Black economic empowerment (BEE) company Odirile Investment Holdings has obtained a 31% equity stake in IT training company Netscope Training.
The deal, said to be worth several million rand, was announced yesterday at a function held at Microsoft`s Bryanston offices.
This morning, Odirile group chairman Jerry Mashinini and Netscope CEO Jason Perthel declined to reveal how much the deal is worth, saying Odirile is a private company and will thus not divulge information about the value of the deal.
Perthel says in SA`s current economic climate, a stable and reputable empowerment partner is vital to ongoing sustainability.
"After a careful search for an empowerment partner, we were convinced and have absolute confidence that Odirile, under the leadership of its group chairman Mashinini and group CEO, Tshepo Mahlangu, will provide us with that," says Perthel.
He says Odirile will assist Netscope with transformation and compliance with the Code of Good Practice on black empowerment. "The deal also means we will be able to access a diverse pool of black talent.
"There`s a drastic shortage of black IT trainers and our intention is to, among other things, provide training for black IT trainers; in turn they will impart those skills to others."
Mashinini says the country is facing skills development challenges, with students receiving IT training but lacking practical work skills. There is also a high level of skills shortage, with experienced South African IT professionals plying their trade in foreign countries.
He says as part of the companies` partnership agreement, they will equip as well as re-train IT graduates with better skills to fit in the working environment. "We want to ensure IT graduates are re-trained so as to improve their practical work environment skills."
Mashinini adds that the deal does not only benefit both parties. "The outcome of this deal should be to also ensure we take IT training to rural areas, making IT more accessible to rural schools."
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