Cape Town - JSE-listed company Sekunjalo on Thursday announced the official change of its company name and brand to African Equity Empowerment Investments Limited (AEEI).
“The rationale and reason for the name change is to better reflect the underlying businesses and investments of the Group and to differentiate from the private holding company,” said Group chief executive Khalid Abdulla.
AEEI showcased its new look to stakeholders, shareholders, and the media.
“After 18 successful years, we are today making history and reaching yet another milestone for the company,” said AEEI Chairman Vukile Mehana.
“A-E-E-I… I am going to have to get used to that,” joked Salim Young, AEEI Non-Executive Director.
“I am excited about the new name and the new look. It’s an injection of new energy.”
AEEI holds investments in marine, technology, health and biotherapeutics and enterprise development, with stakes in British Telecommunications South Africa, SAAB SA and the Pioneer Food Group Limited.
The company said the rebranding exercise had seen AEEI take on a bold, African look, underscored by its operating word, “empowerment”.
“We are seen to be an African player, with lots of interest from the international markets. That is why we needed to emphasise and be more explicit in the use of the African continent in our logo,” said Abdulla.
He said despite the changes, AEEI would hold on to the values of the Group.
“AEEI will continue to uphold the values, philosophy, and value add set by the Group as well as by growing the organisation and the stakeholder and shareholder value,” he added.
Abdulla said the name better reflected the ethos of the black economic empowerment company and its business objectives.
“Before profit, we are committed to building the nation and creating jobs,” he said.
The change would provide AEEI with the ability to further develop its own identity and clarify that it operated independently of its mother holding company.
“When you read about Sekunjalo (AEEI), there is no difference between us, our major shareholder, and the consortium that bought Independent,” said Mehana.
Mehana said the name and brand change was already having positive effects on the organisation.
“There is a fresh level of energy, perspective, and future focus which most certainly will be lead to growth and more business opportunities.”
ANA