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Wednesday, March 26, 2008

Zinox to acquire 3 IT firms, injects N3.5bn

Shareholders of Zinox Technologies Group, at the weekend, approved the injection of N3.5 billion to position the company better for competition, just as Zinox advanced strategies to acquire three local Information Technology (IT) firms with core interest in computer manufacturing.

Zinox Technologies is owned by STAN Technologies of Nigeria, Mustek of South Africa manufacturers of South Africa, Kenyan and Zambia No.1 brand MECER Computers and Alhaner Ventures of France, a major telecom facility company with extensive interest in Europe and Africa.

Confirming this, the group’s corporate affairs manager, Mr. Echika Ezuka said that the latest fund injection is to truly position the company as the number one among its competitors if there is any on the continent.

He also said that this decision to inject new fund into Zinox was taken at the board’s last meeting towards the end of 2007, and confirmed last week in accordance with the promise made to stakeholders by the founding fathers of Zinox Technologies during its launch in 2001.

He explained that the additional capital was necessitated by the need to expand its programme, which includes the planned acquisition of majority shares in some three local computer firms.

“That will add value to our present network of branches both locally and internationally in order to serve our customers better, reduce the total cost of ownership of ICT products and fast track us to our desired destination,” he told newsmen during a briefing in Lagos, stressing that Zinox is expanding its offices and support network to 20 before the end of this year.

This, Mr. Ezuka noted would add value in Zinox desire to deploy world class infrastructure that will sustain the firm’s position as the number one brand.

Presently, he said that Zinox is committed to building the largest computer assembling plant on the continent located in Lagos, Nigeria.

“When completed, this shall increase our plant output by over 500 per cent and shall resolve some digital interfaces faster and accurately. We shall soon relocate to a more spacious office with mean high-tech facilities possibly the first of its kind on this side of the Atlantic,” he said.

Adding that Zinox group is investing heavily on human capital that will drive this growth explaining that this must be incubated over a minimum period of nine months.

“We have just hired over 40 new graduates for the first phase and they are all Nigerians,” he said, revealing that this was a prelude to Zinox plan to launch the largest software company on the continent.

“We intend to launch possibly the largest software,” he asserted, clarifying that Zinox is partnering with both African and Asian companies to ensure this happens between the end of next year, 2009 and first quarter of 2010.

As said by Echika, Zinox is set to launch an interest-free computer ownership scheme in the country and Ghana, pointing out that after the successful launch of Zinox Student Computer Ownership Project (ZSCOP) and the current Computer Discount scheme partly financed by a Nigerian philanthropist, few foreign interests have approached Zinox to use its credible platform to really test the reliability of the Nigerian and Ghanaian consumers when they purchase items on credit.

Champion Infotel recalls that recent market study in the West African region by the United States-based International Data Corporation (IDC) rated Zinox Computers as being neck-to-neck with Hewlett Packard (HP).

Zinox, however, reaffirmed its position as the only Microsoft certified Original Equipment Manufacturer (OEM) partner in West Africa and the largest Intel Corporation partner in sub-Saharan Africa.

Also speaking weekend at the end of Zinox board meeting in Lagos, Chairman, Mustek South Africa, Mr. David Khan, restated confidence in the Nigerian market and paid tribute to chairman, Zinox Technologies, Dr. Leo Stan Ekeh for taken the franchise beyond all expectation in such a short period with a passion.

“I would say wait for another 12 months to really appreciate his road map. Stan is one gentleman you must trust because his focus is not just on money but rather building a knowledge driven Nigerian economy and we all support him and hope your government will support him to change the face of Nigeria because that is his passion,” Mr. Khan declared.

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