An astute giant has fallen

Published, 26 February 2017 by , Independent Media at 05:56pm.

Cape Town – South Africa stands on the shoulders of giants, those brave enough to use whatever means necessary to fight the former apartheid government.

One of those giants was lawyer and later High Court Judge Essa Moosa, who using his astute legal mind stood up in court for struggle activists, aligning himself with those who fought for freedom and those too poor to defend themselves in court.

His passing on Sunday, surrounded by those closest to him, is devastating. Even though he had been ill for some time.

Sekunjalo and Independent Media Executive chairman, Dr Iqbal Survé said on Sunday he was overcome with grief at Judge Moosa’s death.

“During the eighties we knew who to turn to in times of struggle, we knew that if the security police was hunting us, if activists went missing, if people were being held in detention without trial, that our struggle lawyer Essa Moosa would be there. He did not only provide legal counsel, but also gave some of himself to many of us.”

Dr Survé, said: “We do not only salute him for the work he did during the dark days of apartheid, but also for helping usher in a new, just South Africa. When I visited him last week, I thanked him on behalf of all South Africans and for his guidance to so many of us who fought for political and social justice. Our condolences to Judge Moosa’s family, We thank you sharing such a great man with us. Thank you for opening your home and hearts to us for so many decades. ”

Many journalists at Independent Media came across Judge Moosa at some point of their careers. They were exposed to his fairness and astuteness, he was a lawyer that older journalists will remember for his work under apartheid, for many others, as a judge who paved the way for justice in the country.

Independent Media expresses its sadness at Judge Moosa’s passing. He made an incredible impact on journalism and how legal journalism is covered and written about. Echoing Dr Survé, Independent Media says even though a giant has fallen, his passing makes us remember why he sacrificed so much, so that millions could have freedom.

Hamba Kahle struggle lawyer. Your contribution will be remembered by millions.

PREMIER FOODS OVERSUBSCRIBED

Published, 24 February 2017 by Kabelo Khumalo, Business Report at 07:45am.

Johannesburg – Premier Food and Fishing (PFF), a subsidiary of African Empowerment Equity Investments (AEEI) says its much anticipated listing on the local bourse has been oversubscribed.

The company said on Thursday that its initial public offering (IPO) was oversubscribed four times, following a successful two-week road show in anticipation of resuming trading on the JSE next week.

It will list on March 2 under the code PFF.

AEEI chief executive Khalid Abdulla said the company was pleased about the feedback it had received from the market.

“We are excited about the future prospects of listing PFF. The fact that the shares were heavily oversubscribed is a sign of confidence in our fishing business as well as our management team. We wish them well in taking the business to the next level,” Abdulla said.

The company, in existence since 1952, was previously called Sekunjalo Industrial Holdings. It was to privately 117 million shares.

Premier aims to list to gain access to capital to grow its business organically and through future acquisitions. It also wants to give employees and members of communities in which it operates, as well as the general public an opportunity to acquire an equity stake.

The group has said it is well positioned for growth over the next three years and “into the future”. “As one of the largest black fishing companies in South Africa and given that current legislation is likely to promote black participation and black industrial development in this sector, this should be beneficial for the growth in this area.”

The group intends distributing 30 percent of its annual free cash flow to shareholders.

Premier is a vertically integrated food and fishing company which specialises in the harvesting, processing and marketing of fish and fish-related products, as well as general food products. It employs more than 350 permanent and seasonal staff and its business includes factories, processing facilities and fishing vessels operating in three provinces. Its products range from rock lobster to octopus, squid, abalone, pilchards, hake, general food products and environmentally friendly agri-biotechnology products.

Full article found here

ANA raises R1bn foreign stake

Published, 17 February 2017 by ANA Reporter, Independent Media at 07:35am.

Johannesburg – African News Agency (ANA), the continent’s first content syndication service and social media platform for text, pictures, and videos, has raised $80 million (R1.04 billion) from China, the US and the Middle East.

With this investment, ANA has in total raised $165 million since its inception.

In 2015, the entity raised $30 million and, last year, $55 million.

The total placing has resulted in 15 percent of the shareholding now held by international investors, and 85 percent of shares belonging to the Sekunjalo Group.

ANA president Professor Arthur Mutambara said he was delighted at the third tranche of investment.

Confidence

Mutambara said the investment was a sign of confidence, firstly in an African company, but mostly in the technology platforms which led to ANA exceeding its first milestone three months ago of reaching one billion users.

He said he would use the capital to further the technology platforms and to integrate both business-to-business and consumer-to-consumer.

“Technology is the great equaliser. The ANA multimedia technology platform will revolutionise the way Africans communicate among themselves, rebrand the continent, and ignite economic development,” Mutambara said, adding that the capital would also enhance engagement in social media platforms such as Facebook and to ensure it became the global primary provider for the African content by 2020.

ANA is headquartered in South Africa with ownership structures in Mauritius and Switzerland for global expansion. It is also planning to set up commercial media bureaus in New York, London, Shanghai and Dubai, allowing it to continue penetrating global audiences, and furthering its strategy to becoming the go-to source for news, information and data about Africa.

Mutambara said ANA would make an announcement about a platform developed in Africa at the World Economic Forum meeting in Durban in May.

ANA chief executive Grant Fredericks said the agency had achieved its second strategic milestone, enabling technology-driven social media platforms for text, pictures and videos.

“This is an exciting future for ANA and technology in Africa as social media platforms are currently dominated by Facebook and others,” Fredericks said.

Read the full article here

It’s all systems go for Premier’s JSE listing

Published, 17 February 2017 by Joesph Booysen, Business Report at 08:03am

Cape Town – Premier Food and Fishing (PFF) is all set for its listing on the JSE following successful investor roadshows in Johannesburg and Cape Town this week.

The company is set to be listed next month with an estimated 117 million shares, representing 45 percent of PFF’s equity post listing valued at R526.5 million.

Group chief executive Khalid Abdulla said the company controlled 60 percent of the local rock lobster exports to the US and held 12 percent of the total west coast of supplies to the Far East.

He said the company was also home to the third-­largest pilchard allocated quota of 7percent.

“Our products are of very high quality and are highly regarded in America,” he said.

“As AEEI, the major shareholder, we have been very happy with our returns in this the food and fishing business.”

Integrated

Premier Fishing is the vertically integrated food and fishing division of the JSE-listed AEEI – African Equity Empowerment Investments – and is the largest black-owned and controlled fishing company in the South Africa.

It also owns an abalone aquaculture farm in Gansbaai, which Abdulla described as a high-margin, low-risk business with a 70 percent gross profit margin.

He said the farm produced 120 tons of cultured abalone a year and was running at 100 percent capacity.

He said over the past two years the company had invested millions of rand in the alternative energy sector at the farm.

Read also: Premier Foods and Fishing to list in March

Abdulla said the company was set to increase the supply of its much-sought-after abalone product to its overseas client base.

Samier Saban, the chief executive of Premier Fishing, said in an earlier interview this month that the abalone operation employed more than 100 people and, with further expansion, it would increase its workforce.

“The planned expansion, once completed, would also have alternative energy (solar) installed to support the additional energy required and place less pressure on the electricity grid, which would be enough to benefit the community of Gansbaai,” said Saban.

“We also support small-scale subsistence fishermen and run a corporate social investment (CSI) programme to develop communities within which we work.”

Saban said once the expansion was completed, the farm would be able to produce up to 320 tons of abalone over the next three years.

Read the full article here

Sekunjalo launches R500m impact fund

The Sekunjalo Investment Group is launching a R500 million impact fund to boost entrepreneurship, shore up renewable energy initiatives and support women-owned businesses.

Details of the wholly-owned Sekunjalo Impact Fund will be announced by Dr Iqbal Survé, executive chairman of Sekunjalo and Independent Media this afternoon, when he hosts the annual pre-State of the Nation address (Sona) lunch.

The luncheon event is traditionally attended by cabinet ministers, captains of industry, civil society and industry bodies.

International investors will be invited to join the fund, which is immediately seeded with R500m by Sekunjalo, and is projected to grow exponentially, and is expected to reach R2bn within a year of being launched.

Speaking ahead of the lunch event Dr Survé said that the fund will also invite local entities, including state funds like the Small Enterprise Finance Agency (SEFA), to invest. The Sekunjalo Impact Fund is also investigating creating an impact bond, similar to an RSA bond.

“The fund will be run by a management team with social impact funding experience,” Dr Survé said.

The Sekunjalo Investment Group has historically been committed to entrepreneurial and community development which has social impact, and this will be reflected in the areas selected for investment. The following categories of economic activity will be earmarked during the next five years:

● Food and agriculture: Investing in subsistence farming through companies active in this arena;

● Climate Change and health: Climate change impacts poor people the most, the Fund will invest in mitigating climate change using tools like renewable energy.

So too will climate change have an impact on the health of people;

● Women-owned ventures because women often still battle to access funding;

● Black Entrepreneurs and SMME development; and

● Media and education – including films and books that foreground human rights and social inclusion.

Sharing a noble cause

Published, 26 January 2017, by Adri Senekal, Business Report at 08:21am

“Dignity is the right of every person, including prisoners. Today’s prisoner could be tomorrow’s president or scientist or leader. Let’s come together to make the world a better place.” – Dr Iqbal Survé

The Geneva-based International Bridges to Justice (IBJ), one of the most prestigious global NGOs, announced the appointment of Sekunjalo Group chairman Dr Iqbal Survé to its global advisory board in Switzerland last week.

Karen Tse, the chief executive and founder of IBJ, expressed her excitement “to have finally convinced Survé, after eight years of trying, to serve on the global advisory board of IBJ”.

“Dr Survé is an influential African entrepreneur, a global business leader and a recognised philanthropist; he is the most influential business leader in Africa with the vision to shape the future of the African continent,” Tse said.

Survé currently serves as a patron or board member of a number of NGO’s across the globe, and Survé philanthropies through its seven affiliated foundations, which support initiatives in childrens’, women and human rights; climate change; healthcare solutions for the poor; education and science; arts and culture; social entrepreneurship and impact investing.

Tse said she was delighted that after eight years she convinced Survé to share his outstanding leadership skills and philanthropic experience with IBJ.

Read also: Top 8 #WEF2017 issues as SA heads to Davos

“We respect Dr Survé for his medical work with victims of apartheid and provision of medical care to a number of prominent South Africans during and after their release from Robben Island.

 

 

 

Read the full article here

#CTIJF2017 reveals epic line-up

Published, 24 January 2017 by IOL Reporter, Independent Media at 11:35am

EspAfrika, the organiser of the country’s longest running jazz festival, has pulled out all the stops to ensure that the 18th Cape Town International Jazz Festival (CTIJF) exceeds all expectations.

The line-up highlights festival director Billy Domingo’s insights into the current musical renaissance around the world, where collaborations are producing unique sounds that are gaining new audiences.

Jazz fans are likely to make a beeline for these exciting acts announced in the second half of the CTJIF line-up: Saxophonist, producer and composer Kamasi Washington (US) and his release The Epic shook up the jazz critics’ pick lists in 2015 and won the 2016 American Music prize, earning new fans across the world in the process; Grammy-nominated singer Andra Day (US) whose song Rise Up has been adopted as an anthem for change throughout the world; vocalist, pianist, composer and music educator, and two-time Metro Music Award winner Nomfundo Xaluva (SA); and, the multi-award winning saxophonist, composer and arranger Buddy Wells, who will lead his own band in a sensitive yet blistering set as the Buddy Wells Sextet (SA).

For those who favour urban sounds and hip hop there is alternative hip hop trio Digable Planets (USA); dance/electronic music producer Jameszoo (NL); STTA (SA) – a live concept band and City Festival Battle of the Bands 2016 winner, comprising of drummer Jstar, turntablists DJ Raiko and DJ P–Kuttah, three live beat machine samplers, versatile vocalist/ Nasty J aka Joniq; and singer/composer, multi-instrumentalist and producer Tom Misch (UK), who leaves his London bedroom studio to head to Cape Town for the first time in March.

 

Read the full article here

Unit trust firms gun for Raging Bull Awards

Published, 26 January 2017 by Staff Writer, Business Report at 07:59am

The Oscars of the unit trust industry, the Raging Bull Awards, celebrated its 21st anniversary last night, and to mark the occasion there were two special awards made in addition to the 10 coveted awards. The event was hosted by Personal Finance, a publication of Independent Media, in conjunction with partners ProfileData and PlexCrown Fund Ratings.

The special awards were for the firm with the top-performing South African equity general fund over 21 years and top multi-asset equity fund on a risk-­adjusted basis over 21 years.

Dr Iqbal Survé, executive chairman of Independent Media, addressed this year’s event, which was held at the Summer Palace Ballroom in Johannesburg.

More than 300 representatives of leading unit trust firms, boutique managers, financial services regulators and investment industry bodies attend the event. Each year, 10 Raging Bull Awards are awarded.

The most coveted award, for the South African Management Company of the Year, is made on the basis of an average PlexCrown fund rating that measures risk-adjusted returns and consistency of performance across all of a manager’s qualifying funds for periods up to five years.

Last year, Nedgroup Investments was the first management company to scoop the Raging Bull Awards for South African Management Company and for Offshore Management Company.

 

Read the full article here

 

Taking pride in finding solutions

Published 05 January 2017 by Siyabonga Kalipa, Independent Online at 06:45am

The Cape Argus has evolved over its 160-year history, according to Independent Media executive chairman Dr Iqbal Survé, who says the newspaper, which celebrates its birthday this week, is more “solutions-driven” than in the past.

“In many ways, the Argus is the same but not the same. It’s the same in that the news is still great, the content is superb, but it’s more solutions-driven. These days you are reading more and more articles about various things that help people.”

He is looking forward to the Cape Argus fulfilling Independent Media’s vision of being “part of your past, shaping your future”. He said the newspaper, especially its sports pages, helped drive transformation.

“In the past, even though there might have been very outstanding sportsmen and women that were black, they were always hidden away in terms of exposure. So, it is nice to see that kind of change.”

There were also more letters and comments being sent in from townships and on the Cape Flats, he said.

“I love what the editors in Cape Town in general are doing in terms of bringing the newspapers to the communities.”

Read full article here

Gugs race celebrates 16 years

Published 14 December by Staff Writer, Cape Times at 09:27pm

Tomorrow approximately 2 000 enthusiastic runners and athletes will take to the streets for the annual RCS Gugs Reconciliation Race.

The race, which is hosted and sponsored by the Gugulethu Athletics Club, financial services provider, RCS and the Cape Times, has been held for the past 16 years on 
Reconciliation Day, December 16.

Gugulethu is one of the oldest townships in Cape Town and where many black people were forced to live when they were forcibly removed by the apartheid government.

Tomorrow’s race is important for the Cape Times, which this year celebrates its 
140th anniversary, as well as parent company, Independent Media.

Driving social change is integral to Independent Media’s transformation 
strategy.

This event underscores the company’s vision to bring together diverse readership communities and offer platforms where readers can communicate and share, as well as being informed and 
entertained.

 

Read full article here