DURBAN: JSE-listed ICT company Adapt IT has cast its eyes outside South Africa to realise its growth potential as the country struggles with low economic growth.
Chief executive Sbu Shabalala says diversifying in these difficult times is the best way for the group to maintain its growth momentum.
“The market has been tough in South Africa and we have looked beyond our borders for opportunities, to markets where growth is better than ours.
“We see the potential in East Africa and we have entered the markets in Kenya and in the West with Nigeria.
“There is definitely a market for our software and there is a huge demand,” Shabalala said.
Adapt IT announced the acquisition of the Conor Group in a transaction worth R80 million to strengthen the Adapt IT Telecoms solutions division at the beginning of the week.
“This acquisition is important for the group and it is a business that has been doing well in the telecoms space. It has groundbreaking technology in the area of financial technology.