Telfree, a VANS providing VOIP and desktop video services to local consumers and corporates, recently signed a black empowerment deal, and indicated its intention to list on the AltX.
Telfree chairman and CEO Walter Betschel says the company is now 40% black-owned. "We have signed a deal with Bantu Holomisa (who owns 60% of the 40% stake), Sam Fidelis, Smuts Ngonyama (held through his wife at present) and Glenda Sitlakho (a Telfree employee).
"The remaining 60% of the organisation is 45%-owned by the international head office (based in Switzerland) and 15% by minority shareholders (either employees or small investors and friends of the company)," Betschel states.
Telfree launched into the South African market in late 2006. To date, it has signed up 500 agents, and has 4 000 active channels (one line can have multiple extensions or channels) and says it is adding agents at a rate of 40 or 50 a month.
The company offers a series of packages to customers, via its resellers, ranging in cost from R29 for home users to R130 for corporates.
A new package on the cards, Global Village, will let users purchase bundles of minutes which can be used locally, or internationally, via their cellphones. The company is in talks with Vodacom, in regards to offering the Global Village package to its subscribers.
The company is also keeping an eye on the international stock markets. Says Betschel: "We're, with our backers, seriously looking at the right time to go public; we're looking at the AltX. We had geared for May/June, but with the disarray overseas [the sub-prime lending crisis] we need to look and see. But," he adds, "when the market is in disarray, it is often when you make the most money."
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