Local black empowerment company Sifikile Technology Group (STG) has signed a deal with Cyprus-based Asbis, a distributor of IT components and peripherals in the EMEA region, to create a new IT distribution player.
STG CEO Joe Vipond and Asbis Enterprises CEO Sergei Kostevich jointly announced the agreement in Johannesburg. They also announced the appointment of Peter Blaauw as MD of the new Asbis Africa.
"In terms of the agreement, STG and Asbis will form Asbis Africa as a supplier of computer components and peripherals in SA and neighbouring countries," said Blauuw.
"Both companies agreed that STG would take a 51.1% controlling stake in Asbis Africa with local management, staff and a consortium of private investors holding the remaining equity.
"The strategic partnership with Asbis Enterprises addresses two challenges that are facing this country.
"The first is the demand to drive black economic empowerment and transformation in a sector of the ICT industry that has been notoriously slow in adapting to the new political order.
"Second is the ability to respond quickly, efficiently and cost-effectively to the provision of a wide range of IT components and peripherals on the basis of global trading practices.
"Most local IT distributors are faced with almost insurmountable difficulties in stripping out costs in a market that is geographically remote and extremely price-sensitive.
"Asbis Africa will not only meet the Asbis international standards supplying local IT with a wide range of products, but will also play a major role in furthering black economic empowerment in this industry," said Blaauw.
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