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Official Response – Sunday Times Article: “Yekani CEO blames Thato Abrahams for IT firm’s R68m debt”

Official Response 26 January 2020 For immediate release Official Response – Sunday Times Article: “Yekani CEO blames Thato Abrahams for IT firm’s R68m debt” Yekani Manufacturing (Pty) Ltd (“Yekani”) has noted today’s Sunday Times article with headline: “Yekani CEO blames Thato Abrahams for IT firm’s R68m debt”. The company would like to categorically refute this statement and distance itself from the claims made by the Sunday Times. Yekani would like to re-iterate that it does not blame Minister Stella Ndabeni-Abrahams and her husband – or anyone else both in the public and the private sector – for the financial issues…

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Official Response

26 January 2020

For immediate release

Official Response – Sunday Times Article: “Yekani CEO blames Thato Abrahams for IT firm’s R68m debt”


Yekani Manufacturing (Pty) Ltd (“Yekani”) has noted today’s Sunday Times article with headline: “Yekani CEO blames Thato Abrahams for IT firm’s R68m debt”.

The company would like to categorically refute this statement and distance itself from the claims made by the Sunday Times. Yekani would like to re-iterate that it does not blame Minister Stella Ndabeni-Abrahams and her husband – or anyone else both in the public and the private sector – for the financial issues that the company is experiencing currently.

Yekani and its Group CEO in particular – take full responsibility for its current state and its priority remains – to do everything in its power to protect and save the jobs of its employees. The Group CEO of Yekani would like to thank the National Department of Trade and Industry (DTI), the Eastern Cape Office of the Premier, Eastern Cape Department of Economic Development, the East London Industrial Development Zone (IDZ) for all their support and willingness to assist in saving the jobs of our employees.

Yekani and Standard Bank’s last court appearance was on 14 January 2020 – where a judgement determining the future of Yekani was going to be handed down. The outcome of this court appearance was a postponement until 18 February 2020 – this therefore means that this matter is now sub-judice.

In an effort to respect the court processes, Yekani is currently unable to provide further details or comment on any rumours around this matter as it runs the risk of prejudicing or interfering with the pending court proceedings and its outcome.

Dr Siphiwe Cele is the Group CEO of Yekani Manufacturing. 

Ends.

For additional information or media queries, please contact:­­­­­­­­­­­­­­­­­­­­­­­­­­  
Issued on behalf of Yekani Manufacturing by:

Miranda Lusiba – MD: Strangé Consulting

Mobile: +27 (0) 78 675 1297; Email: miranda@strangeconsulting.co.za/ora4117@gmail.com

 

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