Cellular technology company gains a new shareholder and expands its operations

Ian Harrison, Psitek MD: up-beat on the new shareholder agreement.

Psitek South Africa is a subsidiary of Psitek (Pty) Ltd, which is currently operating in Africa, Asia Pacific, the Middle East and Latin America. With 17 years of experience in previously under-serviced markets, the company has built up an in-depth understanding of these market conditions and needs.

Regiments Capital is a Black-owned investment banking boutique, which deals in specialist fund management and proprietary investment, as well as in a general financial advisory capacity. It was founded by Litha Nyhonyha, in conjunction with five other investment bankers, in 2004. Integral to this development is the appointment of Nyhonyha to the Psitek South Africa Board.

“We believe that our financial approach and Psitek's technological solutions complement one another,” Nyhonyha says.

Ian Harrison, Psitek MD, comments. “As Regiments' financial services perspective is different from Psitek's technological perspective, we expect Regiments' financial insights into the South African market to add value to Psitek.”

Kazang generates new revenue streams

With a strong product development capability, the company is focusing on creating additional growth revenue streams from recurring-revenue business models in addition to the company's traditional business and it has entered the content and data service market, a step that has had ground-breaking implications for the company. It has since evolved from its initial focus on voice only to its current focus on both voice and data solutions. It is currently launching Kazang, an end-to-end solution aimed at taking content and data services to the South African market.

Kazang is designed to provide quick and convenient access to prepaid services. While it is currently offering electronic airtime recharge, it will in the near future roll out access to other prepaid services, such as electricity recharge, short-term insurance and legal services. The company is in negotiations with a number of companies to drive the roll out of these services.