Nicolette Dirk
Sekunjalo Investments Limited has officially changed its name to African Equity Empowerment Investments Limited (AEEI).
The announcement was made at the Shimmy Beach Club at the V&A Waterfront yesterday.
The name change is to better reflect the group’s businesses and investments and to separate it from the private holding. While the private holding is still the majority shareholder, AEEI operates independently with investments in marine, technology, health and biotherapeutics, as well as enterprise development.
AEEI group chief executive Khalid Abdulla said they may have undergone a change of name, but AEEI would continue to uphold the values, philosophy and value-add set by growing the organisation and the stakeholder and shareholder value.
Abdulla said it was also important for AEEI to be viewed as a separate entity – in the past, the market would often bundle it with the rest of the Sekunjalo group.
“As a leading BBBEE success story, AEEI is at the forefront of transformation and is one of the largest listed BEE companies in the country,” he said. “The focus and commitment of this business remains growing our businesses on a sustainable basis and empowering people for the long term to benefit the economy as a whole.”
Abdulla expressed confidence that the business would grow even further under the current executive leadership team. “AEEI has a team of people who are hungry to rise to any challenge set for them. The board of directors, together with the executives who lead the various subsidiary units, are determined reach these goals,” he said.
Non-executive chairman Professor Vukile Mehana said the name change marked a historic day for the 18-year-old company. “The change has already had a positive influence on our organisation.
“Under the leadership of the group CEO Khalid Abdulla, there is a fresh level of energy, perspective and future focus which most certainly will be leading to growth and more business opportunities. The operating word for AEEI is, therefore, empowerment for all stakeholders,” said Mehana.