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A little over one month into 2022, and African Equity Empowerment Investments (AEEI, previously Sekunjalo Investments) already has four Sens statements under its belt. It is on track to beat the 29 issued in 2021. That’s a lot of Sens for a company with a market cap of just R442m.

The most benign of the four Sens statements relates to the appointment of a new director. The other three deal with worrying developments at the Iqbal Survé-controlled investment company. At issue are two of AEEI/Sekunjalo’s partnerships with the profitable SA subsidiaries of three high-profile European companies — British Telecom (BT), Saab and Siemens...

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