EOH welcomes stimulus plan
Ramaphosa’s infrastructure drive fits in with the technology group and could lift the economy, says management
President Cyril Ramaphosa’s stimulus package could be a boon to technology group EOH and the South African economy as a whole, EOH’s management said on Wednesday. With the economy in recession for the first time since 2009, Ramaphosa announced a R400bn infrastructure fund and a shift in state spending towards health, education, municipal infrastructure and other "high impact" areas. EOH’s new group CEO Stephen van Coller, who joined the company from MTN in September, said the infrastructure drive "fits squarely into where we play". The company’s new Nextec unit, a product of the group’s split in two, focuses on applying technology to industries such as health, water, energy and transport, which are included in the infrastructure plan. The group’s other unit, which is the same size by revenue, focuses on information and communications technology. Nextec head Zunaid Mayet, who relinquished the group CEO role in favour of Van Coller, said the stimulus package could lift business confid...
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