Karriem, 64, was abducted outside his Sweets for Africa shop in Christian Avenue in Epping on Monday just before 11am.
The popular businessman from Cravenby also owns Giants Sweets.
On Wednesday, a source close to the family said his kidnappers have demanded a ransom of R20 million and that the family was busy negotiating his release.
“The family wants to get this over and done with as soon as possible because Karriem is not in a good state,” the source said without elaborating.
“Since Liyaqat’s kidnapping, it is the thing he has feared the most.”
He was referring to businessman Liyaqat Parker, who was kidnapped by five armed men, at his Goodwood business in July last year.
Parker is a board member of Al Amien Foods and a non-executive director of Brimstone Investment Corporation.
It was alleged that his kidnappers had demanded 50 Bitcoin, which was worth about R4.3m at the time.
A police source says on Wednesday night, members of the Flying Squad and K9 Unit were following up leads into Karriem’s abduction in Nyanga, when they stumbled upon an unrelated kidnapping of a businessman from Wolseley.
The 31-year-old man was abducted from his business in Wolseley on Tuesday evening and was brought to Cape Town.
According to police, officers noticed a suspicious white Toyota Corolla without backlights on Govan Mbeki Road and pulled the vehicle over.
They found four Somali nationals including a teen in the car, as well as a gun that was stolen in 2017.
Officers decided to trace back the movements of the suspects, which led them to a hokkie in Browns Farm, Philippi, where the businessman was found.
A source from Wolseley says the kidnapped man was unharmed and has since returned home.
“The businessman was picked up at Manenberg SAPS (Wednesday night). He was alone at his shop just after 8pm in Wolseley when the four Somali men grabbed him and shoved him into their car.
“Fortunately, he was unharmed, but he’s very traumatised. The suspects were also transported back to Wolseley Police Station,” the source said.
Police spokesperson, Lieutenant Colonel Andrè Traut, confirmed the incident but did not say whether the cops were following up on leads about Karriem.
“Flying Squad and K9 Unit members on patrol in Manenberg led to the arrest of four Somali suspects for being in possession of an unlicensed 9mm pistol and 11 rounds of ammunition.
“The four suspects, aged 17, 28, 29 and 34, were also detained for kidnapping a 31-year-old male who was forcefully removed from a shop in Masibulele Street, Pine Valley in Wolseley on Tuesday at around 8.20pm,” Traut said.
“It was discovered that the firearm was stolen in Bellville during August in 2017.
“Further investigation linked the suspects to the kidnapping, which was perpetrated the previous evening.
“The victim was traced to Browns Farm where he was found unharmed.”
Traut says the motive for the kidnapping is still being investigated.
When asked if there are any new developments in Karriem’s kidnapping, he said: “Kindly be advised that the case you are referring to is still under investigation and the kidnapped victim is yet to be found.”
The Daily Voice tried contacting Karriem’s family, but all calls went unanswered.