Solution provider T-Systems SA has sold for R3.5 million its 18% stake in Lechabile Holding, the black empowerment technology company it helped establish in 1998.
Lechabile was formed after T-Systems contributed R3.5 million to help seven former IBM executives establish their own business. The 18% stake has been sold to Lechabile for the original amount.
T-Systems SA`s CEO, Wolfgang Jakob, says the decision to sell the shares back to Lechabile was based on the empowerment company`s success.
"We did not embark on helping establish Lechabile to make a profit," he says. "We did it to demonstrate our support for black economic empowerment (BEE) and for SA."
Jakob says Lechabile is now a well-established and credible business force.
Lechabile supplies, supports and maintains IT, specialising in large and midrange systems, storage systems, software solutions and services, networking and licensing.
Lechabile IT Services is a systems integrator offering consultancy, implementation, maintenance, technical services, education and e-business solutions.
Jakob points out that T-Systems` support involved not only financial backing but also a hands-on approach to provide strategic direction.
"For any BEE partnership, it is imperative to establish and maintain independence between the investing company and the BEE company if it is to eventually stand on its own two feet, and this is something that T-Systems and Lechabile have been able to do," Jakob says.
The proceeds of the sale have been allocated to various affirmative action and employee equity projects within T-Systems.
The company will continue to investigate other opportunities to invest in small start-ups, which it says will reinforce its commitment to black economic empowerment.
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