Monday, September 21

Investec invests big, buys “large stake” in Vumatel

Vumatel and Investec are two brand names that do no go mentioned without heads being turned in South Africa. Both companies are leading in their respective fields of being providers of fibre service and other related services and specialist bank likewise.

Investec, which also serves as an asset manager, have invested into the management of Investec by acquiring a small majority of the company, buying some minority shares to effect this stakeholdership and control. In light of the recent deal, it has been revealed by Vumatel that over time, Investec has contributed significantly to the growth and success of Vumatel.

Investec invests big, buys "large stake" in Vumatel Technology: General

Speaking on the recent acquisition, Kobus Viljoen of Investec has said “We are very excited about our investment in Vumatel. We like the business and the experience of the management team. They have lead the FTTH revolution in South Africa, setting the bar for the industry in how it should be done”

Speaking further, Kobus also commented on their prospects by saying “Their commitment to creating affordable high speed open access fibrehoods through focus on customer service will have a fundamental impact on the telecommunications industry”

The CEO of Vumatel is not left out of the cycle. He also spoke on the sale. The CEO in Person of Neil Schoeman said “This partnership will furthermore assist in speeding up both transformation within the economy and changing the lives of consumers”.

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