Globetom Concludes Black Economic Empowerment Transaction

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Centurion-based software developer and systems integrator Globetom today announced the conclusion of a transaction through which the company has become a black-owned enterprise.

The transaction has the effect that 51% of the company will be owned by black entrepreneurs which effectively transforms the business to a black-owned enterprise.

Business icon Don Ncube and Bheki Nkomo are the main investors in the business. Don is effectively the chairman of the Globetom board with immediate effect. Don brings years of business experience to Globetom and has held key investments in organisations such as Real Africa Holdings, PQ Africa and directorships in several blue chip organisations.

Bheki Nkomo has been appointed as CEO of Globetom with immediate effect. Bheki has held several leadership positions in the ICT field with companies such as PQ Africa, arivia.kom and UUNET and holds other diversified investments.

“We are extremely pleased to have been able to attract leaders of the quality of Don and Bheki to our business” says Philip Stander, new CTO, co-founder of Globetom and outgoing MD. “The founding shareholders of Globetom have always had a strong technology innovation focus and the new business structure will entrench the ability of the business to continue to distinguish itself by delivering value to the economy by means of developing innovative solutions in the ICT sector”.

“As a result of the transaction, 40% of the shareholding in Globetom will be retained by the founders and 9% by employees through an employee share trust ensuring positive participation in contributing to the growth of the business,” says Don Ncube, Globetom chairman. “We firmly believe that this transaction will position Globetom for sustainable growth over the next few years and bring the convergence challenges as real opportunities”.

Nkomo, newly appointed CEO, adds that while Globetom has been a prolific behind-the-curtain organisation, the company has an impressive client list in the telecommunications industry and has built world-class products and solutions used in mission-critical environments. “Our initial challenge will be to elevate the presence of the company in order to extend the already impressive customer list of Globetom,” adds Nkomo.

“With our strong open-source development capability, coupled with a very sound software engineering factory and key partnerships already in place, Globetom is poised for growth in the delivery of innovative solutions to the local and international markets both in the telecommunication and large critical mission enterprise environments,” says Nkomo.

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