Latest News & Developments
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South African billionaire Dr Iqbal Survé built an empire by challenging the status quo
In an era where economic landscapes are rapidly shifting, his trajectory offers insight into how capital, influence, and strategy intersect. Dr. Survé’s legacy is not one of passive inclusion but of deliberate recalibration.
Dr. Iqbal Survé: Lessons from South Africa’s Billionaire Entrepreneur Who Built an Empire Against the Odds
Discover how Dr. Iqbal Survé's visionary leadership is reshaping South Africa's economic future as we transition into 2025.
Daily Maverick’s Moodley peddling lies to undermine Survé’s share buy-back
In my article, I was discussing the buy-back of Premier Fishing & Brands and African Equity Empowerment Investments (AEEI) and at no point did I refer to AYO. Moodley, for some nefarious reason, misrepresented my article.
South African billionaire Dr Iqbal Survé spends R700m of own funds on strategic buy-back
The strategic buy-back by Survé, who owns Independent Media, South Africa’s largest newspaper business, is set to send shockwaves through the nation’s economic landscape
AEEI shareholders vote in favour of delisting
With more than two-decades of being listed on the JSE, the firm which listed on May 3, 1999 and is a majority black-owned and black-controlled investment holding company, has finally called it a day.
AEEI reports strong revenue growth in tough operating environment
Diversified investment group African equity Empowerment Investments’ (AEEI) revenue increased by 21% to R2. 8 billion in the year to August 31 mainly due to revenue improvement in the IT division and a robust 20% revenue increase from its fishing division.
AEEI revenues boosted by better squid fishing
The fishing and brands division reported a solid performance, with revenue up 19% to R566m, primarily due to an increase in the squid catch rates and volumes sold in the squid sector, compared to prior year.
AEEI proposed de-listing: A dark day for BBBEE empowerment
On Monday AEEI said its decision was prompted by the recent unbundling of the group's investment in AYO and the proposed sale of a 30% stake in British Telecom SA by Kilomix, an AEEI wholly owned subsidiary, for R290 million
AEEI’s shares leap on plans to delist from the JSE
AEEI said in a statement yesterday its decision followed the recent unbundling of the Group’s investment in Ayo Technology Solutions Limited (AYO) and the proposed disposal by Kilomix, a wholly owned subsidiary of AEEI, of its 30% shareholding in British Telecom South Africa (BTSA) for R290 million.
AEEI reaches agreement on long-standing dispute with BT Communications Services SA
AEEI’s board said they had not yet decided on how the sale proceeds would be utilised.
Setting the record straight
OPINION: Ms Crotty’s agent provocateur-like musings should be seen as the meanderings of a mind bent on destroying value in one of South Africa’s first successful black-owned business ventures, and should be treated with the disdain they deserve.
Investment group AEEI unbundles AYO Technology Solutions stake
AEEI’s portfolio includes fishing and brands, technology, events and tourism, health and beauty, biotherapeutics and strategic investments.
Black Business Chamber calls on British Telecoms to embrace BEE
AEEI is a South African majority black-owned and black-controlled investment holding company, while BT is a British multinational telecommunications holding company headquartered in London
AEEI reports growth in revenue
In its interim results for the six months ended February 28, 2023, the group reported that revenue from continuing operations totalled R344 million from R28m in the prior period.
AEEI makes firm offer to buy out minority shareholders in Premier Fishing and Brands subsidiary
The offer is a substantial premium to the share price of 99 cents on Friday.
AEEI forced to impair investments in weak global environment
Weakening global economic environment and resulting disruptions impacted the operations of the group
Businessman Dr Iqbal Survé denies having anything to do with increasing the valuation of AYO, as company fined millions by JSE
Businessman Dr Iqbal Survé has responded to reports that he was involved in company decisions at AYO and AEEI that led to fines imposed by the JSE.
JSE censures and fines two directors for governance failures in AYO’s 2018 interims
The companies declined to comment on the matter yesterday.
Premier Fishing says AEEI on brink of bid to buy remaining stake
Investment firm said to be on the brink of making a firm offer to acquire the remaining shares it doesn’t own.
AYO calls on regulators to investigate the manipulation of its share price
AYO called on the JSE and the FSCA to urgently investigate what appeared to be deliberate manipulation of its share price after it took a dramatic dip following a suspicious transaction, with an unidentified seller.
Mpati Commission report a ’grave injustice’ to Sekunjalo
Leading the headlines at almost every turn, the name of Sekunjalo, inter-changed with AYO. Yet ‘Sekunjalo’ was never included in the Commission’s self-declared terms of reference, so how did the Mpati Commission and subsequent media reporting, end up being dominated by discussions around this Group, and its executive chairman, Dr Iqbal Survé, and the Commission reporting on ‘findings’ against Sekunjalo?
Dr Iqbal Survé lambasts banks, the establishment for undermining black-owned firm, over 40 000 livelihoods
No Sekunjalo company had ever been involved in corruption or money laundering. ‘This is acknowledged by the banks but they keep claiming reputational risk, meanwhile they themselves have been implicated. ’
AEEI halves final dividend after a tough 2021 financial year
African Equity Empowerment Investments (AEEI) halved its final dividend to 10 cents a share in the year to August 31, 2021, even though it held a strong balance sheet with R2. 3 billion in cash.
AEEI scoops award in sustainability data transparency index
African Equity Empowerment Investments (AEEI) said yesterday it was awarded first place place in the Financial Services: Other section of the Sustainability Data Transparency Index (STDI) for environmental, social and governance (ESG) reporting in South Africa by Integrated Reporting & Assurance Services (IRAS).
AEEI questions BT Communication Services’ call option claim
African Equity Empowerment Investments (AEEI), the diversified majority black-owned investment group, yesterday denied that a call option claimed by investee partner company BT Communications Services South Africa was capable of being exercised.