Networks Unlimited, an African value-added distributor of converged technology, data centre, networking, and security technology solutions, has announced a 53% broad-based black economic empowerment (B-BBEE) deal, which enables educational and community upliftment.
The company’s goal is to become the number one value-added distributor for South Africa and Africa, and essentially create global positioning across the African continent.
The company decided to enter into a deal with private equity in order to raise capital to achieve this goal, but despite seeing exponential revenue growth over the last 5 years, the company has said it has not yet brought them where they want to be.
“Over the last 5 years we managed to train and grow our staff to the size it is now as well as quadruple turnover with the capital we raised through a private equity deal,” said Anton Jacobsz, Networks Unlimited MD. “This, however, didn’t achieve our goals of where we wanted to be in the South African ICT landscape with the changes in the ICT sector and what we wanted to achieve from a procurement perspective for our partners and B-BBEE holdings in terms of ownership in the organisation,” said Jacobsz.
The Love Trust
After various meetings with many candidates, the company decided to partner with The Love Trust in order to improve Networks Unlimited’s B-BBEE rating, with further positive implications for those firms with whom they interact.
The Love Trust is a South African non-profit organisation launched by Christ Church, Midrand in 2009 with the vision to leverage CCPS quality education for destitute children in informal settlements, such as Tembisa.
Committed to the idea that a values-driven education is key to a stronger South Africa, to date the NGO reaches over 9,000 primary and secondary beneficiaries in disadvantaged communities, according to Hlengiwe Shakung, The Love Trust marketing specialist.
Thanks to this acquisition, Networks Unlimited is now a 53% black-owned organisation, of which the beneficiery and owner is The Love Trust. The NGO is independently managed by a board of trustees, and have appointed Abigail Khuluse as the Non-Executive Director (NED) for Networks Unlimited.
Khuluse, who sits on three other boards representing the Love Trust, has a core interest in good corporate governance in the interest of all stakeholders that are involved. She is also a member of the Institute of Directors, and keeps herself abreast of what’s required from a corporate governance perspective.
The agreement allows Networks Unlimited to be more focused on helping their partners to get better results with their procurement, while enabling the company to grow across South Africa and Africa.
“Being in a competitive industry, we believe that it is strategic to have the right BEE credentials, as it puts us into a position of being the preferred supplier to customers,” said Jacobsz.
New Corporate Identity
The company has also rebranded its corporate identity, which includes a new logo with a much cleaner look compared to its predecessor. The rebranding reflects both the growth of the company as well as its vision for the future.
“Although we are 24 years old, it is almost like the start of a new era for Networks Unlimited. As such, we’ve introduced our new logo, and we are trying to go back to basics by keeping it clean and modernizing it, while still maintaining parts of the old look,” said Jacobsz.
“Our catch phrase is ‘Empowering Africa through innovative IT solutions’, which is part also of our new branding, and ties in to our vision to expanding into South Africa and Africa, as well as with what we are trying to achieve in socio-economic development as well,” said Jacobsz.
For more information, visit the Networks Unlimited website.