Cape Town, 26th October 2016 – Top financial performing and Top BBBEE JSE–listed Company, African Equity Empowerment Investments Limited (AEEI), today announced that during October, the Company acquired a majority shareholding of 57-percent equity in Puleng Technologies (Pty) Ltd (Puleng), an Information Communications Technology company.
AEEI has recently emphasised it's much vaunted 'Vision 2020 Vision' strategic roadmap. This acquisition of Puleng, meaning " Rain or Good Fortune in Tswana , serves as further evidence of AEEI's resolve to implement the objectives as set out in that strategy.
Puleng provides its customers with a client centric strategy to manage the two most valuable assets an organisation has, namely its "Data" and "Users", while facilitating IT and Business with a platform to build an efficient, collaborative Governance, Risk, and Compliance (GRC) program to address IT risks that are facing businesses today. To further enhance its strategy Puleng provides Converged Infrastructure Platforms which allow a leveraging of core competitive advantage across a Customer's Compute, Storage, Virtualisation and Management teams.
Group Chief Executive Officer of AEEI, Khalid Abdulla, commented "We welcome Puleng to the AEEI stable. The deal is significant in that it complements AEEI's Technology division and will provide additional technical skills, strong returns on investments, innovation and above all world-class support to its clients. AEEI's acquisition of equity in Puleng falls within the Group's 'Vision 2020 Vision strategy to deliver value for our stakeholders and is an important breakthrough towards the growth plans in our technology division, in preparation of a planned listing in the next three to five years. The key to the success of our Vision 2020 Vision strategy is our ability to add long-term value in the businesses that we invest in."
Puleng's Chief Executive Officer, Paul Thompson said, "This partnership is critical to Puleng, which after 12 years of remarkable organic growth, is now focused on the next level of development. Puleng's agility and sensitivity to its current and future market trends, will enable it to leverage AEEI's enviable presence position in the market and provides a platform for future exponential growth for the benefit of all concerned. "
Conservatively, it is anticipated that the investment into Puleng Technologies will be paid pack within three to four years. This 'payback' discounts the anticipated exponential capital appreciation expected from this investment. The purchase consideration for the transaction was concluded partly in Sekunjalo Technology Solutions shares, this adds to the sentiment that the Puleng shareholders believe in the technology group's planned roadmap . Investment in Puleng is set to nearly double the revenue of AEEIs current technology division and significantly contribute to growing its bottom line. According to Mr Abdulla, "A large percentage of AEEI's value resides in its Technology division. This deal with Puleng demonstrates the ambition of AEEI and its shareholders to realise our goals and objectives as set out in our Vision 2020 Vision strategy."
AEEI was awarded the Most Empowered Company and the Most Empowered Management of the Year awards by Empowerdex's Top 100 Empowered Companies Awards in October 2016, and was also ranked amongst the Financial Mail's Top 20 JSE listed companies for financial performance in 2016. AEEI's financial year-end results to 31 August 2016 will be presented to the market on or about the 26 October 2016. ENDS
More about Puleng Technologies
Puleng technologies is a proudly South African BBEEE Level Two ICT company with roots firmly planted around building local expertise and providing our customers with "Project Success" linked to the solutions we design and support. The Puleng Blueprint will provide our customers with a client centric strategy to manage the two most valuable assets an organisation has its "Data" and "Users", while facilitating IT and Business with a platform to build an efficient, collaborative Governance, Risk, and Compliance (GRC) program to address the IT risks facing businesses today.
Our emphasis remains is to provide organisations with solutions that automate, integrate and drive higher levels of efficiencies while mitigating risks across an organisation. The ability to offer value to our customers will be through higher levels of consultancy, design principals and understanding of a customer's business drivers and stated strategies supplied by local talent. The Puleng Technologies brand continues to gather momentum and is synonymous with "Project success", technical excellence and agility. We continue to provide our customers with technical leadership, strong returns on their investments, innovation and above all world-class support.
Puleng Technologies continues to push the boundaries of innovation, ready to make prompt decisions on adapting our portfolio and skills in order to continue to differentiate against our competition while ensuring our Professional Services business remains highly skilled and agile.
More about African Equity Empowerment Investments Limited:
African Equity Empowerment Investments Limited ("AEEI or "The Company" or "The Group") is a majority black-owned and black-managed investment holding Company based in South Africa.
The Group has investments in food and fishing, technology, health and biotherapeutics, events and tourism, all supporting Broad-based Black Economic Empowerment (BBBEE) and small, medium and micro enterprises (SMMEs). The Group also holds strategic investments in British Telecoms South Africa, Saab Grintek Defence, Pioneer Foods and Sygnia Limited, some with international partners. Our growth strategy is underpinned by our diverse portfolio and is reflected in our results. This growth strategy has laid a strong foundation for the next phase of the AEEI's Group's evolution which is reflected in achievements in terms of Vision 2020 Vision.
AEEI's primary market remains in South Africa; however, we continue to expand into the rest of Africa. Outside of South Africa we have a market presence in Asia, America, Africa, Europe, Dubai, United Kingdom, Zambia, Ghana, Uganda, Cameroon, Australia, Zimbabwe, Tanzania, Nigeria, Kenya and Namibia through our subsidiaries.
- 1st overall in the Empowerdex Top 100 Empowered Companies Award of 2016 ;
- 1st overall in the Empowerdex Top 100 Empowered Management Award of 2016;
- Ranked as a Top 10 JSE-listed Company in the Financial Mail's Top 100 Companies for financial performance in 2016 and 2015;
- 1st overall in 2016 and 10th overall in 2015 in the Sustainability Data Transparency Index by the Integrated Reporting and Assurance Services out of the top 500 JSE-listed companies. In 2014, AEEI received the top award – Sustainability Data Transparency Index's highest score in the Financial Services sector and was rated 16th overall. In 2013 AEEI was ranked 182 overall;
- A finalist in the Top Empowered Business of the Year Award at the Annual Oliver Empowerment Awards in 2015;
- Impumelelo Certificate of Excellence Award – Top Empowered Companies – in recognition of our commitment to transformation for the 2015 year; and
- Finalist of the Oliver Empowerment Awards – Top Business of the Year Award in 2014.
For more information, visit www.aeei.co.za