Back

Sekunjalo Investments

Sekunjalo Investments
Company typePrivate
IndustryDiversified investments
GenrePrivate Equity
FoundedMay 1996[1]
FounderIqbal Survé
HeadquartersSouth Africa,
Cape Town
,
South Africa
SubsidiariesAfrican Equity Empowerment Investments
Websitesekunjalo.com
African Equity Empowerment Investments
Company typePublic (until April 2024); Private (April 2024 - present)
JSE: AEEI (delisted)
IndustryDiversified investments
GenrePrivate Equity
FoundedApril 2015
HeadquartersSouth Africa,
Cape Town
,
South Africa
ParentSekunjalo Investments
SubsidiariesBioclones (Pty) Ltd, Genius Biotherapeutics, Ribotech, espAfrika, Cape Town International Jazz Festival
Websitewww.aeei.co.za

Sekunjalo Investment Holdings (parent company of African Equity Empowerment Investments) is a South Africa-based private equity firm specializing in acquisitions, PIPEs, and buyouts. It has principal operations in publishing, Internet, fishing, healthcare, pharmaceuticals, telecommunication, financial services, aquaculture, biotechnology, enterprise development, events management, travel. The company was founded by Iqbal Survé and three others in 1996 with the aim of investing and assisting black-owned businesses.[2]

In April 2015 all of Sekunjalo's investments except its 55% ownership in Independent Media SA was spun-off into a new company, still owned by Sekunjalo Investments, known as African Equity Empowerment Investments (AEEI).[3]

The company is currently facing allegations of corruption and misappropriation of funds from the state-controlled Public Investment Corporation which manages assets on behalf of the Government Employees Pension Fund, leading major banks to cut ties.[4][5][6][7][8]

In January 2024, the Johannesburg Stock Exchange (JSE) announced that AEEI, as well as its sister company and former subsidiary AYO Technology Solutions, faced possible suspension from the JSE for failing to submit annual financial statements within the stipulated 4-month period.[9][10][11][12]

In February 2024, AEEI shareholders voted to delist from the JSE. The termination of being listed on the JSE was effective on 16 April 2024.[13][14]

  1. ^ "Sekunjalo Investments Ltd". Business Week. Archived from the original on 17 December 2013. Retrieved 17 December 2013.
  2. ^ "Dr. Iqbal Surve at Sekunjalo Investment Group (A) ^ 407019". HBR Store. Retrieved 14 July 2024.
  3. ^ "African Equity Empowerment Investments Limited | AEEI". African Equity Empowerment Investments. Retrieved 3 August 2022.
  4. ^ Rensburg, Dewald van. "amaBhungane | Strike 3: Is Iqbal Survé finally unbankable?". Fin24. Retrieved 10 January 2024.
  5. ^ Ryan, Ciaran (20 December 2023). "It's been a bad week for Sekunjalo in the courts". Moneyweb. Retrieved 10 January 2024.
  6. ^ Davis, Rebecca (29 March 2023). "Inside existential woes at Iqbal Survé's Independent Media empire". Daily Maverick. Retrieved 10 January 2024.
  7. ^ Cohen, Tim (9 November 2023). "In blow to PIC, Iqbal Survé's Independent Media retrenches a third of its staff". Daily Maverick. Retrieved 10 January 2024.
  8. ^ Cite error: The named reference :0 was invoked but never defined (see the help page).
  9. ^ "Tricky start to 2024 for Ayo and Iqbal Survé - TechCentral". 3 January 2024. Retrieved 8 January 2024.
  10. ^ Stoddard, Ed (3 January 2024). "Survé-linked AEEI and AYO listings face JSE suspension". Daily Maverick. Retrieved 8 January 2024.
  11. ^ "Iqbal Survé's Ayo and AEEI face possible suspension from the JSE". BusinessLIVE. Retrieved 8 January 2024.
  12. ^ Moyo, Admire (3 January 2024). "Ayo Technology faces suspension from JSE". ITWeb. Retrieved 8 January 2024.
  13. ^ Ltd, Sharenet (Pty) (29 February 2024). "AEE - AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Results Of The General Meeting - 29/02/2024". SHARENET - Your Key To Investing on The JSE Securities Exchange - South Africa. Retrieved 14 July 2024.
  14. ^ "MSN". www.msn.com. Retrieved 14 July 2024.

Developed by StudentB