Dr. Iqbal Surve, who describes himself as “doctor, philanthropist and social entrepreneur”, was born in 1963 and grew up in poverty, as virtually all non-white South Africans during apartheid. During the 1970s and 1980s, he held executive positions in the ANC’s fight against apartheid. After the end of apartheid, Surve served as a doctor many prominent South African leaders like Nelson Mandela and the football team. But by the mid-1990s, Surve, like many of his com … Read more »

Dr. Iqbal Surve, who describes himself as “doctor, philanthropist and social entrepreneur”, was born in 1963 and grew up in poverty, as virtually all non-white South Africans during apartheid. During the 1970s and 1980s, he held executive positions in the ANC’s fight against apartheid. After the end of apartheid, Surve served as a doctor many prominent South African leaders like Nelson Mandela and the football team. But by the mid-1990s grew Surve, like many of his comrades, frustrated by the large economic differences that existed in South Africa, although its progressive constitution grants all citizens equal rights. It seemed the government Black Economic Empowerment (BEE) policies were only enrich a few. In 1997, Surve and three of his comrades Sekunjalo, an investment holding company, which emphasized on “a gentler capitalism” that putting people before profits, talent and development as a means of increasing the wanted offer the lives of previously disadvantaged South Africans. Until 1999, the company listed on the Johannesburg Stock Exchange, so that 36-year-old the youngest CEO of a listed conglomerate Surve. Since its inception, Sekunjalo just bought controlling stakes in companies, hoping to empower black workers. In 1999 it had a 5% stake in Leisurenet, a white-owned and-run South African company that operated health clubs bought, looking for BEE partners worldwide. Surve hoped, eventually buying a majority stake in the company, but in 2000 the company went under the largest corporate scandal in the history of South Africa. On a day Sekunjalo’s stock fell 44%. Surve, already a very public figure in South Africa had to decide what to do, especially what his loyal employees who had invested so much in Sekunjalo mission tell.
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from
Linda A. Hill,
Emily plug
Source: Harvard Business School
27 pages.
Publication Date: Apr 16, 2007. Prod #: 407019-PDF-ENG
Dr. Iqbal Surve at Sekunjalo Investment Group (A) HBR case solution

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