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SKJ
SKJ
Sekunjalo - Sekunjalo secures Cape Town International Jazz Festival
Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/006093/06)
Share code: SKJ & ISIN: ZAE000017893
("Sekunjalo" or "the group")
Press statement
Sekunjalo secures Cape Town International Jazz Festival
JSE-listed Sekunjalo Investments Limited (SIL), South Africa"s top empowered
company in 2006, has announced that it has bought a stake in ESP Afrika
(Pty) Ltd and South Atlantic Jazz Festival, organisers of the prestigious
Cape Town International Jazz Festival (CTIJF).
This deal is being done through SIL"s subsidiary, Sekunjalo Media Holdings
(Pty) Ltd, which has bought a controlling stake in the companies with the
two original shareholders, represented by CEO Rashid Lombard and operations
director Malcolm "Billy" Domingo, holding the remainder.
The value of the transaction was not disclosed.
The ESP deal is the first transaction by Sekunjalo Media Holdings, which was
started earlier this year with the appointment of Ryland Fisher, a former
editor of the Cape Times, as CEO. More announcements from Sekunjalo Media
are expected in the next few weeks.
"Jazz has a special place in the hearts of Capetonians and the CTIJF has a
special place in the hearts of people around South Africa and the world.
"What many people do not know is that ESP manages many other big events and
is one of the leading events organisers in South Africa.
"We are glad to have bought into this company and, as the head of Sekunjalo
Media, I look forward to working with Rashid and Billy in expanding the jazz
festival into an even a bigger event and to grow ESP," said Fisher.
ESP CEO Rashid Lombard said: "We value the business skills that Sekunjalo
brings to the partnership. We share the same values and commitment towards
developing, supporting and empowering communities and small business
initiatives. We look forward to a long and happy relationship especially
working towards the 8th Annual Cape Town International Jazz Festival".
Billy Domingo, ESP operations director, said: "At last we have a partner who
shares the same vision and passion. We look forward to a mutually beneficial
working relationship. The timing could not be better as we are inundated
with business at home and abroad".
Sekunjalo Chairman and CEO Dr Iqbal Surve? said it was important for
Sekunjalo to support entrepreneurs like Lombard and Domingo.
"We have always been involved in music and particularly jazz, through the
annual Sekunjalo Jazz Concert, and believe that the jazz festival
contributes in a major way to tourism and the economy in Cape Town and South
Africa. It is recognised as a global event and should complement our other
initiatives to do business in the global arena.
"We are pleased to announce our entry into the media sector in this manner.
We believe that media is an important sector in our country and hope to grow
our media division significantly in the coming years, not only in events but
also in publishing and new media.
"I see this acquisition as an important platform for growth for Sekunjalo in
the media sector. This decision by Sekunjalo to grow the jazz festival and
the events business is confirmed by the appointment of two of its senior
executives to the board of ESP," said Dr Surve.
All parties involved in the transaction refused to be drawn on which artists
will appear at next year"s festival, scheduled for the last weekend in
March. "Watch this space," was all Lombard was prepared to say.
22 November 2006
For more information, contact:
Ryland Fisher
CEO
Sekunjalo Media Holdings
Office: 021 7027700
Mobile: 082 800 5326
Email: rylandf@sekunjalo.com
Rashid Lombard
CEO
ESP Afrika
Office: 021 4225651
Mobile: 083 289 1202
Email: Rashid@espafrika.com
Date: 22/11/2006 04:30:25 PM Produced by the JSE SENS Department
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