Mara Smartphones team led by Sylvester Taku ready to get back to business

As previously reported that the management buyout for Mara Phones South Africa was in full swing, the company is now working hard to resume operations.

According to the former Mara Phones SA MD, Sylvester Tau, who is part of the management buyout team, he said the journey to turn around the defunct smartphone manufacturing was not an easy route.

Media reports now suggest that the management buyout (MBO) team has successfully acquired the rights to restart operations.

ITWeb has it that Taku was part of the group that worked tirelessly to retrain its staff as they are successful in their bid to acquire the troubled smartphone maker.

The MBO team dispatched a statement to the media, indicating that the efforts were successful after a purchase agreement was completed on 29 June.

“The management buyout team’s turnaround proposal is currently under consideration with the lenders, and we strongly believe that our proposition will herald a new era for our local smart devices manufacturer,” Taku said in a statement.

“Our intention is to re-start operations in Durban as soon as possible, with our valued and loyal staff, and build a proudly South African smart devices company together, with local ownership and leadership at the helm, and a dedicated and skilled local workforce. We are confident that 2022 will be one of renewal, growth, and success.”

Standard Bank and the Industrial Development Corporation (IDC) forked out a staggering R100 million and R238 million respectively, to fund the Mara Phones factory.

However, reports surfaced last week that the smartphone manufacturing plant was empty and on auction, with the sale mandated by Standard Bank and the IDC.

Having worked with Taku, Mabuti Radebe, added that they are committed to playing a pivotal role in rebuilding in Durban.

“After having worked with Tshepo Mahloele, chairman and founder of Lebashe Investment Group, and his team to save jobs and create new employment,” he added.

“Build-out and expand the smart products business, we are committed to being an integral part of rebuilding in Durban and surrounding areas after the floods and the July unrest.

“Lebashe is a perfect fit for our vision as they understand the challenges faced by African South African entrepreneurs.”

As part of their primary aim, the team hopes to place Africa as a world-class manufacturing hub of high-tech products.

Image source: ITWeb