Cape Town, 6 July 2023 – Achieving both financial success and making a positive social impact in South Africa has become a crucial goal for numerous organisations. However, the path to realising these dual objectives is not without its challenges. The Sekunjalo Group, under the chairmanship of Dr Iqbal Survé, embodies the philosophy of “Do good and Do well” as they navigate the complex landscape of South Africa’s economy.
The South African economy has faced multiple disruptive forces, including the slow global economic growth, the fact that South Africa has been grey-listed, the effects of climate change, geopolitical unrest, corruption, and inefficiencies in state-owned businesses. These barriers have the potential to create endless problems for our country, particularly in 2023, which is predicted to be an extremely challenging year.
Survé believes in the possibility of doing good and doing well simultaneously. Rooted in his upbringing, where the philosophy was instilled in the family by his mother, Mrs. Hawa Bibi Ali, it goes without saying that he applies this very philosophy in his business.
“At the core of Sekunjalo’s investment philosophy lies a strong commitment to shared value creation,” states Survé. The Group understands that long-term success relies on aligning interests with partners and stakeholders who share their values, and believe in the transformative power of business, with a special focus on supporting Black business.
While financial returns are vital, Sekunjalo goes beyond mere profitability. Survé emphasises the importance of leveraging investments to generate scalable social impact, particularly in Africa. Through its philanthropic arm, Survé Philanthropies, the Group invests in ventures that address critical social, economic, and environmental challenges, aiming to make a tangible difference in people’s lives. In the over two decades of the Group’s existence, Survé Philanthropies has contributed in excess of R1,2bn towards various social impact initiatives.
However, Sekunjalo faces significant challenges in the Group’s pursuit of economic freedom. Driven by allegations of political influence, the Group contends that their operations have been deliberately targeted to hinder their growth and economic contributions.
Access to banking and payment services is already being restricted by these external forces, resulting in damaged reputations, and hindering effective operations.
Nevertheless, Survé and the Sekunjalo Group remain resolute in their commitment to overcome these challenges. They actively engage stakeholders, pursue legal avenues when necessary, and maintain focus on their mission of creating shared value and positive social impact.
“These challenges are not insurmountable. Our investment philosophy serves as a testament to the possibility of combining financial success with meaningful social impact. By prioritising shared value creation, seeking scalable social impact, and forging partnerships Sekunjalo has positioned itself as playing a meaningful role in Africa’s socio-economic development,” said Survé.
The Sekunjalo Group’s journey embodies the ongoing struggle for economic freedom in South Africa. Despite the challenges posed by alleged political influence, the Group stands firm in its commitment to the philosophy of “do good and do well.” By navigating these obstacles and upholding their core values, Sekunjalo strives to make a lasting positive change in the country, where economic freedom can coexist with meaningful social impact.
Together, they believe that change is possible.
