Local converged network provider KSS Technologies has increased its empowerment shareholding to 60%.
The company says it purchased shares from a number of smaller shareholders and sold 25% to an existing shareholder and KSS director, Ntsundeni Madzunya, for an undisclosed amount.
MD Andr'e Maree says business potential, as a result of this transaction, is “astronomical”.
“We have always had sound business principles, but we have been extremely limited as a result of our BEE status. We can now focus on business that we didn't qualify for previously, including the banking and mining sectors and, most of all, the national, provincial and local government.”
Midrand-based KSS specialises in the design, implementation and support of converged networking solutions.
“We believe that the spirit of true BEE encompasses a variety of elements, not only equity. Social upliftment and nation building; skills development and knowledge transfer; job creation and sustained learnership programmes are all key components of our BEE strategy.”
Empowerdex has verified KSS's status as an empowered organisation.
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