Solid earnings for Premier Food & Fishing

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.

#WEF a great opportunity to enter into new businesses – Survé

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.

 

Important to think globally, says Khalid Abdulla of AEEI

Published 28 April 2017, by Joseph Booysen, Business Report 

South African businesses and business leaders can learn a lot by attending the World Economic Forum, taking what they need out of the global perspectives on offer, applying approaches and principles learned from world business leaders to their own business, with a firm eye on maximising the business volumes of the future so as to avoid business extinction.

This is according to Khalid Abdulla, group chief executive of African Equity Empowerment Investment (AEEI) ahead of his attendance at the global forum next week.

Abdulla said it was important to think globally about how current and future business was planned for and approached – Africa would soon have 2 billion people living on the continent and the world 9billion people in the not-too-distant future.

“We need to listen to what other countries and businesses are experiencing, assimilate the different perspectives and then apply the appropriate practices and innovations to our own,” Abdulla said, adding that it would be important for businesses to develop the right team and to implement solid corporate governance to extract the most value.

“So, you can attend all the conferences in the world, but if you don’t apply and implement what you learn, it is just going to be another certificate on the wall.”

He said despite all the negative news in the country at the moment, including the recent ratings downgrade, there was still much to be positive about as South Africa had achieved amazing things.

“We must celebrate these while working on the challenges,” he said.

Abdulla encouraged other companies to continue sharing these and other positive stories in order to keep hope alive for the country’s citizens, while current challenges were being addressed, in order to build the nation on a sustainable basis.

“There is an opportunity in everything. As a business leader one has to see things in context while at the same time we have to think out of the box. This current state too shall pass, and we as business need to look to the future and ask ourselves if we will be ready for when that time comes.”

Read the full article here.

 

Blind child rights hero receives ‘Children’s Nobel Prize’

 

 Published 27 April 2017 by IOL reporter
Manuel Rodrigues, a blind child rights activist from Guinea-Bissau, on Wednesday received the child rights award, The World’s Children’s Prize (WCP), often called the ‘Children’s Nobel Prize’.

This is the result of the Global Vote, by millions of children around the world.

Manuel Rodrigues from Guinea-Bissau, bottom right, was selected by children around the world to receive child rights award the World’s Children’s Prize for the Rights of the Child. Molly Melching is second from the left, and Rosi Gollmann is fourth from the left. Behind them are members of the Child Jury.

Manuel was honoured in recognition of his work for children with disabilities, who face being kept hidden or abandoned to die.

In Guinea-Bissau, it is hard for children with disabilities to go to school. Many have been kept hidden away, or abandoned to die. Through Manuel’s work, however, both attitudes and legislation are changing rapidly, so that children with different abilities can grow up in safety, attend school, and have a good life.

Manuel was one of the three nominees for the award, nominated by a child jury whose members are experts on the rights of the child, through their own life experiences as refugees, slaves and soldiers, amongst others.

Since the launch in 2000, a total of 40.6 million children have participated in the World’s Children’s Prize programme, the world’s largest annual educational initiative for children on rights and democracy.

Two other child rights activists, 90-year-old Rosi Gollmann, from Germany, and Molly Melching, from the USA and Senegal, were also honoured on Wednesday.

Gollman’s work includes rescuing tens of thousands of girls in India from being killed at birth, and Melching has led pioneering initiatives to tackle female genital cutting and child marriage in West Africa.

Both received the World’s Children’s Honorary Award.

All three nominees for the award were honoured at a ceremony today at Gripsholm Castle, in Mariefred, Sweden, where children from 15 countries were assisted by H.M. Queen Silvia of Sweden in presenting the prizes. The prize money, totalling SEK 700,000, is split between this year’s child rights hero (SEK 350 000) and the two honorary award laureates (SEK 175 000 each) and is to go towards the prize laureates’ work with children.

Abatsha, a young band from Cape Town, South Africa, played at the WCP Ceremony. Five of the band members are pupils at Chris Hani Secondary School in Khayelitsha, where the World’s Children’s Prize programme is implemented annually, and where the band members and other pupils are trained as WCP Child Rights Ambassadors.

Previous prize laureates include the children’s Decade Child Rights Heroes Graça Machel and Nelson Mandela, Ann Skelton, Hector Pieterson and Nkosi Johnson (the latter two, posthumously).

Read the full article here.

‘South Africa will weather the storm’

Published 13 April 2017 by Business Report.  

Small Business Development Minister Lindiwe Zulu said South Africa will weather problems associated with the recent credit rating downgrade to junk status.Speaking at a business forum between South Africa and Qatar in Pretoria on Wednesday, Zulu moved to allay investor jitters over the downgrades, charging that the government was ready to deal with concerns raised by investors and rating agencies.

“It is not the first time that we are finding ourselves in this,” Zulu said.

Minister of Small Business Development Lindiwe Zulu, Qatar Minister of Economy and Trade HE Sheik Ahmed bin Jassim bin Mohammed Al-Thani, Dr Iqbal Survé, Sekunjalo chairperson, and South African Ambassador to Qatar, Shirish Soni, at the RSA-State of Qatar Business Forum in Pretoria. Photo: Simphiwe Mbokazi

“The government has taken upon ourselves as government, the private sector and our communities to work together to weather the storms. It is going to be a very difficult period for us. We shall weather the storm working together.”

Ratings agencies S&P’s Global Ratings and Fitch Ratings last week downgraded the country’s credit rating to sub-investment grade. The South African Reserve Bank earlier this week said the downgrades could put pressure on the rand and accelerate inflation.

Zulu’s assurances came as President Jacob Zuma hosted the Emir of the State of Qatar, Sheikh Tamim Bin Hamad Al-Thani, who was on a state visit to South Africa which was, among others, aimed at deepening economic relations between the two countries.

In a statement on Tuesday, the Presidency said that the total trade between South Africa and Qatar had increased from R4 billion in 2012 to R7 billion last year.

One of South Africa’s largest investments in the Middle East is Sasol’s joint venture gas-to-liquid facility located in Qatar.

Commitment

“[The] two heads of state have agreed to advance our relations to a strategic level in demonstration of our commitment towards strengthening our economic relations.

“In as much as fostering partnership among business communities is important, it is equally imperative that we emerge from these engagements with a structured programme of co-operation,” said Zulu.

Numerous opportunities of co-operation existed between South Africa and Qatar in agro-processing, financial services, mineral beneficiation, petrochemicals, aerospace and defence, infrastructure development and tourism.

She said South Africa’s focus on radical economic transformation opened up opportunities to all South Africans, with focus on black South Africans.

“In line with South Africa’s commitment to radical economic transformation, we must ensure adequate participation of black entrepreneurs.

“The bottom line is that and there is no compromise land was taken away from the majority of our people.

“That has to change if we are to make sure there is peace, security and stability in South Africa.

“This should not scare any of our investors. Your investment in South Africa will always be safe, because in South Africa we have very strong institutions, whether its institutions of governance or financial institutions. We make sure that anybody who comes to South Africa with their investment is protected,” she said. South Africa had prioritised the creation of black industrialists and the integration of small- and medium-sized enterprises, she said.

“The black industrialists are the people that you would need to have more engagement with.”

She said there were numerous investment opportunities in South Africa and the rest of the continent.

“The continent is on the move, with a whole lot of construction happening.

Al-Thani said South Africa could use Qatar’s location and logistics infrastructure to export to the Middle East, Asia and Europe. He said Qatar could also be a gateway for South African products to the Gulf Co-operation Council Common Market and the Greater Arab Free Trade Area.

 

Read the full article here.

All faiths unite at Cape Passover celebration

Published 7 April 2017, by Bronwyn Davids, Cape Argus

Cape Town – The SA Jewish Board of Deputies (Cape) on Thursday night celebrated the Passover Seder, a “celebration of human rights overcoming human wrongs” – with fellow South Africans and African refugees of all faiths.Held at the Jewish Museum, among the guests were Western Cape Premier Helen Zille, executive chairperson of Sekunjalo Dr Iqbal Survé, Muslim and Christian clerics, and Judge Dennis Davis, who was the MC.

Usually, a 2 000-year-old family and community celebration rich in religious symbolism of the Hebrews’ exodus from captivity in ancient Egypt, SAJBD deputy director Gwynne Robins said: “We decided to share our tradition with others because there are lots of things we say in the Seder that is relevant to us today.

“We say all who are hungry come and eat, there’s so much hunger, famine in Somalia, there are people in Khayelitsha who go to bed hungry, we must remember a time of hunger in our history.

“We talk of being refugees; there are lots of refugees in South Africa and all over the world, from North Africa. There are so many problems. The point of the Haggadah book, which means ‘telling’, is that you shall tell your children what the Lord God did for us on that day of fleeing from Egypt. Education is important, part of this Seder,” said Robins.

Read the full article here.

 

Sekunjalo Edujazz Big Band kicks off #CTIJF

Published 01 April 2017, by IOL Mojo.

The Sekunjalo Edujazz Big Band were the opening act for the 18th installment of the Cape Town International Jazz Festival, which officially kicked off at the Cape Town International Convention Centre on Friday evening.

For the next two days the Convention Centre will play host to famous as well as up-and-coming musical acts and also a number of exhibitions linked to the event.

Jazz lovers from across South Africa, and in fact the world, gather annually for the festival which is a showcase for some of the best local and international music acts.
Earlier this week, Capetonians were entertained by top acts at the annual free concert held at Greenmarket Square. The concert is considered the opening event of the musical showcase which draws thousands of people to the Mother City every year.
Read more here.

Sekunjalo happy to invest in Jazz festival

Published 31 March by Staff Reporter
For the past decade, the Sekunjalo Group, via its subsidiary African Equity Empowerment Limited, has been invested in the Cape Town International Jazz Festival because of its impact on the economy, and to support black excellence.Sekunjalo Group executive chairman Dr Iqbal Survé said the company invested in the Jazz Festival when espAfrika was faced with shutting down the popular event because the North Sea Jazz Festival (the forbearer to the festival) had pulled its funding.

The Jazz Festival is often referred to as Africa’s grandest gathering, so Survé said that the Sekunjalo Group could not see such an important Cape Town event being scrapped.

The bands of between five and seven members each were all part of the music and career programme which forms a vital part of the run up to the Cape Town International Jazz Festival.

“Billy [Domingo] and Rashied [Lombard] approached us for funding and we agreed based on their ability to put together a show of an international calibre,” Survé said.

“The festival is a social enterprise, it is a business, but its impact is significant.

“The festival creates 300 direct jobs and between 2 500 to 3 000 jobs during the festival. It also brings in R600 million to the gross domestic product.

“It provides huge opportunities for small businesses, including those in catering, engineering, sound, security and cleaning.

Survé is passionate about development and said the music development week preceding the Cape Town Jazz Festival is a showcase of South African talent.

The festival has been a springboard onto the international stage for South African artists, and it also deepens the cultural links between South Africa and countries like Brazil, China and Cuba.

“One of the most important wins in the investment is that the festival is about black excellence, from the planning to the execution of the festival,” Survé said.

Read the full article here.

Indian magnate Iqbal Surve appointed head of South Africa’s BRICS Business Council

Published 31 March 2017 by PTI, The Economic Times.

Iindian-magnate-iqbal-surve-appointed-head-of-south-africas-brics-business-councilndian-origin South African billionaire Iqbal Surve has been appointed as chairperson of the country’s BRICS Business Council and has underlined the need for strengthening trade ties with countries like India and China.

Straight after his appointment by the South African government, Surve, headed to New Delhi for the mid-term meeting of the Brics Councils from other countries in the bloc – Brazil, Russia, India, China and South Africa.

He highlighted importance to strengthen ties with China and India.

“In the age of Trump protectionism and Brexit, we have to strengthen our ties with business in the East, especially China and India, whose economies are expected to be number one and number three in the world by 2030, with a GDP of USD 35 trillion and USD 16 trillion respectively,” Surve said.

“This opens up many opportunities, not only for South Africa but for the continent,” Surve said, adding that it was of utmost importance that Africans benefit from the new BRICS Development Bank.

“It is an interesting development that China is flying the flag for globalisation at a time when US President Donald Trump is taking a more protectionist stance,” Surve was quoted as saying by the daily Business Report.
Surve, the chairperson of Sekunjalo Group and Independent Media, has interests in media, technology and healthcare.

The chief executive of the South African Public Investment Corporation, Daniel Matjila, lauded Surve’s appointment.

Surve said he sees his new role as one of being an enabler to ensure that Brics benefits the most marginalised South Africans and Africans, especially in the areas of financial services and sustainable development financing.

Surve said the Business Councils had a huge role to play in economic development.

“We want them to build dams, roads, power stations and railway lines in Africa. It is noteworthy that all five countries (in BRICS) have different ideals, economic policies and politics, yet we know that for economic growth we have to work together to ensure our people benefit economically.

“Included in the benefits must be skilling and reskilling in preparation for the fourth industrial revolution, where biological, physical and digital worlds merge,” Surve concluded.

Read full article here

 

AEEI boss named top empowered business leader

Published 31 March 2017 by Business Report, Kabeo Khumalo

Cape Town – African Equity Empowerment Investments (AEEI) group chief executive Khalid Abdulla was on Thursday named as the top empowered business leader of the year at the 16th Oliver Empowerment Awards held in Johannesburg.Abdulla said he was humbled by the award and credited AEEI’s board and his management team for continuing to implement the group’s 2020 strategic vision for growth and transformation.

“Since its inception, AEEI undertook to focus on growing the business and to provide the platform for empowerment of others, especially the empowerment of those disadvantaged individuals who are driven to succeed with us,” he said.

AEEI chief executive Khalid Abdulla was named as the top empowered business leader of the year at the 16th Oliver Empowerment Awards. Picture: Independent Media

AEEI, which was formerly called Sekunjalo Investments, invests in the fishing, information technology, financial services, food and healthcare industries. The Oliver Empowerment Awards are the country’s foremost awards recognising leadership and innovation in empowerment.

The awards are rigorously assessed and independently assured and provide recognition for companies that are integrating empowering business practice and delivering positive impacts in the marketplace, in the workplace and in the communities they operate.

Abdulla said the group’s success was due to its highly skilled empowerment management team, which put the company on the front foot for future growth.

“We are deeply honoured to have been recognised for our efforts with these awards, testament to our commitment to broad-based black economic empowerment, enterprise development and delivering strong financial performance with a holistic and sustainable business model,” Abdulla said.

The group has been on a spending spree in the past few years, particularly making significant acquisitions in the information technology space.

In 2015, it increased its stake in security and defence specialist company Saab Grintek Defence to 25percent – the deal was valued at R120million.

Aside from the Saab investment, the company has secured equity partnership with consumer brands group Pioneer Foods and fund management group Sygnia, for which it paid R10m.

The group last year acquired a 57percent stake in Midrand-based information technology company Puleng Technologies for an undisclosed amount. The award bestowed on Abdulla is one of the numerous given to the company in the course of last year.

In July last year, the Financial Mail announced AEEI as the top performer on the JSE, after it had demonstrated continued and consistent financial growth.

This followed recognition by Empowerdex on October 6, 2016, in its annual benchmark of JSE-listed companies as the Most Empowered Company under the amended codes as well as the Most Empowered Management Control.

Abdulla said that the work done in implanting the group’s 2020 vision and growing up in a racially divided South Africa had steered him and the company in the right direction.

“Where we have come from and what we experienced in years gone by has given me a different perspective on life and business.

“I see that echoed in many of my co-workers. What sets AEEI apart, and I believe has made us this solid and successful entity, is how we identify opportunities and our approach in taking these prospects forward to fruition.”

Full article here.