Introduction
Since the founding of Cylon Technology in 2002 we have achieved international recognition from Microsoft for building an outstanding e-procurement solution. Our focus has been on identifying business needs of leading companies and providing best of breed products within the Spend Management space. We recognised an insurance market need within the claims procurement area and identified Upside Software & Castek Software as leading solutions to the challenges currently faced by the dynamically changing insurance industry. We are working with leading companies to significantly increasing their competitive advantage by delivering business solutions through best of breed solutions. As a Microsoft Certified Partner we are working closely together on Insurance specific solution set and aim to become one of Microsoft’s preferred ISV vendors for Insurance Applications.
As a result of the partnership between Cylon and Webcom we can now offer a comprehensive range of products and services to our clients.
Overview
Cylon Technology (Pty) Ltd is a focused eCommerce solution provider. This focus is on providing solutions against specific business requirements and in particular to compliment the existing investments organisations already have. We leverage experience and knowledge gained from the local market and the wealth of experience through our majority shareholder Sakhumnotho Investment Services which is a division of Sakhumnotho Group Holdings (Pty) Ltd.
Cylon’s founders Mike van Niekerk and Paul Briggs collectively have 48 years of experience in the ICT industry. Through the years they have worked with JSE (Johannesburg Stock Exchange), Bank Serve, Mohawk Data Sciences, Siemens, Mobile(Engen), Unexcor, Platinum and CA (Computer Associates).
Sipho Mseleku - Chairman
Paul Briggs - Chief Executive Officer
Alice Mothiba - Director
Mike van Niekerk - Director Sales and Marketing
Wynand Goosen - Director Finance
Thomas Tau - non-Executive Director
Ownership
Cylon Technology has three shareholders - Sakhumnotho Investment Services (Pty) Ltd (BEE partner), van Niekerk Trust and Briggs Trust.
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Sakhumnotho Group Holdings (Proprietary) Limited was founded in late 2000 by a group of four black professionals with experience and expertise in financial services, legal services, merchant and investment banking. The company initially focused on corporate advisory services and consulting, focusing mainly on structuring black empowerment transactions, valuations, due diligence, capital raising and documentation. Sakhumnotho has been involved in giving advisory services in a number of transactions, which include, amongst other, the following:
- Advised a black economic empowerment (“BEE”) consortium for the acquisition of an equity stake in Autopax passenger services, a subsidiary of Transnet;
- Advised on Komatieland Transaction, Government Forestry Assets in Mpumalanga and Limpopo;
- Advised NAFCOC in respect of the establishment of the NAFCOC SMME Development Fund.
Since the establishment of the company, it has expanded its business to focus on financial services, mining, properties and strategic investments. The diagram above indicates the scope of Sakhumnotho Group Holdings through the divisions. A detailed group and shareholding structure is attached to this document.
The Sakhumnotho Group’s Non-Executive Chairman is Mr. Sipho Mseleku, the current Chief Executive Officer of the Chambers of Commerce South Africa (“CHAMSA”). Sipho is also the Chief Coordinator for the establishment of the Continental Chamber of Commerce and Industry as well as the coordinator of the SADC Chamber. Through these positions Mr. Mseleku has developed an extensive network with senior business executives and government officials throughout the African continent. He was also instrumental in the negotiations with large parastatals and local banks to put aside 50% of their procurement spend to BEE companies, currently the value of which exceeds R20Bln. Sakhumnotho has thus far exclusively been funded by its active shareholders. Due to a conservative approach towards debt funding, a very lean and mean head office structure was created. Through the ingenious use of technology the company has the ability to manage its investment and add value to its subsidiaries.
As part of the Sakhumnotho Group’s commitment to broad-based economic empowerment, it has placed 10% of its equity in a trust to benefit schools, children’s homes and churches in previously disadvantaged communities. Each beneficiary is represented by a principal or reverend as trustee, Sakhumnotho is also represented here to ensure that the benefits reach the beneficiaries on the ground.
The current beneficiaries are as follows:
- Fumana High School
- Alafang High School
- Thulisa Primary High School
- Kwa-Dukathole High School
- Izibuko Primary School
- Grace Bible Church
- African Gospel Church
- SOS Children’s Home Mamelodi
- Fire Tabernacle Church
- Rivers of Living Water Ministries
Sakhumnotho has signed Memorandums of Understanding with various Black Economic Empowered Companies to further enhance the broad based empowerment profile of the group in certain large investment transactions. A similar arrangement was put in place between itself and businessmen of the Democratic Republic of Congo to increase the Group’s footprint on the African continent. It is the Board’s intention to further create strategic alliances throughout the continent as we believe in President Mbeki’s vision that this is the African century.
Groups Vision
Sakhumnotho Group Holdings aims to become a leading, credible and trusted black economic empowerment company that will add value to all its shareholders, partners, employees and the community. The company aims to play an important and significant role in advancing black economic empowerment through the creation of a sustainable and competitive group of companies. The Group’s long term focus is Africa as it believes and is committed to the current International African development initiative. Sakhumnotho aims to involve all its stakeholders on this African development path. Mission
Sakhumnotho Group Holding’s mission is to identify investment opportunities with both strong short-term revenue generation and long term capital appreciation. The core of the Sakhumnotho Group’s businesses is the transfer of skills, the advancement of previously disadvantaged individuals and the support of black business. This is done through targeted community involvement and procurement initiatives.
Investments should benefit from the vast business and political network that the Group has throughout Africa. Furthermore investment opportunities that have synergies with existing companies inside of the group will receive preference. This will unlock added value and a more productive use of resources.
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