Jasco Electronics Holdings, the JSE-listed telecommunications group, has signed a partnership agreement with Consent Investors (Pty) to jointly handle telecommunications network build work in South and southern Africa.
In particular, the joint venture will pursue network build services contracts associated with the roll out of the country`s third cellular network.
Dr Zolile Maqetuka, managing director of Consent Ventures, will become the managing director of Khululeka Telecomms, the 50/50 joint venture company to be formed by Jasco and Consent.
Maqetuka says that the immediate objective of Khululeka will be to clinch work for the third cellular network`s station sites. He expects the value of the envisaged contract to be worth more than R500 million to Khululeka over the next five years.
"We believe we have a very good chance of being awarded the contract," says Maqetuka.
George Debbo, chief executive of Jasco`s Network Build division, says that the joint venture is in line with Jasco`s commitment to involve historically disadvantaged South Africans in its telecommunications activities in the region.
"This is but another deal in a series of black empowerment transactions in which Jasco has been involved," Debbo says. These include:
A Jasco-financed transaction whereby the group`s Voice division sold a controlling interest in Alro Composites to an empowerment partner headed by Maqetuka.
Jasco`s Data division has assisted several black controlled installation companies in setting up their own businesses over the past 18 months.
Jasco has outsourced courier services, hardware supply and freight forwarding to black economic empowerment contractors.
Jasco has provided practical and financial educational support to a number of black entrepreneurs and technicians.
Share
