Cape Town, 25 October 2016 – Recognised as a top performing financial and top BBBEE JSE–listed Company, African Equity Empowerment Investments Limited (AEEI), today announced that the Company had acquired a majority shareholding of 57-percent equity, in Puleng Technologies (Pty) Ltd (Puleng) an Information Communications Technology (ICT) company.
The acquisition of Puleng, meaning ‘Rain’ or ‘Good Fortune’ in Tswana is effective 1 October 2016 which serves as further evidence of AEEI’s resolve to implement the objectives of its ‘Vision 2020 Vision’ strategic roadmap, which sees it continuing to grow its underlying assets and investments.
Puleng provides its customers with a client-centric strategy to manage and secure the two most valuable assets an organisation has, namely its ‘data’ and ‘users’. It does so while facilitating IT and businesses with a platform to build an efficient, collaborative Governance, Risk and Compliance (GRC) programme that addresses IT risks facing businesses today.
To further enhance its strategy, Puleng provides Converged Infrastructure Platforms (CIPs), which allow a leveraging of core competitive advantages across a Customer’s computer, Security, Storage, and Virtualisation and Management disciplines.
Group Chief Executive Officer of AEEI, Mr Khalid Abdulla, commented, “We welcome Puleng to the AEEI stable. The deal is significant for AEEI with its estimated additional R200 million annual revenue to the Group which will complement and grow our technology division with additional technical skills across the Group, innovation, world-class support to AEEI’s clients and strong returns on investments.
“AEEI’s acquisition of Puleng falls within the Group’s Vision 2020 Vision strategy to deliver value for our stakeholders and is an important breakthrough in our growth plans for our Technology division in preparation for a planned listing within the next three to five years. The key to the success of our Vision 2020 Vision strategy is our ability to implement and add long-term value in the businesses that we invest in,” continued Abdulla.
Puleng’s Managing Director, Mr 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, reputation and position in the market, which also provides us a platform for future exponential growth for the benefit of all concerned. “
It is anticipated that AEEI’s investment into Puleng Technologies will have a pay-back period of three to four years. This ‘payback’ excludes the anticipated exponential capital appreciation expected from this investment.
The purchase consideration for the transaction was concluded partly in issuing shares in AEEI’s subsidiary and technology holding company – this adds to the sentiment that the Puleng shareholders believe in and are committed to this division’s growth and future plans which includes a separate listing. Investment in Puleng is set to significantly increase the revenue of AEEI’s current technology division and contribute to growing the IT sector as well as Group’s overall bottom line.
According to Abdulla, “A sizeable percentage of AEEI’s value now resides now in its technology division. This deal with Puleng is another indication of how our ambition to realise the goals and objectives that we have set out in our Vision 2020 Vision strategy, are coming to fruition.”
As testament to its future-thinking approach and its ability to deliver, AEEI was recently recognised by Empowerdex in its annual benchmark of JSE Listed companies as the Most Empowered Company, the Most Empowered Management Control, and was also listed by the Financial Mail as a Top 10 Performer on the JSE for financial performance. AEEI is ranked amongst the Top 10 places for the IRAS highest SDTI score for governance as well. AEEI’s financial year-end results to 31 August 2016 will be presented to the market on 26 October 2016.
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;
- Impumelelo Certificate of Excellence Award – Top Empowered Companies – in recognition of our commitment to transformation for the 2015 year.
Should you wish to set up an interview with Mr Khalid Abdulla, contact:
Feroza Petersen | Communications & Marketing manager
Tel: + 27 21 427 1400
Mobile: +27 82 801 3919
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.
Should you wish to set up an interview with Mr Paul Thompson:
Mr Paul Thompson | Managing Director
Mobile: +27 83 501 7243