User talk:Lovelay25

Sekunjalo Investments

Sekunjalo Investments (parent company of African Equity Empowerment Investments) is a South Africa-based private equity firm, wholly owned by the Survé Family Trust. Sekunjalo's principal operations are in media and publishing, ICT, food and fishing, healthcare and pharmaceuticals, telecommunication, financial services and asset management, aquaculture, biotechnology, enterprise development, events, and tourism through media and entertainment company, espAfrika . The company was founded by Dr Iqbal Survé in 1996 with the aim of investing in, and assisting black-owned businesses to enter the mainstream economy of South Africa.

Business model

Sekunjalo Investments model is to only invest in black-owned companies where it can gain a controlling interest in the company's management and strategic decisions. A stated key operating philosophy of the company is the "upliftment of previously marginalised groups by creating employment, emphasising development and transferring of skills."[1]

African Equity Empowerment Investments

In April 2015, Sekunjalo Investments Limited (SIL) was renamed, African Equity Empowerment Investments (AEEI) to avoid confusion with its mother company, Sekunjalo Holdings. Holdings became a privately held company whilst AEEI took Sekunjalo's publicly traded status on the Johannesburg Stock Exchange trading under the ticker AEE. Sekunjalo Investments kept its 55% stake in Independent News and Media SA but all other investments were spun-off into AEEI so as to "better reflect the underlying businesses and investments of the Group going forward and to differentiate from the private holding company."[2] Founder Iqbal Survé stepped down from managing all investments held by AEEI so as to focus on the company's media holdings.[3]

Investments

List of Media publications • Sekunjalo Independent Media Consortium o Independent News and Media SA (55% ownership)[8]  Independent Online (South Africa)[9]  The Star (South Africa)  Saturday Star  Daily Voice (South African newspaper)  Cape Times  Cape Argus  Weekend Argus  Business Report  Sunday Independent  Pretoria News  Weekend Pretoria News  The Post  Sunday Tribune (South Africa)  The Mercury  Daily News  Diamond Fields Advertiser  Isolezwe  African News Agency African Equity Empowerment Investments List of Health related investments • Genius Biotherapeutics (Pty) Ltd: pharmaceutical research and production • Ribotech: pharmaceuticals (cancer drugs) • Sekpharma: vitamin supplements and other pharmaceutical products • Wynberg Pharmaceuticals List of Technology and Telecoms related investments • Emergent Energy: renewable energy solutions • Saratoga Software: software development • Health System Technologies: an ICT systems services provider • Digital Matter: software development • World Wide Creative: digital marketing • Afrozaar: software development List of Marine related investments • Premier Fishing: fishing • Marine Growers (Atlantic Abalone): aquaculture - focus on abalone cultivation List of Strategic Investments AEEI has strategic investments in the following companies in South Africa: • British Telecomms South Africa: a South African subsidiary of BT Group • SAAB South Africa: a South African subsidiary of SAAB Group • Pioneer Foods: processed foods List of Strategic Investments AEEI has strategic investments in the following companies in South Africa: • espAfrika: events management • Enterprise Development: tourism services

Media

Sekunjalo Marine Services Consortium tender

In 2012, Democratic Alliance (DA) Member of Parliament, and competing company for the tender, Smit Amandla Marine, lodged a complaint with the Public Prosecutor’s office (Thuli Madonsela), pertaining to the improper awarding of an R800m tender for fisheries patrol services to Sekunjalo Marine Service Consortium (SMSC). The tender was awarded to Sekunjalo by the Department of Agriculture, Forestry and Fisheries (DAFF) Minister, Tina Joemat-Pettersson, who was also under investigation by the Prosecutors ‘office. It is alleged that Sekunjalo submitted four tenders for the same bid, which the company does not deny. Disciplinary action was taken by the Prosecutor for the Minister’s reckless awarding of a tender, which jeopardised the integrity of her department. The tender had to be re-advertised. Sekunjalo was cleared of any charges of fraudulent management of the tender, and the matter was taken to the Competitions Commission by the Prosecutor, which Sekunjalo raised no objections to. The media reported extensively of the “tender collusion” which put a lot of strain on the Sekunjalo Group, who then threatened to sue the media for defamation. In the end, an emergency tender was given to Nautic SA and Damen Shipyards to handle the operation of the vessels.

Accusations of undue interference at the Cape Times

On 6 December 2013, the Cape Times led with a front-page article on the Public Protector's report highlighting irregularities in the awarding of the Sekunjalo Marine Services Consortium tender. On the 5th of December 2013, the night before, former president and struggle hero of South Africa Nelson Mandela passed away. Every newspaper in South Africa, and major international newspaper titles like, the New York Times, Washington Post, dedicated their front pages to celebrate the life of the world humanitarian, except the Cape Times. On that same day, the newspaper's editor, Alide Dasnois, editor of the Cape Times then, was dismissed from her post by Dr Iqbal Survé, executive chairman of Independent Media South Africa, which was declared a "conflict of interest", and a disrespect to Mandela's honour.

Since August 2013, Sekunjalo Independent Media Consortium has held 55% of Cape Town-based Independent Media with the remaining ownership made up of Chinese and Public Investment Corporation of South Africa (a South African government owned company).[4] Two Chinese State Owned Enterprises (China International Television Corporation and the China Africa Development Fund) invested R400 million in the deal to acquire 20% of the Newspaper. The Public Investment Corporation of South Africa invested R500 million to acquire a 25% share.[5] The Cape Times is one of the titles in the Independent stable.[6] In September 2014 Dasnois filed papers in the South African Labour Court for unfair dismissal and for breech of contract.[7]

take to WP:AFC Aloneinthewild (talk) 00:10, 25 March 2016 (UTC)