Published 23 December 2019, 1:59 pm by Business Report

CAPE TOWN – JSE-listed African Equity Empowerment Investments Limited (AEEI), a diversified investment and empowerment company, today announced another set of exceptional financial results with a record increase in revenue, headline earnings and asset base for the year.

The Group’s financial results confirm the delivery of excellent revenue and profit growth resulting from strong contributions from all its underlying investments, with a combination of organic and acquisitive growth.

AEEI’s strategy to consistently increase its operations and portfolio is evident by the exceptional growth in Group revenue which increased significantly by 243% from R701 million to R2.4 billion.

Group headline earnings increased by 276% from R119 million to R448 million, with HEPS increasing from 24.24 cents to 91.16 cents. Net Asset Value (NAV) for the Group grew by 12% from R5.6 billion to R6.3 billion, while net cash generated from operating activities increased by 9% year-on-year from R131 million to R143 million, all of which is in line with the Group’s strategy.

Please read the full article here.

On the Rise

Cape Town, 20 December 2019 – JSE-Listed AYO Technology Solutions Limited (AYO), today announced its preliminary condensed consolidated financial results for the year ended 31 August 2019. AYO’s audit partners, BDO South Africa Incorporated, issued an unmodified reviewed opinion on the results. Despite the operating and economic challenges of 2019, AYO delivered a strong financial performance, posting significant increases in revenue and profit before tax, among other positives.

Commenting on the Group’s performance, Chief Executive Officer, Howard Plaatjes said: “These positive results are a testament to the tenacity and professionalism of our teams, as well as the excellent products and services the group companies continue to deliver to a wide range of local and international clients.”


  • Revenue increased by 207% to R1.9 billion from R639 million in the prior year
  • Profit before tax increased by 47% to R288 million from R196 million in the prior year
  • Total assets increased by 11% to R5.2 billion from R4.7 billion in the prior year
  • Earnings per share increased by 15% to 54.29 cents per share from 47.20 cents per share in the prior year
  • Headline earnings per share increased by 11% to 53.53 cents per share from 48.32 cents per share in the prior year.

Please read the full statement December 2019 press release final

Published 12 November 2019, by Sizwe Dlamini

CAPE TOWN – Sekunjalo Independent Media (SIM) on Tuesday received an application for its liquidation from the Public Investment Corporation (PIC) citing SIM and its executive chairperson Dr Iqbal Survé as respondents.

SIM spokesperson Takudzwa Hove, when reached for comment, pointed out that, among the many errors in the supporting affidavit, the PIC and its advisors cited the incorrect parties to the relevant legal agreements.

“This action is not only incompetent and mala fide but malicious, on the part of the PIC and its advisors.

“SIM is of the firm belief this action is designed as a further attempt to embarrass and undermine the Sekunjalo Group and Dr Survé personally and is aimed at provoking a run on SIM’s major subsidiary, Independent Media, which is fully operational. This is part of a series of co-ordinated attacks on Independent Media, and ultimately, an attack on media freedom,” said Hove.

He said the PIC and its advisors had elected not to disclose in their court papers, SIM’s letter of September 30, addressed to its attorneys by SIM, wherein it is explained that SIM was not indebted to the PIC for any sum.

Please read full article here.

Published, 7 November 2019 Business Report

Cape Town – Sekunjalo Investment Holdings (Sekunjalo) has hit back at the search and seizure raid conducted by the Financial Sector Conduct Authority (FSCA) at its offices on 9 October.

The application requests the court to order the FSCA to return its seized documentation, unopened and declare the raid unconstitutional.

Sekunjalo said that in February 2019, Sekunjalo requested the FSCA to investigate share trades in three Johannesburg Stock Exchange (JSE) listed companies within the Sekunjalo Group – AEEI, Premier Fishing & Brands and AYO Technology Solutions Ltd. It requested the FSCA to launch an urgent investigation and in particular, focus its attention on certain trades that had been conducted over the preceding six  months.

Sekunjalo says that it believed the transactions were aimed at lowering the share prices to profit from shorting the shares in AEEI, Premier Fishing s and Brands and AYO.

Please read full article here.

Media Release

Dr Iqbal Survé receives International Friendship Award

Cape Town, 30 October 2019 –  Businessman and chairman of Sekunjalo Investment Holdings (The Sekunjalo Group), Dr Iqbal Survé, today received the prestigious International Friendship Award at a ceremony held at the IESE Business School in Madrid, Spain.

The award, presented by Her Majesty, Queen Letizia of Spain, was given in recognition of Dr Surve’s efforts to foster Africa and world relations, focusing on the promotion of entrepreneurship, communications, social commitment and his efforts to end prejudice.

Now in its 3rd year, the International Friendship Award is given to individuals from countries around the world who have made an outstanding contribution to the development of their own country, and the rest of the world.  Previously, the award focused on rewarding individuals who worked to strengthen relations between China and Europe, recognising those who worked towards fostering co-operation, peace and development between east and west.

Please read the full media release here. International Friendship Award


16 October 2019

‘Sekunjalo’ threatens PIC with multi-billion damages claim over lies told in Parliament

Several articles have appeared in the press this morning regarding how the Public Investment Corporation (PIC) intends to liquidate Sekunjalo Investment Holdings (Sekunjalo) to recoup a loan it allegedly gave to us.

We need to reiterate and reinforce our statement of yesterday, 15 October, that the PIC has never loaned any monies to Sekunjalo Investment Holdings (SIH) and the Sekunjalo Group, and SIH and the Sekunjalo Group have never asked for any such loan.

Sekunjalo Investment Holdings is a large and well-established investment holding group with a range of listed and unlisted business entities that encompass several thousand employees. The Group generates billions of Rands in turnover through its various businesses  and  its  diverse  investment portfolio. Sekunjalo has zero debt – to anyone – not to banks and certainly not to the PIC. It is a cash positive business with strong dividend flows, able to invest hundreds of millions of Rands and has therefore, no requirement to raise loans.

Please read the full media statement here.Sekunjalo threatens PIC 161019


Sekunjalo rejects that it owes the PIC any monies

Sekunjalo Investment Holdings and The Sekunjalo Group reject with contempt, the suggestion by acting executive head of Legal Counsel, Governance and Compliance, Ms Lindiwe Dlamini, that it owes the Public Investment Corporation (PIC) any monies whatsoever. Sekunjalo has zero exposure to the PIC. This has been communicated to the PIC’s attorney in the past.

Ms Dlamini’s statement to the Parliamentary Standing Committee on Finance today, inferring that Sekunjalo owes monies to do with an August 2013 loan, is utter rubbish. To the contrary, Sekunjalo has invested into companies in which, the PIC is a shareholder, and has in fact, loaned those companies money to assist in their operation and growth.

Ms Dlamini is well aware of the fact that the special purpose vehicle (SPV), Sekunjalo Independent Media (SIM), that was created for the purpose of securing Independent Media, is an entirely different juristic entity. Miss Dlamini has deliberately, and willingly misinformed Parliament and we demand she immediately retracts her statement and convey the truth. In fact, the Sekunjalo Group is a creditor, like the PIC, when it comes to SIM.

Please read the full media statement here. Sekunjalo Rejects Liquidation Claims by PIC Statement

Published 15 October 2019, by Sizwe Dlamini

CAPE TOWN – The Sekunjalo Group has demanded that the acting executive head of Legal Counsel, Governance and Compliance at the Public Investment Corporation Lindiwe Dlamini immediately retract her statement to Parliament on Tuesday that the company owes the PIC money.

“Sekunjalo has zero exposure to the PIC. This has been communicated to the PIC’s attorney in the past,” Sekunjalo chairperson Dr Iqbal Survé said in statement.

He said Dlamini had deliberately and willingly misinformed Parliament.

“Ms Dlamini’s statement to the Parliamentary Standing Committee on Finance today, inferring that Sekunjalo owes monies to do with an August 2013 loan, is utter rubbish. To the contrary, Sekunjalo has invested into companies in which, the PIC is a shareholder, and has in fact, loaned those companies money to assist in their operation and growth,” Dr Survé said.

“We demand she immediately retract her statement and convey the truth. In fact, the Sekunjalo Group is a creditor, like the PIC, when it comes to SIM.

Please read full article here.


10 OCTOBER 2019

Sekunjalo Group to approach the High Court to set aside the FSCA search and seizure application

Sekunjalo Investment Holdings (the Sekunjalo Group) has consulted legal counsel and has now perused the Financial Sector Conduct Authority’s (FSCA) application that resulted in the raid on our offices and that of African Equity Empowerment Investments (AEEI) yesterday, Wednesday 9 October 2019.

We are of the considered opinion that the FSCA’s application is entirely without merit and that Judge Gamble was misled by the FSCA. His decision to grant this application was based, as it was, on a gross misrepresentation of the facts and the vital omission of material information. We have accordingly instructed our legal counsel to proceed to the High Court to set the FSCA application aside.

We have instructed our legal counsel to proceed with haste with an extensive damage claim against the FSCA, its acting commissioner as well as the investigators that participated in the irregular raid on our offices. The claim will be made jointly and severally against the FSCA and the above participants.

Please read the full media statement here. Media Statement

Published 9 September 2019, by Dr Iqbal Survé

In the preamble to the 2019 World Economic Forum on Africa, it’s noted that at least 20 African countries will undergo elections this year. This is an important milestone in Africa’s evolution and one that can bring about significant progress, especially with Africa finding itself on the cusp of the Fourth Industrial Revolution,
where change and progression will be inevitable. How fast and how meaningful this progress will be depends on a number of factors, not least of all voting forward-thinking governments into power across the continent – governments that can grasp the possibilities of digital and how it can advance their countries and Africa as a whole.

It is not a government’s role to create jobs, but it is necessary to have the right political will to construct the frameworks that are necessary for growth across the board – whether environmental or economic. In today’s digital world, it’s also increasingly important for governments to collaborate with each other, particularly in
light of developments in cross-border payments and the like. Of equal standing is the need for the public and private sectors to work together in producing the solutions needed.

The recently signed African Continental Free Trade Agreement is a case in point. While it took nearly two decades to structure and sign, the Agreement has finally put Africans in charge of their own development and – while there is still a technical minefield to navigate, as Africa faces problems of instability – the will is there to promote an exchange between the 54 countries that comprise the continent.

Please read full article here.