Listed prepaid voucher company Blue Label, which opened doors in 2001, last month celebrated its 10th anniversary.
The company was founded by brothers Mark and Brett Levy after the two started selling car audio equipment and airtime out of the boot of a car. In 2001, it was granted a licence by Telkom to sell fixed-line prepaid cards.
The Levy brothers saw the opportunity to develop and own a distribution network through which they could distribute large volumes of secure electronic tokens of value, says a statement issued by the company.
In the last financial year, for the year to May 2010, the latest for which figures are available, the company turned over R17 billion and reported a net profit of R416 million. Its market capitalisation is R3.76 billion.
“We are proud of being able to celebrate our 10-year milestone. It's a great to see the vision of Blue Label becoming a reality,” says joint-CEO, Brett Levy.
Joint-CEO and co-founder Mark Levy adds: “At Blue Label, we celebrate success, but more importantly, we heed the lessons of our failures. For us, it's a constant learning process.”
Blue Label distributes cellular airtime, prepaid electricity, lotto tickets and other products and transactional services.
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