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