South African billionaire Stephen Saad-backed DNI to invest $130 million in tech firms     

South African investment company DN Invest, backed by billionaire Stephen Saad and other prominent businessmen, plans to invest R2.1 billion (approximately $130 million) in technology companies over the next three years as it seeks to double the size of the group, Chief Executive Officer Ryan Noach said. 

The Johannesburg-based company generates more than R12 billion ($736.7 million) in annual revenue and largely finances its acquisitions with its own resources. Its shareholders include Saad, the founder and CEO of Aspen Pharmacare, and South African businessman Mike Teke, among its owners.

DNI targets four technology businesses 

DNI plans to invest in KnowRoaming, Mission Mobile, Frogfoot Networks and Vox Telecom SA, adding to a portfolio of about 25 businesses, Noach said in an interview. 

The deals will broaden DNI’s exposure to telecommunications and technology, with the businesses spanning fiber infrastructure, mobile devices and eSIM services. 

Frogfoot and Vox provide connectivity and telecommunications services, while Mission Mobile focuses on affordable access to mobile devices and KnowRoaming operates in the eSIM and global connectivity market. 

The investments fit DNI’s approach of backing founder-led businesses with specialist knowledge of their markets while providing capital and support to help them expand. 

“Access to digital technology increasingly determines access to opportunity,” Noach said. “Whether it is broadband connectivity, smartphone ownership or global mobility, our goal is to help more people participate fully in the digital economy.” 

He said DNI will continue to look for opportunities as it expands its technology businesses. “There is more coming,” Noach said.

Growth extends beyond South Africa 

About 85% of DNI’s revenue comes from South Africa, but the company operates in more than 35 countries, including markets elsewhere in Africa, Brazil, Pakistan and Australia. 

Its digital ecosystem, which includes technology businesses outside its distribution operations, generates about 65% of earnings outside South Africa. 

Founded in 2006 by Andrew Dunn, DNI began as a procurement business helping large corporations reduce costs and improve supply chains. It has since grown into a diversified investment company focused mainly on business-to-business distribution and technology-related services. 

The group employs more than 1,100 people across its businesses and operates through four main segments, with telecommunications and retail among its key areas. 

DNI has also expanded by building businesses internally and acquiring brands, creating a broader network of services for corporate clients and consumers.

Stephen Saad and Mike Teke are among DNI’s shareholders, alongside investors including Sabvest Capital, Mineworkers Investment Company and RMB.