JSE-listed multinational, Spescom, has announced a deal that will see black enterprise Momotheka Trading, acquire a 40% shareholding in Spescom Telecommunications.
Momotheka Trading is owned by Lesedi Rakgokong, MD of Puisano Systems - a well established and respected telecommunications supplier.
Under the terms of the contract, Rakgokong is appointed non-executive chairman of the board of Spescom Telecommunications.
"This deal is an example of what true BEE should be about," says Rakgokong.
"All too often these initiatives merely bring empowerment credentials with little or no BEE contribution to a company's bottom line. In contrast, Puisano's ability to add value will be fully harnessed through management participation and the range of GSM products it brings to the Spescom Telecommunications stable," says Rakgokong.
He adds that the fit is an excellent one for both companies due to the similarity in business strategies.
According to Vernon Leas, Spescom CEO, South African operations, this deal is the latest development in Spescom's BEE initiatives, which commenced in the early 1990s.
Leas emphasises that successful and earnest BEE initiatives encompass four essential elements - shareholding with representation, procurement policies - aimed at outsourcing to other BEE companies, social responsibility and employment equity.
"Spescom has fulfilled these criteria by the procurement of a BEE partner with a significant shareholding and management representation. The group will continue its policy of support for black SMEs in terms of outsourcing components and services," says Leas.
He adds that Spescom's established employment equity programme is outlined in a strategic document, compiled in accordance with the requirements of the Department of Labour, that encapsulates the group's aspirations in this area at all levels.
"In terms of social responsibility, we have learned that the commitment of time and expertise is a far more valuable and effective method of ensuring a successful result. All too often one witnesses, in all industry sectors in this country, the launch of glamorous PR initiatives with vast sums of money invested, but inadequate or zero input and follow-through to ensure a successful outcome.
"As with all aspects of successful BEE, we have found that skills transfer is a two-way street. It is critically important to realise that as much as technical expertise is shared, so also is the knowledge of cultural and business attitudes that are prerequisites for success," says Leas.
Leas notes that the effort involved in BEE is often larger than originally perceived but, as with this latest development with Puisano and Spescom Telecommunications, there are immediate and measurable benefits for all parties concerned.
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Spescom is a multinational technology innovator with direct operations in the US, UK and SA.
The group is publicly listed on the JSE Securities Exchange SA (Spescom Ltd), and on the NASDAQ OTCBB: SPOC (Spescom Software Inc).
Spescom addresses the information and communications technology market providing both products and solutions to connect to the network economy, as well as enterprise software to manage information and knowledge.
Specifically, Spescom provides solutions in the areas of access network; enterprise information management; multimedia transaction recording; broadcast; customer contact centres; and test and measurement.
Spescom markets its products worldwide through appointed partners and distributors under the eB brand for its enterprise software, and the DataVoice brand for its multimedia transaction recording solutions.
Spescom's global customer base consists of multinational organisations including leading enterprises in the utilities, telecommunications, transportation, financial, banking and insurance sectors.
Worldwide, customers include Siemens, British Telecoms, Network Rail (formerly Railtrack), Lloyds of London, Barclays Bank, Abbey National Bank, WH Smith, Caterpillar, Bechtel, AmerenUE, Entergy, Bombardier, Ocean Energy, Sempra Energy, Telkom, SABC, Old Mutual, Eskom, Transnet and First National Bank.
For more information on Spescom, please visit www.spescomsoftware.com and www.spescom.com.
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