Johannesburg Stock Exchange (JSE) listed software provider, Adapt IT, acquired 49% of Uyandiswa, a start-up project management consultancy based in Johannesburg, in 2014.
Sbu Shabalala, CEO of Adapt IT, announced during the company’s recent annual results presentation that the programme has proven successful and has borne the fruits it had set out to achieve; to support and help small black-owned businesses to grow and thrive.
Uyandiswa would be independent of Adapt IT, with Amanda Dambuza, its founder and CEO, buying back the 49% at a deep discount, concluding a successful three-year enterprise development programme during which Adapt IT took the project management fledging, then a two-person business, helping Dambuza to build it into an 80 person-strong firm with a turnover nearing R100 million.
Additionally, Adapt IT said that ts Business Intelligence (BI) resourcing division now falls within the Uyandiswa stable, in a transaction fully funded by Adapt IT.
“This gives the company a particular edge in the niche areas within which it operates in. Our offering has been bolstered and we can continue to be a trusted partner to our clients through agile solutions that deliver tangible results and meaningful data enabling better and faster decision making,” said Dambuza.
Uyandiswa’s footprint presently spans South Africa and Botswana, with a focus on the financial services, fast moving consumer goods (FMCG) and healthcare sectors.