Banking and insurance systems specialist, Business Edge Systems, has concluded a deal whereby African Spirit Trading - a wholly black-owned entity - has acquired a 26% shareholding in the company. Alan Pillay, representing African Spirit Trading, has joined the board as COO with effect from 1 July 2006.
Rob Stansell, MD of Business Edge, says: "We consider ourselves fortunate to have Alan join us. He is an experienced consultant and business manager having started his consulting career in the ICT sector 15 years ago. In the 12 months that this deal has been in the making, the new executive team has achieved a real meeting of the minds and has laid down a revised growth strategy for the company. Alan`s contribution to this was substantial."
Pillay says: "The fact that we have been operating in the banking and insurance sectors and - in several cases - with the same clients, led to our meeting and entering into this partnership. Business Edge`s reputation for high-quality delivery and the alignment of our values were key ingredients for a successful partnership."
Business Edge`s BEE strategy is aligned with the DTI codes of good practice and implementation has been in progress over the last three years. The strategy addresses six of the seven elements, namely: equity ownership, management, employment equity, skills development, preferential procurement, and corporate social investment.
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