Sekunjalo Group CEO Lucien Jacobs has hit back at the Southern African Clothing and Textile Workers’ Union (SACTWU) General Secretary Andre Kriel, describing his recent public remarks regarding an ongoing legal dispute as “misleading and irresponsible”.
Responding to comments made by Kriel concerning the Independent Media Consortium (IMC) and related parties, Jacobs accused the union leader of presenting a distorted picture to SACTWU members while ignoring the substantial financial returns the union has received over the years.
Distortion of Facts and Financial Benefits
According to Jacobs, Kriel has failed to outline the full factual background and the financial benefits that have flowed directly to the union through its relationship with the group.
“Mr Kriel continues to present a distorted version of events and is failing to inform SACTWU members of the full factual background and the financial benefits that have flowed to the union over many years,” Jacobs said.
Jacobs maintained that SACTWU has already benefited substantially through shares, dividends, and other transactions linked to the broader Sekunjalo ecosystem, amounting to approximately R1.7 billion in value.
He added that Sekunjalo will continue pursuing all appropriate legal avenues to recover monies owed to the group, including funds related to the World of Work (WOW) publication project.
Target the PIC, Not Sekunjalo
Addressing the claims around the IMC transaction, Jacobs noted that SACTWU is pursuing the wrong party and should instead look to the entity that actually received the funds.
“If SACTWU believes it has a claim relating to the IMC transaction, it should pursue the party to whom the funds were advanced, namely the Public Investment Corporation (PIC), and seek recovery from the appropriate entities involved in that transaction,” Jacobs said.
Jacobs further raised serious questions regarding the actions of various executives, advisers, and union-related parties involved in the transactions:
“The real beneficiaries of certain arrangements are not being disclosed to SACTWU members, and those responsible for decisions taken at the expense of the union’s members should be held accountable,” he said.
Distinct Legal Entities and Risk of Litigation
Jacobs reiterated that IMC is a separate legal entity from the Sekunjalo Group, warning that attempts to conflate the two are legally and factually incorrect.
“The continued litigation strategy being pursued by SACTWU will only expose the union to further legal costs and potential counterclaims,” Jacobs stated.
Ready for Day in Court
Sekunjalo Group stated it is fully prepared to defend its position in court and welcomed the opportunity for all relevant facts, transactions, and relationships to be thoroughly tested through proper legal proceedings.
“We are ready to fight these allegations through every available legal channel so that the truth can be fully revealed and placed before the public and SACTWU’s members,” Jacobs said.
IOL
