Faritec Holdings, a JSE-listed IT services company, today announced that Dr Hasmukh Gajjar has been appointed as deputy chief executive officer. Dr Gajjar`s focus will be to develop the black economic empowerment and transformation framework for Faritec as well as assist in developing new business offerings and grow Faritec`s client base.
Dr Gajjar brings a wealth of experience in achieving these objectives, having held the position of president of the Black Business Council and Black IT Forum, being a member of the ICT charter task team and various roles in many other ICT forums and bodies.
Prior to this appointment, Gajjar was an executive director at Faritec following the empowerment transaction Faritec concluded in April 2003 with a consortium led by the J & J Group and union investment company, Lesaka Holdings.
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Faritec, a leading, profitable IT company listed on the JSE, provides managed business and technology infrastructure solutions. Faritec combines intellectual capital, resources, technology and business processes to provide tailor-made IT solutions with the objective of assisting customers to manage their businesses more effectively. The company consists of three subsidiaries; these include Faritec Enterprise Solutions, Faritec Strategic IT Services, and Inter-company Processes.
In April 2003, Faritec announced an empowerment transaction with a consortium led by the J and J Group (J&J), a strategic investment and management company, and that included union investment company, Lesaka Holdings. The consortium acquired 30% equity in Faritec and as part of the transaction, Faritec also acquired the operational assets of Consilience, an IT systems integration company and joint venture between J&J and Tata Africa Holdings (SA) (Pty) Ltd.