ICT service assurance management solutions company NSS has completed a black economic empowerment transaction. CEO Lynda Odendaal welcomed new partners Lerato Mashologu and Nonkqubela Mazwai. Mazwai, who has extensive experience in the consulting and IT industry, will fill an executive role.
According to Odendaal, finding the right partner mix was key to the success of NSS. "We spent almost one-and-a-half years trying to find the correct mix," she said. Provision has also been made for staff to participate via a share incentive trust.
"NSS has for some time been pursuing a BEE policy, and a transaction that would open the door for new empowerment entrants and black women at NSS," Odendaal says.
"In addition, we needed to ensure that our ultimate choice of partners would fit into our overall strategy of innovation, and a have a passion for customers. In other words, the transaction had to be truly meaningful," she added.
NSS enlisted the services of corporate advisor Bravura Equity Services, to assist with the transaction. According to Stephan van der Walt, associate at Bravura, NSS concluded a sustainable BEE transaction which complies with the requirements of the broad-based BEE Codes of Good Practice, as issued by the DTI.
"We believe that both NSS and its new BEE partners and staff will experience real economic benefits as a result of concluding a transaction which embraces true empowerment and the principles of broad-based BEE," Van der Walt says.
The company will continue to deliver ICT service assurance management solutions to service providers and enterprises.
For further information: Lynda Odendaal at (011) 519 8600.
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