The full text of email needs to be revealed

THE REPORTING of your journalist Kabelo Khumalo on the purported saga of Sanlam, Alexander Forbes and African Rainbow Capital (ARC) cannot go unchallenged.

Representatives of Sanlam and Alexander Forbes can respond for themselves, but herewith a response from ARC.

While Khumalo is certainly quoting correctly from an email sent by Johan van Zyl in November 2017, he should provide the full context.

This is the same context I provided him with when he came to visit us at our offices. For the record: ARC as an empowerment investment holding company is in regular talks with a range of parties on possible new transactions and so forth.

We have investments in 44 listed and unlisted companies and we are in frequent contact with the leadership of these investee companies to discuss ongoing market opportunities.

We are a growing business and as such we choose to grow both organically and acquisitively. Having a conversation about a transaction says nothing about the certainty that it will indeed come to fruition.

More importantly, and since Khumalo is claiming to make a series of revelations, he should reveal to his readers the recipients of Van Zyl’s email.

We can state on record that the letter was sent to the chairperson of the board, the deputy chairperson of the board as well as the chief executive at the time – as is the practice with making a recommendation on strategy to an investee company.

In other words, did Khumalo enquire about the motives of his source who so eagerly whispered in his ear?

This is crucial as Business Report readers would want to have the assurance that the journalists of this publication are not used to fight the personal battles of others.