As Isaac Mophatlane gears up to take the helm of listed Business Connexion (BCX), he says there will be no change in the company's strategy while it is in the middle of being bought by Telkom in a R2.67 billion deal.
Mophatlane takes over from his late brother, Benjamin, who died suddenly about a month ago of a heart attack just before a meeting with Telkom over the proposed takeover. Mophatlane moves into the position on Friday from his current role as head of sales and marketing, a position he says will be advertised.
Addressing media at a roundtable this morning, the co-founder, in 1996, of what was then known as Business Connection, said his appointment is "bittersweet" as the circumstances are not ideal. He noted support from the board, staff, the industry and stakeholders has been "overwhelming" since his twin brother and business partner died. "There's no Ben and Isaac, there's just Isaac."
Carrying on
Mophatlane said it is "business as usual" for BCX, which will continue to look for growth opportunities in Africa and through cloud offerings. Deputy CEO Vanessa Olver notes, however, that BCX has held back somewhat on making large deals since Telkom's offer, although it has made small acquisitions.
Shareholders will vote on the bid on 11 August, and if the deal is green-lighted, it will then require Competition Commission approval. Olver expects it to be wrapped up by the end of November, or early December, if there is no opposition.
Olver says, should the deal not go through, BCX still has its own strategy to follow, and will continue to find niche acquisitions and build its African and cloud businesses.
Mophatlane notes the sector is currently very challenging, with multi-national companies entering the space, and ructions in the sectors it serves, such as mining and manufacturing. "I'm more than excited to be taking on this new responsibility."
Meanwhile, BCX has all but wrapped up its internal reorganisation, which it announced in March. The new company structure, done under a project called Hlanganisa, goes live on 1 September and will see it take just two units to market: converged infrastructure solutions and business solutions.
Olver says Jacques Loubser will head up converged infrastructure solutions, which comprises around 13 business units, including Integr8, while Vish Rajpal will lead business solutions, which contains about 10 units, including UCS. Both units fall under sales and marketing, a position that has yet to be filled, and are supported by its technical solutions team, and report to COO Jane Canny, she adds.
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