SA the engine to drive Africa, says China’s Lin

Published 10 November 2017, by ANA

Cape Town – South Africa has the perfect foundation to be the locomotive to drive growth and development on the African continent, says China’s recently appointed ambassador to South Africa, Lin Songtian.

During an interaction with senior editors from Independent Media and executives from the Sekunjalo group, he said: “The potential of Africa is huge. The problem is capacity.” He listed infrastructure and governance issues as areas of concern.

Turning to South Africa, Lin, who took up his position in August, said the country’s foundation was perfect to drive continental growth through industrialisation. “We see South Africa as a manufacturing and production base which will create jobs,” he added.

The ambassador stressed the need to work together to help drive development, the key to overcoming poverty.

Pointing at China’s economic development in recent decades, Lin said the aim was to lift all of that country’s 1.4 billion people out of poverty.

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LIVE: AEEI releases its financial year-end results

Published 07 November 2017, by a staff reporter

CAPE TOWN – African Equity Empowerment Investments Limited has reported strong year-end performance, with 111% increase in operating profit.

Highlights

– Profit before tax increased by 136% from R288m to R681m

– Headline earnings per share increased by 120% from 43.13 cents to 94.89 cents

– Earnings per share increased by 120% from 44.09 cents to 97.10 cents

– Operating profit increased by 111% from R310m to R655m

– Net asset value increased by 100% from R1bn to R2bn- Total assets increased by 65% from R1.7bn to R2.8bn

– Revenue increased by 43% from R736m to R1 052m

– Net cash generated from operating activities increased to R80m

– Final dividend declaration of 5.50 cents per share to shareholders

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Award-winning CEO Khalid Abdulla spills secrets of success

Published 29 October 2017, by Francesca Villette

Running a successful business means you have to be a step ahead of everyone, all the time. You’ll be up against many people – and it won’t be easy.

Running a successful business means making mistakes, but learning from them. Key in the game of success versus defeat is getting education, gaining experience and how to execute for success.

This is the advice of one of the most successful businessmen in the country – group chief executive of African Equity Empowerment Investments Limited (AEEI), and multi-award-winning businessman Khalid Abdulla.

He has been with the AEEI Group since 1999 and has served as the CEO of various subsidiaries, including the information technology businesses, and as Group CFO in 2007 before being appointed Group CEO in November 2009.

Abdulla’s list of awards for this year already include:

– Business Leader of the Year – Southern Africa 2017 award at the 7th All Africa Business Leaders Awards in partnership with CNBC Africa.

– SA’s Future Maker – Driver for Change Award 2017 at the Inaugural Vision 2030 Awards.

– South Africa’s Most Empowered Business Leader of the Year 2017 at The Oliver Empowerment Awards.

– Being recognised as a Most Empowered Company by Empowerdex over the years since its inception.

– Top CEO Africa Award for South Africa – by the CEO Today Africa Awards magazine.

He was a finalist in the 2015 Oliver Empowerment Awards – Top Male Leader of the Year; and has been ranked among the 10 best executives of 2015 by the Financial Mail.

Abdulla was also the recipient of the Black Business Executive Circle (BBEC)/Absa Bank Kaelo Awards in 2010 for leadership, Kaelo meaning “nurturing or mentoring” others.

“Every career has tools for success. If you want to be a professional sportsman, you have to practise to perfect your technique. If you want to go into business you have to have the right tools and education is key.

“You have to get your matric first, and then decide whether you want to go to university or Technicon.

“To be in business today means you’ll be up against a lot of competition; it’s not easy. You have to make sure you are a step ahead of everyone else.”

Abdulla was first exposed to industry by his father, who was an entrepreneur. He grew up in Harfield Village and his dad, Sharfoodin Abdulla, had a corner shop, and a music and movie house.

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