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.