Close

Not a member yet? Register now and get started.

lock and key

Sign in to your account.

Account Login

Forgot your password?

General  // Browsing posts in General

11 Feb 2015 General

HCI DENIES RIFT WITH SHAREHOLDER

A SPECIFIC share buyback by Hosken Consolidated Investments (HCI) of 2-million shares held by its executives and former directors did not point to a rift between management and the conglomerate’s major shareholder, the SA Clothing and Textile Worker’s Union (Sactwu). At a general meeting on Tuesday, HCI CEO Johnny Copelyn said there were no disagreements […]

Read more...

2 Feb 2015 General

CAN CAPITAL OVERCOME THE PAST?

A South African government program aimed at addressing deep historical inequities enabled a union-owned investment fund to build up enough capital to reach around the globe. The mostly black workers in the union now own a piece of a hotel chain in the Middle East and a clean-energy company in Pittsburgh. How much can be […]

Read more...

20 Jan 2015 General

IT’S TIME FOR BLACK-ON-BLACK EMPOWERMENT

A complete reliance on banks to extend credit to the previously disadvantaged who are looking to start businesses surely cannot be the right approach. Even Postbank, which many think will play a key role in extending credit when it is corporatised, cannot be the panacea. A solution also does not completely lie with state-owned institutions […]

Read more...

2 Dec 2014 General

HCI TO BUY BACK SHARES FROM MANAGEMENT

HOSKEN Consolidated Investments will buy back shares worth $27m from management, the investment firm said on Monday, giving the executives funds to buy out its biggest shareholder from an HCI spin-off investment. HCI, whose interests span broadcasting, textiles and hotels, said it will buy back shares worth R300m from entities controlled by its chief executive, […]

Read more...

21 Nov 2014 General

BUS DIVISION GIVES HCI EARNINGS SURPRISE LIFT

INVESTMENT conglomerate Hosken Consolidated Investments (HCI) received an unexpected boost from one of its unsung assets in the six months ended September. Interim numbers released on Thursday showed that Golden Arrow Bus Services, acquired for R250m in 2004, more than doubled its contribution to HCI’s headline earnings to R68m. The performance comes off a low […]

Read more...

19 Nov 2014 General

THE BIG CAPE TOWN DIVORCE

After taking nearly twenty years to build a well-fortified investment empire, it took less than two weeks for one of the most lucrative investment partnerships in SA’s corporate history to fall apart in the most shambolic of fashions. Last month Marcel Golding resigned his various posts in Cape Town-based Hosken Consolidated Investments (HCI) after falling […]

Read more...

17 Nov 2014 General

HCI MOVES AHEAD WITH MEDIA-FOCUS PLANS

eardel to unbundle non-media interests. With the much-publicised boardroom battle involving Hosken Consolidated Investments (HCI) co-founders John Copelyn and Marcel Golding now history, HCI is moving ahead with its plans to turn its subsidiary Seardel into a fully focused media investment company. Seardel, once better known as a textile and clothing manufacturer, plans to unbundle […]

Read more...

13 Nov 2014 General

SOUTH AFRICA; MINISTER OF ECONOMIC DEVELOPMENT, MR EBRAHIM PATEL

Statement on media reports This week we begin a series on Editorial Independence. It has been sparked by the eTV saga, starring Marcel Golding as our newfound ‘champion’ of media freedom. The Minister’s statement is run here to provide context for the analysis by Zubeida Jaffer and a scathing column by Professor Patrick Bond of […]

Read more...

2 Nov 2014 General

BLOOD ON THE FLOOR AT e.tv

Johannesburg – The fight and skirmishes at the Hosken Consolidated Investments (HCI) and e.tv have been so brutal that so much blood was spilled on the floor this week and showed how former comrades’ falling out could end a partnership dating decades due to differences on the direction of the business. The official departure of […]

Read more...

30 Oct 2014 General

SPARKS TO FLY AT HCI MEETING

QUESTIONS are likely to be raised at Hosken Consolidated Investment’s (HCI’s) annual general meeting on Thursday about chief financial officer Kevin Govender’s trade in Ellies stock. The unauthorised buying of Ellies shares led to the suspension and resignation of HCI executive chairman Marcel Golding. Mr Golding faced disciplinary charges after he bought about R24m of […]

Read more...