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East Africa is Altech's 'growth engine'
According to Business Report, Craig Venter, chief executive of the JSE-listed Allied Technologies' (Altech) says that Altech operations in east Africa are poised to contribute to a third of its parent company's annual earnings. Altech focuses on telecommunications, multi-media and Information technology (TMT) industries.
Speaking at the official launch of Altech Kenya Data Networks (Altech KDN), Venter said, "The key thing for us here is the economies are growing, the political environment is stable and Kenya [is advanced as an ICT environment.]" He added that Altech views east Africa "as growth engine for our company."
Venter's support the region despite receiving a flood of criticism from investors for the unit's dismal performance during Altech's 2010/2011 financial year. He blamed poor management and said the unit's managing team was replaced with South African information technology (IT) stalwarts. Altech is so confident in the growth of ICT in east Africa that it has committed an additional $20 million capital investment over the next three years in its data centre, Altech KDN. The facility is said to be the first dedicated data centre in Kenya, with hosted clients from Kenya and neighbouring countries Tanzania, Rwanda, Uganda and Burundi.
Read the full article at www.iol.co.za.
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