Big names net big
Last year, Didata placed two small units into a new company called Britehouse. Ngcaba bought 15% of the new operation through his investment company. He did not say who else was in his consortium, but was negotiating to bring in black women and young people.
Siemens Southern Africa became 30% black-owned by selling more shares to two existing investors, Linacre Investments, and Business Venture Investments. CEO Sigi Proebstl said: “Empowerment is all about how our strategic partners are able to add business and financial value and contribute to our overall objectives.”
Datatec merged part of its South African operations with African Legend Technologies, holding 55% in the new entity with African Legend Technologies holding 45%. Datatec CEO Jens Montanana said uniting with an active black IT firm to create a larger operation with more skills and customers was more effective than selling shares in its existing business.
US networking giant Cisco appointed businessman Dudu Kunene to form a board of economically, socially and politically well-connected people to advise it on empowerment. Cisco has set up two new companies that will be 25% black-owned, although no investors have been named yet.
DataPro sold a 20% stake to Lereko Metier Capital Growth Fund for R120m. Lereko Metier is led by former environment minister Valli Moosa, former North West premier Popo Molefe, and Lulu Gwagwa, a former deputy director-general in the public works department.
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