shares. As recently as this week, the company snapped up a further R37.5-million worth of the shares, bringing the total acquired since June to more than R72-million., which is chaired by Antony Ball, the co-founder and former CEO of investment firm Brait.
VCP had been set up just months before investing in Altron by Ball and his business partner, Sam Sithole On Thursday, Ngara told TechCentral that in the past six years, VCP has worked with Altron management and the board to refocus the portfolio, drive earnings growth and maintain a strong balance sheet. One of the big wins was the de-merger and listing of Bytes Technology Group in 2020 in London and Johannesburg. That business, extracted from Altron, now has a market value eight times its former parent’s .
He said having experienced investors such as Ball and Ngara on the board, together with their active involvement in the business, has enhanced the board’s expertise.“As Altron executes on its strategy to become the leading platform and IT services business in our chosen markets, we continue to see momentum as each business delivers on its target operating models,” Kapp said.