More job cuts at prominent South African software development company

South African software development company Derivco has offered staff voluntary retrenchment packages with 24-hour notice, MyBroadband has learned.

The company has confirmed that it has begun another wave of layoffs, but did not answer questions about how many people are impacted and how much time they were given to consider the offer.

“Derivco confirms it has initiated a process to restructure its business operations as part of a broader effort to streamline its activities globally,” a spokesperson told MyBroadband.

“This necessary step is being taken in response to ongoing shifts in the technology landscape, and to ensure our business remains agile, efficient, and positioned for long-term success.”

Derivco said it was committed to conducting the process responsibly, in compliance with the relevant laws, and supporting all affected employees throughout.

This is the second round of layoffs at Derivco in less than a year. In August 2024, the company sent retrenchment notices to over 500 of its employees worldwide, saying it hoped to contain the job cuts to below 300 people.

At the time, Derivco said it employed 1,124 people in South Africa, with former CEO Quraish Behari saying up to 38 positions would be impacted.

In February 2025, Derivco ranked as the third-most trusted software development company in Analytico’s 2025 Business Technology Survey.

The survey found that 13% of IT executives said they would use Derivco for a large software development project.

Derivco increased its rating by three percentage points since the start of the year, indicating that it was increasing its brand awareness among ICT decision-makers.

Derivco gets new CEO

At the end of February, Derivco announced that Behari would step down as CEO to lead a new venture focused on driving innovation in the online gambling and technology industries — Derivco’s bread and butter.

Derivco was founded in Durban in 1996 as part of the emerging online gaming industry. Since then, it has evolved into a prominent global technology and software development company.

Behari has been with Derivco for 20 years and served in various leadership roles. Derivco said he guided the company through significant transformation over the past seven years as chief executive.

“For over 30 years, Derivco has been at the forefront of gaming technology, continually evolving to meet the industry’s rapid advancements,” Behari said.

“Change is part of our DNA, and we thrive on adapting to new challenges. With the ever-evolving nature of gaming, there is no one better suited to lead Derivco into this next chapter than Andrew.”

Andrew Slabbert succeeded Behari as managing executive of Derivco. The two have worked together for 16 years, and Behari said Slabbert was a seasoned leader with a strong iGaming background.

Derivco said that as part of its strategic direction, it would reinforce its focus on its core platforms and customer partnerships.

“By refining its operational priorities, the company is strengthening its foundations for the future,” the company said at the time.

“A renewed emphasis on optimising technology, services, and strategic collaborations will ensure that Derivco remains competitive in an evolving market.”

Since the announcement in February, Behari has updated his LinkedIn profile to indicate that he is a director of Derivco Holdings.

Derivco Holdings is the new name of Marown Holdings, a holding company for a multinational group spanning the United States, the United Kingdom, the Isle of Man, Sweden, Spain, Malta, Australia and South Africa.

The companies all offer software development services for the gambling and sports betting industry.

“At the heart of Marown Holdings Limited is its people, employing the brightest minds in technological innovation,” the company’s previous profile stated.