Business Connexion to target African growth
Business Connexion (BCX) CEO, Benjamin Mophatlane says that investments in Africa are beginning to pay off, having attained profitability for the first time.
On Thursday (April 19, 2012) the information communications technology (ICT) group, reported on Thursday a 43.5% rise in revenue for the six months ended February 2012.
Revenue improved to R2.69 billion from R1.87 billion before, while operating profit increased from R40.2 million to R130.8 million.
Mophatlane said that Business Connexion would focus on growth in Africa, convergence, the cloud and consolidation strategies going forward.
Business Connexion boasts operations in Ghana, Nigeria, Tanzania, Namibia, Mozambique, Kenya and Zambia. Operating profit for the international division climbed to R5.3 million, from a prior loss of R3 million before and an overall loss of R7.8 million in 2011.
“The pipeline in Africa is healthy, it’s the first time that the international operation has made a profit,” Mophatlane said. He highlighted a significant $20 million public sector deal in Ghana, adding that the group had also started to win business in Nigeria, “a key market”.
The company lead described Mozambique as the ‘best kept secret in Sub-Saharan Africa’ with Business Connexion having resigned a contract with mining giant Rio Tinto there.
Mophatlane said that the ICT group would continue to invest in Kenya with a number of ‘significant’ deals expected soon. “The international division is in the best health it’s been for a very long time,” Mophatlane said.
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