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Independent Online (or IOL) is a South African news and information website. Independent News & Media, the largest South African publisher of printed material, owned it. In 2013, Sekunjalo Investments bought the company.

Sekunjalo Independent Media holds 55% of the company. The Public Investment Corporation of South Africa has 25%. Two Chinese State Owned Enterprises, China International Television Corporation (China Africa Development Fund) hold 20% of the newspaper.

The website hosts the online versions of a variety of South African newspapers including The Star and Pretoria News as well as The Daily Voice, Cape Times, Cape Argus and Weekend Argus.

Sekunjalo Investments & IOL

Sekunjalo Investment Holdings is the parent company of African Equity Empowerment Investments. It is a South African private equity firm that specializes in buyouts, PIPEs and acquisitions.

Its principal activities include publishing, Internet, fishing and healthcare. Iqbal Surve founded the company in 1996 to invest and assist Black-owned businesses. All of Sekunjalo’s investments, except the 55% ownership in Independent Media SA, were restructured into a new company called African Equity Empowerment Investments.

Sekunjalo’s investment model seeks above-average returns on their portfolio and to make a scalable social impact, especially on Africa. The Group is committed towards the “upliftment and development of previously marginalized groups through employment creation, development and transfer of skills.”

Sekunjalo Investments Limited was renamed African Equity Empowerment Investments in April 2015. This was to avoid confusion with Sekunjalo Holdings, its mother company. While Holdings was renamed to a privately owned company, AEEI became Sekunjalo’s publicly traded status on Johannesburg Stock Exchange trading under ticker AEE.

Sekunjalo Investments retained its 55% share in Independent News and Media SA, but all other investments were spun off into AEEI to “better represent the underlying businesses and investments for the Group going ahead and to distinguish from the private holding firm.” “[6] Founder Iqbal Surve has resigned from the management of all AEEI investments to concentrate on the company’s media holdings.

Sekunjalo Independent Media Consortium, a private company and segment that is separately controlled, is not directly connected to the publicly traded segment African Equity Empowerment Investments of Sekunjalo Investments.

Sekunjalo owns 55% of Cape Town’s Independent News and Media South Africa. The remaining ownership is held by the Chinese and Public Investment Corporation of South Africa, a South African government-owned company.

The deal to acquire 20% shares of the Newspaper was made possible by two Chinese State Owned Enterprises, China International Television Corporation (China Africa Development Fund) and China International Television Corporation (China International Television Corporation).

To acquire a 25% stake, the Public Investment Corporation of South Africa spent R500 million. In August 2013, Independent News and Media purchased the South African-based media company for EUR150 million (R2 billion).

According to Sekunjalo Independent Media, 55% of the purchase of INMSA by Independent News and Media was funded primarily with a loan from Government Employees Pension Fund (GIF) and Public Investment Corporation (PIC).

In 2018, a significant portion of the investment made by the PIC in Sekunjalo was written off.

Sekunjalo Group

The Sekunjalo Group, an emerging multinational with a base in Africa, is a global office and investment portfolio that has offices in Switzerland, Mauritius and Dubai.

The international portfolio of resources and oil and gas for the Sekunjalo Group is managed by Sekunjalo International Investment Holdings in Switzerland and its subsidiaries.

Sekunjalo International Investment Holding has partnered with private families from Africa to create one of the most successful oil-and gas exploration companies on the African continent.

Sekunjalo International Investment Holdings has monetized its African oil and gas portfolio for over 12 years with the sale its last concession towards the end 2013.

Sekunjalo Investment Holdings is South Africa’s domiciled company that holds the Africa portfolio of the Sekunjalo Group. SIH’s Africa portfolio includes five main areas of investment. These investments can be made in either public (listed) or private companies. These investment groups include:

Groups for Investment

Participation in multi-national subsidiaries that operate on the African continent. This includes subsidiaries of British Telecom (BT), Nokia, Siemens AG, SAAB AB and Coriant.

Private equity portfolio that invests in entrepreneurs on the African continent. Sekunjalo Group funds the private equity portfolio.

Public investments in companies listed on the JSE – Johannesburg Stock Exchange. Some public investments are control investments, while others are portfolio investments.

Private companies in which the Sekunjalo Group holds a controlling stake. This includes investments in media, technology and asset management.

3 Laws Capital, Climate Change Fund, Sygnia Asset Management and Sekunjalo Capital have seen the Group become a prominent financial services and asset management group that is fully self-funded.