Micromega Holdings Limited - Introducing Black Eco
MICROmega Holdings Limited ("MICROmega") - Introducing Black Economic
Empowerment.
The Board of MICROmega is pleased to announce the introduction of Kopano
Utilities (Pty) Ltd ("Kopano") as a 50% shareholder in their Public Sector
revenue management services company namely, MICROmega Revenue Management
Services (Pty) Ltd ("MRMS").
Kopano is a subsidiary of Kopano Ke Matla Investment Company (Pty) Ltd the
investment company of COSATU. In conjunction with their investment in MRMS
Kopano have appointed three members of their Board to the Board of MRMS
namely Collin Matjila, Mollo Ramollo and Ivor Izaacs.
"We believe the introduction of Kopano as a shareholder in MRMS together
with the experience they will contribute to the business is important in
ensuring sustainable market penetration and the organic earnings growth we
expect from services that will be introduced into the current client base,"
stated Greg Morris of MICROmega.
MICROmega currently employs 460 people of which 360 are directly involved in
the provision of revenue management services to more than 50 Local
Authorities in South Africa. These services are provided under service level
agreements where the fees are predetermined and fixed over the term of the
contract. The introduction of the services provided by MRMS strategically
positions MICROmega as the dominant provider of revenue services in Public
Sector South Africa and has allowed MICROmega in a relatively short period
of time (some 12 months) to demonstrate their value adding capability in
this market sector. This well entrenched client base is receiving a service
high on the priority list of both Central and Provincial Government and
affords MICROmega the opportunity to introduce finance and treasury risk
management services into clients which have already identified the need for
improved revenue generation before they can access the capital and money
markets at competitive prices.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
