TSS CEO, Danny Mackay said this transaction would allow TSS to play a more pro-active role in initiatives that will drive BEE and SME procurement in South Africa. "TradeWorld enables organisations to optimize their procurement processes while ensuring these improvements include providing business opportunities to emerging enterprises," said Mackay.
He added, "TradeWorld compliments our drive into providing world class IT infrastructure services, and with TradeWorld's significant critical mass and client base we believe it will continue to deliver good returns and further ensure the successful implementation of black economic empowerment within the procurement industry. Additionally, TradeWorld's growing alliance with Quadrem, the global mining and metals marketplace will assist in increasing TradeWorld international client base."
TSS believes that South Africa needs a strong information technology (IT) and SME industry to compete in the global marketplace. "We are committed to being a role model for other black businesses in the process of transformation. TradeWorld provides us with a platform that can deliver significant opportunities by bridging the procurement divide as it continues to provide procurement services to all sectors of the market," said Mackay.
Johncom CEO, Connie Molusi said the sale of the company was in line with Johncom's group strategy to focus on its core business. "Therefore we found it appropriate to exit this investment to people who can optimize its operations going forward," explained Molusi. He confirmed that Johncom would continue working with TradeWorld as a client.
Johncom
