Metalgalante S.p.A.
MSC Mediterranean Shipping Company
CAF Data Centre Industry Outlook
Car Mix

twitter Facebook Linkedin acp Contact Us

BTS sells 51 per cent of AvoVision community business to South African Investors

BTS received 2017 Gold and Silver Stevie Awards for Digital Tools Pulse and Changr in June 2017. (Image source: BTS)

BTS, a leading global strategy implementation firm, has sold 51 percent of AvoVision community business to three South African investors for a total of ZAR 1.5mn (US$0.12mn)

AvoVision of South Africa, which was acquired by BTS in March 2015, has two offers; consumer and financial literacy education in disadvantaged communities and AvoVision Corporate, which continues to be fully integrated into the BTS structure and brand. The transaction will have negligible impact on revenue and profitability on group level.

Avo community business represented approximately ZAR 9.8mn (US$0.76mn) or 18 per cent of the total BTS business in South Africa 2016. The community business is now 51 per cent owned by previously disadvantaged individuals while BTS will remain a significant shareholder with 49 perc ent. BTS will retain ownership of intellectual property it has contributed to the Avo community business, while Avo community retains ownership of community specific solutions and IP.

During 2015, significant changes were made to the Broad Based Black Economic Empowerment (BBBEE) legislation in South Africa necessitating a review of BTS investment in AvoVision. Black economic empowerment which seeks to deracialise the economy and broaden economic empowerment is a social transformation and legal reality. The latest revision place greater emphasis on compliance in business ownership and management to meet the BBBEE standards. Furthermore, the market, in response to the requirements of BBBEE places a premium on existing contracts to comply with the new requirements and thus BTS/AvoVision is now positioned to take strategic advantage of this change in the operating environment.

"I'm glad that we were able to find a way to benefit both locally owned businesses in line with requirements for AvoVision and BTS South Africa to remain competitive in value-adding to their clients. The new co-shareholders in AvoVision have a good track record in our industry that will help open up n ew market opportunities for both of us," says Henrik Ekelund, founder and CEO of BTS Group.

"Our goal for AvoVision is to not only ensure compliance with the BBBEE codes but also to leverage AvoVision's history and ability to scale up services in markets we currently operate in more aggressively and profitably. The strategic link to BTS through AvoVision is an important institutional and international brand we are proud to associate with and look forward to unlocking synergies from this transaction," says Henry Sebata who is buying a 40 per cent stake together with his partner Neil Campher through their company CS Business Innovations.

"Avo welcomes the experience and insight by Campher and Sebata as well as Raelene Clarke, an established entrepreneur and CEO of SpringAge consultancy, who has acquired the remaining 11 per cent," says Jules Newton, founder of Avo, and adds "We have a solid history of working with Henry, Neil and Raelene across different spheres and this transaction makes sense as it's built on common values and understanding of the market and the opportunities to contribute to South Africa's socio-economic conditions."

African Review

Most Read

The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)

GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)

The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)

The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)

ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)

Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)

Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)

The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)

The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)

Although displaying resilience, the report warns that African banks remain exposed to physical climate risks due to both sovereign and industry lending. (Image source: Adobe Stock)

WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)

IVECO is renewing its entire product range, all at once. (Image source: IVECO)

Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)

The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)

There has been a focus on the sugar industry. (Image source: Adobe Stock)

Latest news

Dietmar Siersdorfer speaking at Africa Energy Forum in Barcelona. (Image source: Siemens Energy)

The generator set fitted with a Perkins 1103 is providing vital backup power at the St Patrick School in Uganda. (Image source: Perkins)

5G technology deployment will take place later this year. (Image source: Adobe Stock)

Spiro will draw from its experience in Kenya, Benin, Togo, Rwanda and Nigeria as it launched in Uganda. (Image source: Spiro)

According to IRENA, concrete policy actions and massive mobilisation of finance at full speed is required in order to meet the 2030 target. (Image source: Adobe Stock)

The distributor will hold specialised training and empowerment sessions to enable its channel network to effectively deliver Vertiv’s portfolio, as well as managing inventory to serve the market. (Image source: Vertiv)

The HQ is expected to be completed and handed over by February 2025. (Image source: ECOWAS)

Africa’s share of global manufacturing only sits at around 2% today. (Image source: Adobe Stock)

There are numerous but not insurmountable challenges facing Africa's aviation sector, according to IATA. (Image source: Adobe Stock)

Africa Energy Forum 2024 was held in the Fira de Montjuïc in Barcelona. (Image source: ACP)

The quality design and manufacture of SEW-EURODRIVE South Africa’s panels and enclosures can be suited to any customer requirement wall mounts. (Image source: SEW-EURODRIVE)

African countries will require over US$45bn in the coming eight years to plug the gap in its transmission systems. (Image source: Synergy Consulting)

BII commits US$75mn to second Green Basket Bond with Symbiotics Investments to finance small-scale green projects in Africa, South, and South-East Asia. (Image source:

Transforming Africa's digital economy: Data Centres powering growth, innovation, and sustainability in the digital era. (Image source: Adobe Stock)

The Linnhoff TSD1500 Asphalt Mixing Plant is undertaking crucial work on two rural road projects in Kenya. (Image source: Lintec & Linnhoff)

Genset BuyersGuide
Construction Buyers Guide