Sbu Shabalala Steps Down as Adapt IT CEO to “Attend to Personal Matters”

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Adapt IT CEO, Sbu Shabalala has been granted a leave of absence to “attend to personal matters” following assault allegations against him by his estranged wife, Neo.

In the interim, Adapt IT CCO Tiffany Dunsdon will take Shabalala’s place. A statement from the company revealed that Shabalala would step down from his role for three months.

“Tiffany assumes the role of interim CEO as Mr Sibusiso Shabalala, the current CEO, has been granted a leave of absence for three months by the board in order to attend to personal matters.”

According to TechCentral, the developments come after “serious allegations emerged at the weekend in which Shabalala is accused of hiring armed thugs to threaten Neo’s partner, suspended eThekwini city manger Sipho Nzuza”.

Nzuza reportedly remains in intensive care at a Durban hospital following the attack.

Adapt IT to Expand Footprint in the Australasian Education Sector

Adapt IT has announced that it will acquire Kura Holdings as well as Wisenet. The acquisition will complement Adapt IT’s Education Division growth strategy and will provide Adapt IT with access to key proprietary software, customers and markets in the Australian education sector.

Wisenet is a software-based business that develops its own IP and has an annuity-based revenue model, being SaaS subscriptions, which account for 90% of total revenue. All revenue is earned outside of South Africa in hard currencies.

Edited by Jenna Delport
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