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Johannesburg - Information and communications technology group Datatec [JSE:DTC] on Wednesday announced that the Mineworker’s Investment Company (MIC) has become the new black economic empowerment (BEE) partner in its South African distribution business Westcon South Africa (WSA).
Datatec purchased the minority stake in ICT distributor WSA from the previous BEE partner, African Legend Computing. MIC has subscribed for new shares in WSA constituting 26% of the equity.
MIC was established by the Mineworker's Investment Trust (MIT) to create an asset base for the benefit of mine, energy and construction workers and their dependents.
"We have been looking to make a strategic investment in a sound and solid IT company with international links and a good track record in South Africa and we see this as an excellent opportunity to build the information technology aspects of our investment portfolio," said MIC CEO Paul Nkuna.
MIC would take up two seats on the Westcon SA board.
"Transformation is the cornerstone of our investment strategy and we will be assisting the Westcon SA board in implementing their transformation strategy," Nkuna said.
"Transformation has been on top of our agenda and this partnership will give new impetus to our efforts in this regard and we see this new relationship translate into great value for our customers, vendors and staff," said Jacques Malherbe, WSA CEO.
Jens Montanana, Datatec CEO welcomed the the new partnership and said it was "strategic".
Datatec purchased the minority stake in ICT distributor WSA from the previous BEE partner, African Legend Computing. MIC has subscribed for new shares in WSA constituting 26% of the equity.
MIC was established by the Mineworker's Investment Trust (MIT) to create an asset base for the benefit of mine, energy and construction workers and their dependents.
"We have been looking to make a strategic investment in a sound and solid IT company with international links and a good track record in South Africa and we see this as an excellent opportunity to build the information technology aspects of our investment portfolio," said MIC CEO Paul Nkuna.
MIC would take up two seats on the Westcon SA board.
"Transformation is the cornerstone of our investment strategy and we will be assisting the Westcon SA board in implementing their transformation strategy," Nkuna said.
"Transformation has been on top of our agenda and this partnership will give new impetus to our efforts in this regard and we see this new relationship translate into great value for our customers, vendors and staff," said Jacques Malherbe, WSA CEO.
Jens Montanana, Datatec CEO welcomed the the new partnership and said it was "strategic".
