Zimbabwe’s Tano Acquires Control of JSE-listed Altron
Altron is a Johannesburg Stock Exchange (JSC)-listed company with a market capitalisation of close to R4 billion.
Zimbabwe's Tano Digital Solutions Group has acquired control of South African-headquartered IT company, Altron Botswana and Altron Mozambique.
The move has set the information technology communication company on a trajectory to become one of the biggest tech companies in the region.
Wallen Mangere, Tano managing director, commended the recent acquisitions, saying the move aligned with the company’s vision of expansion in Sub Sahara. Tano acquired Altron Botswana and Mozambique in November last year with the company’s turn over after the move is expected to be over half a billion rand.
“Tano took over the Botswana and Mozambique business on 1 November 2022 after approval by the competition authorities in both countries.”
Altron is a Johannesburg Stock Exchange (JSE)-listed company with a market capitalisation of close to R4 billion and is one of the largest technology companies in Africa with a direct presence in South Africa, the Middle East and Europe.
Altron provides innovative solutions across a range of verticals, which address challenges facing communities in South Africa and beyond. Mangere said:
“The takeover of Altron gives Tano regional presence. It also gives Tano a strong presence in the financial services sector, especially in Botswana and Mozambique where all the major banks are now our customers.
“The acquisition brings new product offerings in the form of various OEM partnerships like Oracle NCR, CISCO, XEROX. Tano immediately becomes one of the larger IT companies in the region.”
As part of the 2023 strategy, Mangere said they have now turned their attention to East and Central Africa.
“Our desire is to be a regional technology powerhouse as we continue to grow and enter new markets. We are currently looking at two or three other acquisitions in East and Central Africa as we pursue our expansion ambitions. We hope we will be in three additional markets by the end of 2023.”
The group’s finance director, Tanaka Pasipanodya, added that,
“The wealth of experience that resides in our staff and management has been key to the success of our organisation.”
Tano Digital Solutions Group is a wholly Zimbabwean-owned and managed company.
