JOHANNESBURG – In 2014, Johannesburg Stock Exchange (JSE) listed software provider, Adapt IT, acquired 49% of Uyandiswa, a start-up project management consultancy based in Johannesburg, as part of its enterprise development commitment.
Sbu Shabalala, CEO of Adapt IT, announced during the company’s recent annual results presentation that the programme has proven successful.
Adapt IT took the project management fledging, then a two-person business, helping Amanda to build it into an 80 person-strong firm with a turnover nearing R100 million.
Uyandiswa’s footprint presently spans South Africa and Botswana, with a focus on the financial services, fast moving consumer goods (FMCG) and healthcare sectors. As a 100% black-women owned business with a Level 1 Broad-Based Black Economic Empowerment (B-BBEE).
Amanda Dambuza, its dynamic founder and CEO, buying back the 49% at a deep discount, concluding a successful three-year enterprise development programme with Adapt IT.
“Uyandiswa’s stellar growth over the past few years and its equally bright future are testament to the extensive support we received from Adapt IT’s executive team and its recognition of our potential,” explains Dambuza.
“Not only has the company shared support services over the past three years, but senior management has provided a great deal of knowledge and expertise, even down to assistance with the initial deal negotiation, allowing Uyandiswa to focus on growing the business from strength to strength”.
It was made effective 1 July 2017, Uyandiswa would be independent of Adapt IT.
“We are extremely proud of the success of Uyandiswa, helped in its early phase of development through Adapt IT’s enterprise development programme, and look forward to seeing the new, expanded Uyandiswa thrive in the years ahead,” states Sbu Shabalala, Adapt IT CEO.
- BUSINESS REPORT ONLINE