Latest news with #Sekunjalo
IOL News
18-07-2025
- Business
- IOL News
From Liberation to Ownership: How Sekunjalo is Powering Nelson Mandela's Vision of Inclusive Economic Transformation
Discover how the Sekunjalo Group embodies Nelson Mandela's vision of economic justice in South Africa, challenging the status quo and striving for true transformation. Image: Independent Media In a country where the soul of transformation often gets buried beneath bureaucracy, profit margins, and political stagnation, the Sekunjalo Group stands not merely as a business entity, but as an ideal. A bold, African ideal born of purpose, shaped by sacrifice, and relentlessly driven by the conviction that freedom is incomplete without economic justice. On the eve of Nelson Mandela Day, South Africa finds itself reflecting on the man who led us out of political bondage. Yet, as we commemorate his legacy, one truth becomes impossible to ignore: the promise of economic liberation remains painfully deferred for millions. The townships still choke on poverty. Ownership of wealth remains skewed. And transformation, once the heartbeat of our new democracy, now whispers in the background. It is against this sobering backdrop that the story of Sekunjalo becomes not only relevant, but urgent. Founded in the post-apartheid spring of the late 1990s, Sekunjalo was not conjured in a boardroom with glossy projections. It was born in rooms filled with veterans of the struggle — men and women whose commitment to freedom had left them impoverished, imprisoned, and overlooked by the emerging elite. Their vision was not just to build a company, but to heal a country. To create an economic engine where political freedom had left a vacuum. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading It was President Nelson Mandela himself who nudged this vision into life. In meetings with Professor Jakes Gerwel and other former activists, he insisted that the coloured community of Cape Town, long marginalised under apartheid, must have a stake in the economic future of the city and the country. The name Sekunjalo, meaning 'Now is the Time,' came from one of these very gatherings. It wasn't just a name; it was a call to action. And action, indeed, followed. In 1999, Sekunjalo Investments became one of the few black empowerment companies listed on the Johannesburg Stock Exchange. But unlike many BEE firms that emerged merely to tick boxes, Sekunjalo anchored itself in principles, not patronage. It was not built to serve elites, but to multiply opportunity. It was not created to enrich the few, but to invest in the many. Its core was empowerment, community, and sustainable value creation. Over the decades, the group expanded across multiple sectors — from healthcare to fishing, from media to technology — creating more than 20,000 direct and indirect jobs. It incubated black CEOs, funded education, and supported local businesses across the continent. It remained fiercely independent, even as competitors and institutions attempted to undermine or erase its impact. And it continued to be one of the very few large African investment groups that had not been swallowed by white capital or global conglomerates. Yet, Sekunjalo has paid dearly for this independence. Its media investments, including the acquisition of Independent Media, marked a turning point. Suddenly, the company was no longer just a player in business but a challenger to narrative control. A black-owned media house that dared to tell African stories with dignity, that questioned the status quo, that exposed what others chose to conceal. It became a target. Banking institutions began closing accounts. Smear campaigns intensified. Accusations — often without trial — became weapons to cripple its growth. But Sekunjalo did not fold. As Chairman Dr. Iqbal Survé once remarked, 'We have never been anti-establishment. We are against injustice, especially when it wears the mask of respectability.' Today, the relevance of Sekunjalo's journey transcends corporate boardrooms. It forces us to ask hard questions about where our country is heading. Why are black-owned companies still treated as suspects? Why are transformation champions punished while the architects of economic apartheid remain celebrated captains of industry? Why is it that, thirty years after democracy, institutions still recoil when real power is transferred into black hands? Nelson Mandela knew that freedom without ownership is a broken promise. He knew that healing a nation required more than reconciliation — it required redistribution, responsibility, and resolve. Sekunjalo's founding was not just endorsed by Mandela; it was aligned with his vision. The group exists not simply to succeed, but to model what ethical African capitalism can look like. It does not separate profit from purpose, nor scale from soul. In many ways, the Sekunjalo Group is the economic echo of Mandela's moral imagination — daring to be principled in a system that rewards corruption, daring to empower when others extract, and daring to be black, bold, and unapologetically African in a marketplace that still fears its own transformation. This Mandela Day, the call is not to light a candle or donate an hour. The call is to recommit to the deeper project he left behind, the building of a just and inclusive economy. Sekunjalo's story reminds us that this project is not theory. It is practice. It is possible. South Africa needs structures of integrity. It doesn't need performative empowerment. It needs brave institutions willing to absorb the cost of real change. Sekunjalo is not perfect, no movement born of struggle is, but it remains a powerful symbol of what is possible when business becomes a tool for nation-building, not just accumulation. 'Now is the time,' they said in 1997. In 2025, the time has not passed. It has only grown more urgent.
IOL News
28-05-2025
- Business
- IOL News
'SA Youth Must be Supported to Grow in the Content & Gig Economy'
Chairman of Sekunjalo and Independent Media Dr Iqbal Survé, delivers a keynote address during The Future of Jobs Summit, T20 South Africa 2025 at the DP World Wanderers Stadium. Image: Itumeleng English / Independent Newspapers Dr Iqbal Survé delivered a compelling blueprint for youth employment at the Future of Jobs Summit, emphasising digital transformation as a pathway out of poverty. Dr Iqbal Survé, Chairman of Sekunjalo Group, delivered a passionate keynote address at the Future of Jobs Summit 2025, presenting a comprehensive vision for leveraging South Africa's digital potential to combat youth unemployment. Speaking to government officials and industry leaders, Dr Survé outlined how the content economy and technology sector could become lifelines for millions of unemployed young South Africans. With youth unemployment reaching a staggering 62.4% for those aged 15-24, Dr Survé painted a bleak picture of the crisis facing the nation. 'This isn't merely a statistic; it represents over 4.8 million young South Africans waking up daily without economic dignity or hope,' he emphasised, drawing from the latest Statistics South Africa report. However, rather than dwelling on challenges, the business leader presented an optimistic roadmap centred on digital transformation. He highlighted the success story of Thato Joseph Mashifane from Dennilton, Limpopo, who transformed unemployment into entrepreneurship through his viral TikTok character 'Sis Maria'. 'Armed with just a smartphone, an old broom, a second-hand laptop, and an unshakeable passion for storytelling, Sis Maria launched a 'solopreneur' journey that took him out of unemployment queues,' Dr Survé noted. 'If one young South African can transform his future through media and technology, imagine what millions could achieve.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The Sekunjalo chairman, whose group employs over 8,000 people with 50% being black African youth under 35, demonstrated his commitment goes beyond rhetoric. The company is already nurturing young entrepreneurs at the secondary school level through initiatives like iAccelerate SA, a high school startup accelerator led by Deputy Chair Rayhaan Survé. Dr Survé's seven-point strategy focuses heavily on the creator economy, worth $104 billion globally. He proposed establishing 'Digital Content Creation Hubs' in townships and rural areas, equipped with professional equipment and training in video production, podcasting, and graphic design. 'We need a 'Township TikTok Academy' approach that could empower thousands to earn from global audiences,' he explained, emphasising South Africa's rich cultural heritage as a competitive advantage in the global digital marketplace. The technology apprenticeship programmes he outlined align with Microsoft South Africa's recent R5.4 billion investment commitment, which aims to train 50,000 people in AI, data science, and cybersecurity. Dr Survé sees this as a model for combining infrastructure investment with skills development. Addressing the gig economy, he noted that South African youth are already participating in global freelance platforms. 'Our youth are already teaching English online to students in China and working remotely on global platforms. We see them in McDonald's and Starbucks, intensely focused on laptops, doing business, and earning an income from anywhere in the world.' His vision extends to the gaming industry, where he sees untapped potential in South Africa's cultural narratives. 'Our cultural richness—from traditional stories to contemporary urban experiences—offers unique content that global audiences crave,' he said, referencing the $200 billion global gaming market.
IOL News
23-05-2025
- Business
- IOL News
Sekunjalo moves to take AYO private, citing growth prospects
Sekunjalo said it believes taking AYO private represents a strategic step that will unlock significant value and better position the company for sustained growth. Image: Independent Media File Sekunjalo Investment Holdings has made a firm offer to acquire all remaining shares in AYO Technology Solutions Limited, the country's largest black-owned and managed ICT investment group, signalling its confidence in the company's long-term value. Sekunjalo, which already holds a 45% majority stake in AYO, announced on Thursday it has also proposed a voluntary delisting of the firm from the Johannesburg Stock Exchange (JSE). The offer would allow shareholders to either exit with liquidity or remain invested in a private structure poised for future expansion. I n a statement, Sekunjalo said it believes taking AYO private represents a strategic step that will unlock significant value and better position the company for sustained growth. 'Delisting AYO will enable the company to focus on execution and transformation, rather than the administrative burdens and volatility associated with public markets,' the group said. 'We remain committed to supporting inclusive economic empowerment and using technology as a lever for growth across the continent.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Sekunjalo highlighted its track record with other companies it has taken private, including Premier Fishing and Brands and African Equity Empowerment Investments (AEEI), noting that both had flourished outside the constraints of the public markets. The group cited several reasons for pursuing a delisting, including the high costs of maintaining a JSE listing, regulatory restrictions on agile decision-making, and what it termed the persistent misrepresentation of AYO's history in the public domain. These factors, it said, have hampered the company's ability to contribute meaningfully to South Africa's digital economy and capital markets transformation. Sekunjalo's association with AYO dates back more than two decades, through early investments made via Sekunjalo Healthcare and later HST.
IOL News
23-05-2025
- Business
- IOL News
AYO Technology shares surge 20% following Sekunjalo Investment Holdings' acquisition offer
Shares in technology group AYO Technology Solutions Limited (AYO) leapt 20% after Sekunjalo Investment Holdings (Sekunjalo) on Friday confirmed that it has made a firm offer to acquire all remaining ordinary shares in South Africa's largest black-owned and managed ICT investment group not already held by it or its related parties. Sekunjalo currently holds a 45% majority shareholding in AYO. Sekunjalo has also submitted a proposal for the voluntary delisting of AYO from the JSE. "Sekunjalo will acquire the Offer Shares, being a maximum of 155 331 790 shares, in respect of which valid acceptances are received prior to the closing date of the Offer, for a total maximum Offer Consideration of R80 772 531," AYO said. It said the Offer will be subject to the condition that the proposed delisting, pursuant to the voluntary delisting provisions of the Listings Requirements, is approved by at least 75% of shareholders present or represented by proxy at the General Meeting and the JSE. Sekunjalo said in a statement, "We hope shareholders will remain on this journey with us, but we also recognise that some may prefer to exit. This offer allows for both – providing liquidity to those who wish to sell and stability for those who believe in the future of AYO. "Sekunjalo firmly believes that transitioning AYO into a private company is a strategic and positive step that will unlock significant value and better position the company for long-term growth." The shares in AYO by midday Friday on the JSE surged 8 cents to 48 cents. Sekunjalo also said that it has a proven track record of investing in and supporting companies post-delisting, including Premier Fishing and Brands and African Equity Empowerment Investments. It said these, and others, have flourished outside the constraints of public markets."The same opportunity now exists for AYO," it added. The decision to propose delisting is underpinned by several factors, including the high cost of maintaining a listing, the limitations imposed by regulatory requirements on agile decision-making, and the persistent misrepresentation of AYO's history in the public domain, which has hampered its ability to grow and contribute meaningfully to South Africa's digital economy and capital markets transformation, Sekunjalo said. Sekunjalo has been a long-term investor in AYO for more than two decades, dating back to its original investments through Sekunjalo Healthcare and later HST. The Group remains deeply committed to technology as a lever for inclusive economic empowerment and continental growth. AYO, which maintains a diversified technology investment portfolio with strong underlying subsidiaries, stands to benefit from the ability to pursue its strategy without the volatility and distractions of public listing status. Sekunjalo strongly believes that AYO's executive leadership, who have already stabilised operations and streamlined cost centres, will be better placed to drive innovation and expansion in a private structure. Sekunjalo said, "Delisting will allow the company to focus its energy on execution and transformation, rather than compliance and litigation. This is about putting AYO and its subsidiaries in a position to thrive - here at home and across the continent." AYO said, in accordance with the requirements of the takeover regulations, it has constituted an independent board comprising Rosemary Mosia, Sello Rasethaba, and Adv Ngoako Ramathlodi (Independent Board) for purposes of evaluating the terms and conditions of the offer. BUSINESS REPORT
IOL News
23-05-2025
- Business
- IOL News
Cyril missed an opportunity to deal with youth unemployment
Chairman of Sekunjalo and Independent Media Dr Iqbal Survé, delivers a keynote address during The Future of Jobs Summit, T20 South Africa 2025 at the DP World Wanderers Stadium. Image: Itumeleng English/ Independent Newspapers President Cyril Ramaphosa's Wednesday meeting with US President Donald Trump at the White House has drawn criticism for not adequately addressing the pressing issue of youth unemployment in South Africa, which affects a staggering 65% of young people. Dr Iqbal Survé, Chairman of Sekunjalo Investment Holdings and Independent Media, holds the view that Ramaphosa missed a crucial chance to address the country's serious problem of youth unemployment. He was delivering a speech at the 2025 Future of Jobs Summit held at the DP World Wanderers in Melrose North, Johannesburg on Thursday, where he spoke about how South Africa can create job opportunities for the youth and a thriving economy. 'If I was the President of South Africa, I would have sat in the Oval Office room last night (Wednesday) and I would have said 'President Trump we have 65% unemployment amongst the youth. Can you help the youth of South Africa to be able to help themselves as part of a technological programme, etcetera, etcetera',' he said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Ramaphosa's visit to the US was prompted by concerns raised by Trump about alleged violence targeting white South African farmers. Trump had granted refugee status to 49 Afrikaner farmers, escalating tensions between the two nations. Survé said while he agrees that the country needs to prioritise supporting farmers to ensure food security, it also needs to focus on tackling youth unemployment as a top priority. 'We can't have two-thirds of our youth having no hope, no future, no pathway to a career, no pathway to income and living in desperation. That is not acceptable, no matter what we say,' he said. He stressed that business leadership and public service leaders should do everything possible to prioritise youth employment. 'We have no choice otherwise we are going to live in our ivory towers, behind high walls, fearful of our lives,' he said. According to him, youth employment issues require more than just annual discussions; they demand concrete actions and sustainable solutions. 'This must be top of the agenda. It must be the President's priority to be able to say to the nation '65% is too much (and) within a decade we are going to get that down to 20% and this is how we are going to do it',' Survé said. He shot down the notion of South Africa's primary issue being a skills deficit, suggesting instead that the problem lies in the inability to create opportunities for young people. 'We have the skills set. What we need to do is to create opportunity for young people to participate in these programmes, both technological and otherwise,' he said He stressed the need for platforms that accommodate diverse skill sets, enabling individuals without tertiary qualifications to leverage their skills and earn a living. Survé noted that there were countless success stories of individuals thriving in the digital economy, where people leverage tech and media to earn a living.
