EOH plans aggressive expansion in Africa
Listed ICT company EOH says it has acquired the majority stake in six companies across Africa to aid its “aggressive” expansion plans on the continent.
In an announcement on SENS on Tuesday, EOH said it has concluded the acquisition of 50% or more of the following businesses:
- Consol Systems – Morocco
- BC Skills – Morocco
- Acron – Turkey
- Cozumevi – Turkey
- Acron – Iran
- EBS – Mozambique
All the businesses will sit in the EOH ICT Division, the group said.
“The Acquisitions will serve as a base for EOH to grow aggressively in these territories, both organically and through further acquisitions, by providing EOH’s vast range of service offerings which are all relevant to these economies,” the company said.
“In addition, we have set up offices in the United Arab Emirates (UAE) aimed at serving the region.”
EOH now has over 1 000 employees based outside of South Africa.
The company’s growth for the six month period to 31 January 2016 is expected to again be positive with significant year-on-year growth in revenue, profit and Headline Earning Per Share (HEPS).
EOH’s interim results will be published in March.
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