Dr. Iqbal Surve at Sekunjalo Investment Group (A) Harvard Case Solution & Analysis

Dr Iqbal Surve, who call themselves "doctor, philanthropist and social entrepreneur," was born in 1963 and grew up in poverty, as well as almost all non-white South Africans under apartheid. During the 1970s and 1980s, he served in senior positions in the ANC, fighting against apartheid. After apartheid ended, Surve served as a doctor for many well-known South African leaders as Nelson Mandela, and the national football team. But by the mid-1990s, Surve, like many of his comrades, grew frustrated by the enormous economic differences that existed in South Africa, although its progressive constitution to all citizens equal rights. seemed black Government Economic Empowerment (BEE) policies are only enriching a few. Surve in 1997 and three of his comrades founded Sekunjalo, an investment holding company which aims to offer a "softer capitalism," which emphasized putting people before profit, and talent development as a means of improving the life of previously disadvantaged South Africa. By 1999, the company is listed on the Johannesburg Stock Exchange, making the 36-year-old the youngest general Surve director of listed diversified conglomerate. Since its inception, Sekunjalo only acquired controlling stakes in companies, hoping to empower black workers. In 1999, it acquired a 5% stake LeisureNet, white-owned and-run South African company that operated health clubs in world and seeks BEE partner. Surve hope eventually to buy a controlling stake in the company, but in 2000 the company went under in the biggest corporate scandals in the history of South Africa. For one day, the stock fell Sekunjalo by 44%. Surve, already very public figure in South Africa, had to decide what to do, especially what to say to your loyal employees, who have invested so much in the mission Sekunjalo author. "Hide
by Linda A. Hill, Emily Stecker Source: Harvard Business School 27 pages. Publication Date: April 16, 2007. Prod. #: 407019-PDF-ENG

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