Pan African Capital purchases share in XLink

Anton Leal, CEO of XLink, is delighted to have Pan African on board as a shareholder, as XLink's improved BEE accreditation status, now a level four contributor, will facilitate active targeting of government and parastatal opportunities in the machine-to-machine (M2M) market sector.

Says Zuko Kubukeli, CEO of Pan-African Private Equity Fund, "Our investment strategy is to partner with like-minded, entrepreneurial owners and managers of niche, high IP businesses. In XLink we believe we have found that combination and are excited about the prospects that lie ahead for XLink."

Pan African also looks forward to being part of a fast growing machine to machine market, in which the added value services within the M2M market space is experiencing an estimated annualised growth rate of 43% according to ABI Research.

The new shareholding position will be such that the shareholders in XLink include Vodacom Ventures with 54%, Pan African with 25,1% and XLink Management the remainder.