A few years ago JOHANN RUPERT bought a company called ELEMENTONE which holds a stake in Caxton Newspaper for more than R2 Billion.
The company was bought through Remgro and Rupert Owned Rand Merchant Bank(FNB/First Rand/Wesbank) which gave Rupert 40% shares in Caxton.
Now the parent company to Elemontone is Rand Merchant Bank Investment whilst its subsidiary is Johnnic Group.
Which has access to Black Money at the PIC.
Now the investment Wing to Elementone is a Asset Management company called ElementOne Limited which also holds an interest in Caxton.
It gets interesting some of the Subsidiaries of ElementOne are
Avusa (Johnnic Communications, Times Media Group/Tiso Blackstar).
Now Tiso or Kagiso Tiso is Black owned and also owns your Khaya FM but guess what Kagiso is a subsidiary of Remgro were Rupert has more than 30% of Shares in Kagiso which sounds too little but it means he controls the media entity including Khaya FM.
Now Here Are Some of the Subsidiaries of Avusa/ BlackStar Tiso
The Sunday Times
In fact Kagiso Tiso which was initially called Kagiso Trust was started by the likes of Frank Chikane if not Thabo Mbeki.
Beyond companies that Remgro controls in the print media Remgro also owns eMedia which controls eNCA and e.tv. The arguement that has always been made is that Rupert due to his minor shares neither controls nor owns both Enews and Etv but controlled by Sactwu Investment Arm, Hosken Consolidated Investment (HCI).
What is interesting again in this scenario is that it was Remgro and Rand Merchant Bank that gave HCI vendor funding which means HCI is owned by Rupert and owes him money.
Soo in the final analysis Rupert who literally controls South Africa’s Economy also controls the media which has a been a very critical player in setting the political agenda including who should become the next ANC President.
It is then of no coincidence that media houses like Sunday Times, Sowetan, Enews etc have been in the forefront to decampaign those who have been critical about the skewed patterns of ownership and divert South African’s in particular Black people from confronting landlessness, ownership etc by focusing them on the Gupta’s.
Like a Father protecting his own son Rupert has also ensured the mainstream media posits his mentee Cyril Ramaphosa, who is also his business partner in old and new joint ventures such ad Pembani/Remgro Infrastructure hence whilst his adopted children and family like Frank Chikane, Thabo Mbeki, Jay Naidoo, Pravin Gordhan are doing their best to protect their funder.
Thus when you listen and read news in South Africa always remember the media is just like any other business whose objective is to serve the interest of the owner.
WMC Controls The Narrative in South Africa you choose which is the truth?
By Village Diares