Fri. Apr 12th, 2024

In a recent interview, Dr Iqbal Survé, Chairman of Sekunjalo Investment Holdings, delved into the influential journey of Sekunjalo, a pioneering black company currently listed on the Johannesburg Stock Exchange (JSE) and an early member of the World Economic Forum (WEF). Despite its impactful legacy, Sekunjalo is presently grappling with an array of challenges, leading to a bold pursuit of justice and reparation.

Dr Survé highlighted Sekunjalo’s expansive global presence, with investments spanning 40 countries, emphasizing its pioneering role in fostering economic inclusivity post-apartheid. However, a significant shift occurred after President Ramaphosa took office, with Dr Survé alleging intentional obstruction of Sekunjalo’s operations through state entities and institutions.

Entities, including Intelligence Services, the Financial Service Conduct Authority, and Treasury, are prominently featured in Sekunjalo’s legal papers, illustrating the depth of alleged interference. Dr Survé pointed to the Mpati Commission’s establishment as an example of a targeted smear campaign, contending it was weaponized to tarnish Sekunjalo’s reputation.

Drawing a disconcerting parallel to a “mafia state,” Dr Survé asserted that state power suppresses dissenting voices and impedes legitimate business operations, underscoring the need to hold the president, ministers, and the government accountable.

Sekunjalo’s legal pursuit, initiated through a notice under Section 3, seeks accountability for perceived orchestrated actions causing losses. The damages sought extend beyond financial compensation, symbolizing a commitment to rectify what Sekunjalo sees as a breach of accountability in South Africa’s political landscape. Simultaneously, Sekunjalo announced legal action against President Cyril Ramaphosa and state organs, seeking approximately R75 billion in damages.

The group alleges unwarranted victimization and portrays this legal move as a last resort after enduring systematic persecution. The catalyst for this action lies in perceived unjust government actions, including the Mpati Commission’s shift in focus to Sekunjalo-associated companies.

Distressing consequences include a “Hollywood-style” raid by the Financial Sector Conduct Authority (FSCA) on Sekunjalo’s offices, seen as an attempt to tarnish their public image rather than a genuine investigation. Collateral damage encompasses financial implications, job losses, and the loss of clients due to the alleged plan to discredit the company.

Sekunjalo’s legal actions spotlight concerns about potential abuse of power, lack of transparency, and the need for accountability within the government. The company seeks not only financial compensation but a broader commitment to fairness, accountability, and the protection of business rights in the country.

As the legal battles unfold, Dr Survé portrays Sekunjalo as grappling with challenges imposed by state actions, aspiring to foster transparency and accountability within South Africa’s political landscape. The outcomes of these lawsuits may significantly impact corporate-state relations in the country.

The views expressed do not necessarily reflect those of Newsosafrica or Independent Media.

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