Local electronics giant, Altech, has increased its shareholding in Namibia-based Altech Namitech to 72%.
Altech has acquired the 11% stake that German smartcard firm Giesecke & Devrient (G&D) held in the company.
The remaining 28% of Altech Namitech remains in the hands of Altech's BEE partner, Pamodzi.
"We have enjoyed a successful long-term relationship with G&D, who have consistently contributed to Altech NamItech's technology growth," says Altech chief executive, Craig Venter. "One of the fundamental reasons for this partnership has always been technology transfer from one of the world's premier smartcard companies to Altech NamItech."
Altech NamItech recently established operations in Nigeria to cater for the West African ICT sector. Currently, it supplies more than 55-million cellular pre-paid top-up vouchers a month to five major cellular operators based in the region.