achieved solid performance and positive growth for the six months to end February as per our expectations.”

The group’s operating profit also increased by 12 percent to R18 million, from R16 million. PFF also holds medium to long-term fishing rights in west coast rock lobster, south coast rock lobster, small pelagics, hake deep sea trawl, hake long-line swordfish and tuna as well as squid. The group owns an abalone farm and invests in organic agriculture through the “Seagro” range of products.

“The group experienced increased lobster landings due to good catch rates as well as a good size mix for the period under review.

“The industrial fish landings were up by 20 percent compared to the prior period, while hake sales volumes and the profitability of the hake segment increased during the current period, ” PFF said.

PFF is a member of diversified listed entity African Equity Empowerment Investments (AEEI) and operates a vertically integrated fishing business specialising in the harvesting, processing and marketing of fish and fish-related products, as well as general food products.

PFF was listed on the main board of the JSE at the beginning of March and the group raised capital in the amount of R526 million on the listing date through the issue of 117 million new shares.

During the listing Saban said that the capital raised would be used for the expansion of the company’s abalone farm as well as for acquisitions of other fishing companies.

PFF shares remained flat on the JSE  and closed at R4.60.

Read the full article here.

Published 03 May 2017 by Andrea Chotia, IOL 

As the World Economic Forum on Africa (WEFA ) 2017 starts on Wednesday, the founder and executive chairman of the Sekunjalo Group, Dr Iqbal Survé, provided insight by explaining what it means for Africa and how, if taken advantage of, it could greatly benefit the continent.

Taking place in the port city of Durban until Friday, how to achieve inclusive growth in Africa will be thrashed out by 1 000 global leaders in business, government and civil society. They will deliberate on and agree to priorities that will help Africa achieve this.

Survé declared that the WEFA 2017, will be what one makes of it.

“Sekunjalo is a member of the WEFA, so it’s important for our company to engage with business leaders, government officials, public sector organisations and civil society groupings that principally operate in Africa, as we are invested in at least 40 countries on the continent,” said Survé.

Sekunjalo is deeply rooted across various economic sectors including telecoms, resources, media, technology, manufacturing, food processing, healthcare pharmaceuticals, civil security, network solutions businesses, financial investments, fishing, mining, reclamation, aquaculture and many more.

“It’s a great opportunity to engage with partners, to enter into new businesses and hear first-hand from the private sector and government officials their strategy for economic growth, diversity and development,” said Survé.

Survé’s involvement in the World Economic Forum (WEF) includes being part of the forum member advisers and in Davos this year, being appointed to the stewardship board of the WEF’s Shaping the Future of Information and Entertainment initiative.

He is also the former chairman of the WEF Global Growth Companies advisory board (GGC) and vice-chairman of the Global Agenda Council for Emerging Multinationals.

His international role was further deepened by his most recent appointment as chairman of the Brics Business Council, SA Chapter.

Having participated for almost 10 years on many panel discussions at the WEF meetings including Davos, Summer Davos and Africa, Survé maintained that the forum was useful to Sekunjalo in a number of ways.

Firstly, for identifying investment opportunities for the Sekunjalo Group and being able to promote its strategy for Africa, to engage, collaborate and continue to work with existing multinational partners. (Sekunjalo is the shareholder partner to multinationals such as Siemens AG, Nokia, Saab AB, BT, Coriant and others in their African subsidiaries.)

“Secondly, being represented at the WEF is about being an ambassador for my country, to showcase it, to invite people to invest in South Africa and our continent, and to find value-creation partnerships that could help both our businesses and other businesses that want to operate on the continent in the most sustainable way,” he said.

Thirdly, Survé (who is also a qualified medical doctor) will participate on a number of panels to discuss science, technology, engineering and mathematics (STEM) research and responsible leadership.

He added that the WEFA is also about identifying young talent on the continent, particularly in the areas of the Young Global Leaders (YGLs) and tech pioneers. “It’s a great opportunity to identify young talent, to recruit and support the young talent in our various businesses.”

Survé explained that the WEFA companies, which Sekunjalo forms part of, along with the tech pioneers, social entrepreneurs and YGLs, make a positive impact on humanity through their research, development and initiatives.

With direct relevance to WEFA, Sekunjalo, as an investment holding company, roughly employing 115 000 people across its 200 sizeable investments on the continent, will continue to fly the flag for investment into Africa, said Survé.

He explained the importance of getting the decision-makers on the continent together in one place.

“If the various economic sectors with the highest growth in Africa are clearly identified at the WEFA, then investment entities and partners would be able to capitalise on those opportunities.

“It provides an opportunity to hear from governments on the continent about what their macro-economic strategies are and how we can help and partner with them to achieve their economic-growth objectives.”

Read the full article here.