CAPE TOWN - JSE-listed AYO Technology Solutions Limited (AYO), which was established in 1996 and is one of South Africa’s largest broad-based black economic empowered ICT companies, has entered into a significant long-term partnership agreement with integrated chemical and energy multinational Sasol.
The agreement was announced yesterday.
Through the partnership, AYO will deliver and manage a set of global network, communications and security services.
The contract will be managed and run by AYO with a highly motivated and skilled team and would also contribute to Sasol’s transformation requirements.
AYO also meets Sasol’s transformation objectives with a high-level of ICT skills at its core, underpinned by an ownership base comprised of more than 70percent black ownership and 33percent black women ownership.
AYO will play an integral role in delivering on and managing the existing managed services contract as well as participating, where relevant, in Sasol’s digital transformation plans.
Kevin Hardy, the chief executive of AYO Technology Solutions, was excited about being part of this new era and stated: “We at AYO are extremely proud that Sasol’s management has chosen us to partner with them in this journey.
“Sasol is a well-respected brand in the country, and a pioneer in both digital transformation and most importantly true transformation of their business with regards to the B-BBEE codes and the ICT charter.
“We are looking forward to working with a very passionate Sasol team, and doing some ground-breaking things together,” he said.
AYO reported its maiden results earlier this month and announced a 49percent increase in revenue to R349million in the six months to February from R234m in the prior period.
The increase in revenue was mainly attributable to organic growth in revenue, a rigorous approach to increasing margins through better sourcing across the business and driving new market share.
AYO currently services customers in Southern and Northern Africa, Europe and Mauritius, among others.
Its strategic alliance with British Telecommunications South Africa provides access to global technology trends
as well as access to the global market.
“The contract with Sasol is a huge vote of confidence in AYO - specifically in terms of its professional capacity, but also for empowering change in the South African ICT sector,” added Hardy.
“Transformation in the ICT industry has been extremely slow. We’re proud to have successfully concluded our first substantial contract, which we believe is the first of many steps to transform the ICT sector in our country,” he said.
AYO shares dropped 8.77 percent on the JSE yesterday to close at R26.