1 March 2002

eCentric Switch is pleased to announce that it has completed a management buy-out of the Transaction Switching division from MGX Holdings.

eCentric Switch will continue to develop its transaction switching software and solutions and serve its customer base from its Rondebosch, Cape Town office .

The Switch has been under development in the MGX stable for more than three years and the entire team have moved with the buy-out to eCentric Switch.

Mike Scott , eCentric Switch Managing Director, stated that the transaction freed up the Switch to allow it to achieve its full potential. The Switch's major customer is South African Post Office and through a potential alliance with Cornastone Technology Holdings, eCentric Switch intends to build on its relationship with Post Office to target the government, parastatal and telecoms markets. Innovation and Sustainability awards evening held in Sandton last night for their ECT Biometric Project. eCentric Switch designed and developed the transaction switching solution and provides the ongoing service to the project. This included the development and systems integration from the Switch into the eCounters in the Post Office, the Social Grant beneficiaries database from the Department of Welfare, the digital certificate issued by the Trust Centre and into Post Bank for banking requests.

The social grant beneficiary walks into a post office with his ID document, and walks out less than 10 minutes later with a Pension card that contains a computer chip with his personal details including a digital certificate and a mag-stripe containing his bank account details. Thereafter the social grant beneficiary can access his cash at his leisure either at the Post Office or any Saswitch linked ATM or bank.


eCentric Switch are proud to be associated with this award winning project and believe it underscores the ability of eCentric Switch to deliver innovative transaction switching solutions on time and within budget that assist our customers to take leading positions in the market.

Two million transactions per month

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