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| 33% of Exponªnt equity taken up by Black Shareholders. |
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| Exponªnt, having recently been nominated as one of South Africa's top 300 companies as a result of its contribution to the growth of the economy and job creation, have concluded a deal whereby Pytron (a Black owned company) has acquired 33% of its equity. |
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Exponªnt and Pytron have had a relationship for the past 5 years in which the companies have been successful with various joint ventures including: The Inmate Tracking System Project for The Department of Correctional Services, being appointed on SITA's tender 38 as one of five preferred consulting suppliers countrywide for services to the government and the awarding of the SA Navy's contract to maintain its OSIS system. |
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| Says Marius Pels, CEO of Exponªnt, "We have accepted the responsibility as a corporate citizen to make a contribution to South Africa's initiative to grow the Previously Disadvantaged Community. We have set ourselves certain goals to achieve in this role, of which one was to grow the disadvantaged community as entrepreneurs and enable them to own equity. " |
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| There is a growing challenge within the IT industry to steer away from window dressing, where black people are appointed as a front in an attempt to satisfy government's requirements. Bearing this in mind, Exponªnt have taken the initiative to turn necessity into a mutually beneficial partnership, contributing and growing the company. States Pels, "Exponªnt searched for a partner that could play an active role in growing the business and contribute to its co-shareholders. This track record jointly with Pytron, more than made sense to progress this partner / relationship to one of co-shareholding. This acquisition of equity in Exponªnt was actually a logical next step in the relationship." |
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Pytron is a 100% black owned business with its own substance. The company was created 5 years ago by the Chairman Sibusiso Maphatiane and has since grown into an entity with almost 50 employees and numerous large contracts. |
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Exponªnt is also performing well in other contributions to BEE initiatives, 40 percent of its board is black and almost 30 percent of its employees are from the Previously Disadvantaged communities. Exponªnt also has an active program assisting with the creation of black businesses and has met its target to route discretionary spending to black owned businesses; it also contributes to the development of young Previously Disadvantaged candidates and various social contribution programs.
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| Continues Pels, "We are proud of what we have achieved on the BEE front; however we no longer see this as a drive towards targets, but rather as a continuous plan to improve the lifestyles and standards for all in the country." |
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