EOH is spreading its wings further into Africa with the acquisition of equity stakes of between 49% and 80% – depending on the country – of Twenty Third Century Systems (TTCS) and its subsidiaries.
The value of the deal has not been disclosed, but the acquisition falls below the threshold of a categorised transaction in terms of the Listings Requirements of the JSE.
TTCS is an award-winning Pan-African IT applications and business solutions provider, founded in 1996 by Ellman Chanakira, and focused on implementing business solutions and IT infrastructure across Africa and the Middle East. It operates in both the private and public sector, including the social security, tax and revenue collecting agencies. It has implemented solutions in a number of large mining and manufacturing enterprises and has developed proprietary solutions for key Government departments and agencies.
“TTCS will significantly augment our Pan-African growth plans and support EOH’s purpose of providing technology, knowledge, skills and organisational ability, critical to Africa’s development and growth,” says EOH Group CEO, Asher Bohbot. “The joining of these two successful businesses is exciting and provides a perfect platform for our African Growth strategy that will accelerate in the years ahead.”
TTCS brings to the EOH Group a complement of over 400 diverse, highly-skilled IT experts in finance, logistics, human capital management, analytics, mobility, cloud and database technologies and provides solutions across the spectrum. Its operations are underpinned by timely and effective systems integration, product delivery, maintenance and support.
TTCS has offices in Zimbabwe, Zambia, Malawi, Kenya, Uganda, Rwanda, Botswana and Nigeria and projects in several other countries including Ghana, Namibia, Tanzania and Cameroon.
According to Ellman Chanakira, Group CEO of TTCS: “EOH is a natural home for TTCS, spurred on by EOH’s passion for Africa and innovation, coupled with a collaborative and entrepreneurial culture, focused on creating jobs, building skills, as well as providing knowledge services across the continent,” says Chanakira.