KSS increases BEE shareholding

Kunene Solutions & Services (KSS) has bolstered its Black Economic Empowerment (BEE) shareholding, increasing these shares from 28% to 36%. The move strengthens the company`s position as a BEE information communication technology (ICT) solutions partner and boosts its financial skills courtesy of new investor, Utho Technologies, a subsidiary of private holding company Utho Investment Holding (Pty) Ltd that has operational companies in the financial services and information communication technology (ICT) sector.

The previous BEE shareholding component within KSS, Kunene Brothers Holdings, sold its shares in order to consolidate and focus its interests on its other technology and ICT entities. This offered a new empowerment partner the opportunity to invest in KSS. KSS facilitated the mutually agreed change of ownership and offered additional shares to staff and management, further increasing the company`s BEE shareholding status. Dennis Naidoo KSS` current sales manager purchased the additional 8% of management shares further highlighting commitment and confidence from its management to the strengthened BEE organisation. Naidoo will execute his new role within KSS as an executive director.

Says Andre Maree, managing director at KSS: "The change in shareholding has allowed us to partner with a company that will be instrumental in our operations, creating an additional resource and skill-set for us to draw on. The added focus and value that this partnership brings will allow KSS to expand and strengthen its position in existing and new markets, whilst continuing its aggressive focus and drive on convergence solutions allowing businesses to consolidate voice, data and video over a single network. "

As part of the transformation, Sheila Galloway from Utho Investment Holding has also been appointed as a director of KSS. Galloway will assist in the management of operations as well as leverage their legal and financial proficiency to provide an enhanced perspective of the business.

Says Galloway, "Our value-add to KSS lies in the fact that we can and will strategically influence the growth and direction of the company, making us a partner that is fully involved in the operations of KSS. Utho is a well-established business that offers a wealth of business and management experience derived from its ventures in the technology and financial space. The company also has entrepreneurial skills that compliment the corporate management skills within KSS.`

KSS plans to build on the government, parastatal and enterprise sectors and the newly appointed directors` contribution to the increased BEE shareholding will assist in strengthening and enhancing KSS strategic positioning in these sectors.

Concludes Maree: "We welcome this change in shareholding as the benefits of the Utho Technologies partnership will directly and positively impact our operations, improving our offering and delivery capabilities to existing and prospective clients."