MINNOW MAKING A SPLASH
Many South African companies have gone global but most of them have been very large-cap stocks and results have been mixed with some, like SABMiller, totally shooting the lights out while others have been a total failure, such as Discovery’s foray into the US. MiX Telematics is one of the smaller ones that has quietly gone global and succeeded in a big way. Its products are sold in 112 countries and the latest set of results shows almost 60% of revenue now annuity but most importantly is that MiX Telematics has no serious competition in the global space. As the CEO told me earlier in the month: “Really very few […] can stand head to head with us in terms of our ability to service global multinationals.” This is a huge edge as it is operating in a number of vertical markets and happy clients lead to more happy clients.