Zimbabwe State-Owned Zarnet Acquires Sap Provider

THE state-owned Internet service provider, Zarnet has acquired a majority shareholding in local software company Portnet Software.

In a statement on Monday, September 7, 2015, Zarnet said the acquisition would see Portnet Software become the preferred provider of System Applications Products (SAP) solutions to government,including all parastatals and State-owned enterprises “and offer much needed competition in the private sector”.

Zarnet falls under the Ministry of Information Communication Technology, Postal and Courier Services led by Supa Mandiwanzira.

“The acquisition allows government to retain skills and jobs locally while curtailing the outflows of revenue which happens when it secures services from foreign-owned companies,” said the statement.

The acquisition of 51 percent shareholding in the software company would provide government with an alternative provider of SAP solutions and services and counters the dominance of foreign owned SAP providers in the country.

Portnet Software was established in 2005 and provides the full range of SAP software services and solutions in Zimbabwe and across Africa. It has been involved in significant SAP projects in Zimbabwe (including the Public Finance Management System) and other African countries including Nigeria and Kenya. Source: Bloomberg