BUSINESS LIVE / 04 SEPTEMBER 2019 - 20.33 / MUDIWA GAVAZA
Ascension Capital Partners is run by former PIC senior legal adviser Kabelo Moja
JSE-listed information and communications technology company Datatec on Wednesday said its local subsidiary Westcon has a new empowerment partner following the disposal of a 40% stake by MIC Investments to Ascension Capital Partners.
Datatec CEO Jens Montanana. Picture: MARTIN RHODES
Ascension Capital Partners is run by former PIC senior legal adviser Kabelo Moja.
“I am delighted to welcome Ascension as our new BEE partner in Westcon SA and thank the MIC for its valued contributions during its nine years as a shareholder of Westcon SA,” Datatec CEO Jens Montanana said in a statement.
MIC first purchased a 26% shareholding in Westcon SA in 2010 for an undisclosed sum with an option to increase it to 40%.
Westcon SA made $98.8m (R1.47bn) in revenue for the financial year to end February 2019, marginally down from $102,6m (R1.51bn) in the previous year.
“As a South African company, Datatec strongly supports the BEE programme and we are very proud of the level 1 BEE rating achieved by Westcon SA,” said Montanana.
Earlier this week, Datatec said it had bought two companies in Europe through a subsidiary, Logicalis, in a move that will further strengthen its operations there.
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