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SEKUNJALO Investment Holdings (SIH) has formally called on News24 to retract an article that purportedly tarnished the reputation of Dr Iqbal Survé, the chairman of the Sekunjalo Group.
The article, titled “Shareholder launches winding up bid for Iqbal Survé linked AYO”, was published on January 27, 2025, by Garth Theunissen and has raised alarms within the Sekunjalo community.
In a letter addressed to News24’s Editor-in-Chief Adriaan Basson and seen by the Sunday Independent, Survé’s representatives denounced the publication as containing “factually incorrect and misleading statements” that are detrimental to his name and standing.
They assert that the article misleadingly associated Survé with AYO Technologies, stating: “The phrase ‘Iqbal Survé-linked AYO’ is factually incorrect and misleading, as Survé is not part of AYO’s management team and does not participate in the day-to-day operations or decision-making of the company.”
The communication highlights specific allegations made within the article, including the assertion that “AYO and its representatives bear direct responsibility for the damages suffered by shareholders due to the massive drop in the company’s share price”.
Survé’s representatives contend that such statements “deliberately and unfairly misled the public”, contributing to unwarranted reputational risks. Furthermore, they accuse News24 of being complicit in what they term a “carefully orchestrated smear campaign” against Survé.
In a notable assertion, the letter critiques News24’s failure to acknowledge their earlier concerns, stating: “It has become clear to our client that News24 has no intention of giving effect to such purposeful application.”
The demand for immediate action includes a request for the retraction to occur within 24 hours and for evidence of its removal, along with the publication of a public apology and retraction over five days.
Critically, the letter notes the significant consequences of the misleading reporting. “The cumulative effect of News24’s actions… has directly contributed to claims of reputational risk by financial institutions, like the banks, thereby causing substantial and ongoing harm to Survé, AYO, and the Sekunjalo Group,” the representatives assert.
Additionally, the letter references a settlement agreement between AYO Technology Solutions and the Public Investment Corporation, implying that News24 had the obligations to accurately report the facts concerning these legal dealings.
The Sekunjalo Group’s representatives stated: “We hereby place News24 on notice that our client reserves all rights to pursue a claim for damages arising from the aforementioned conduct.” The communication ends with a strong reminder that the group’s rights remain “fully reserved”.
As the situation unfolds, eyes are firmly on News24 and its response to these serious allegations. For now, Survé and the Sekunjalo Group remain vigilant, ready to pursue legal avenues to safeguard their reputation and challenge the narratives propagated by the media.
This incident underscores the critical importance of accurate reporting in the media and the profound impact that inaccuracies can have on public figures and corporations alike. As the media landscape continues to evolve, the ongoing dialogue between journalistic integrity and corporate reputation will remain of paramount importance.
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