A financial dispute between Sekunjalo Investment Holdings and the Southern African Clothing and Textile Workers’ Union (Sactwu) has intensified following a Supreme Court of Appeal ruling and a new lawsuit. The Supreme Court of Appeal ordered Sekunjalo Independent Media to repay at least R458.6 million on a 2013 loan. Sekunjalo counters with a R628 million claim against Sactwu over an alleged unfulfilled funding commitment.
The long-running dispute stems from the 2013 acquisition of Independent Media. At its core are conflicting claims over a R150 million transaction involving Sactwu Investment Group (SIG). Sactwu maintains it was a loan that remains unpaid, while Sekunjalo disputes this characterisation.
In a March 2026 judgment, the Supreme Court of Appeal ruled that Sekunjalo Independent Media must repay SIG at least R458.6 million, including interest on the R150 million loan. The court dismissed Sekunjalo's defence based on a subordination agreement, deeming it invalidly authorised, and applied the in duplum rule to cap interest. The parties had agreed to a higher settlement figure, which the court acknowledged.
Sekunjalo issued a statement on 13 April 2026 rejecting Sactwu's narrative. It claims Sactwu proposed R250 million for a labour-focused publication, World of Work, supported by government and labour figures. After restructuring into a loan due to the Trilinear matter, Sekunjalo alleges Sactwu failed to fund the project, leading to a lawsuit for R628 million including interest and damages. The company notes the funds went to the Public Investment Corporation via attorneys.
Sactwu and SIG reject these allegations and are defending Sekunjalo's February 2026 action for R250 million plus interest, denying any enforceable oral agreement. The cases involve overlapping entities in the Independent Media structure and remain before the courts.
The dispute highlights governance issues in the empowerment-era deal funded partly by public sources like the PIC.