It’s been a tough year for Sekunjalo chair Iqbal Survé. He has had to sit and watch as the share prices of his three listed vehicles, African Equity Empowerment Investments (AEEI), Premier Fishing and Ayo Technology Solutions, head determinedly towards record lows. Of course, in this he is not alone. Shareholders in many listed companies have had to endure similar white-knuckle experiences during most of 2019 and much of 2018.

But eroding share price values are only part — and a small part at that — of Survé’s annus horribilis.

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