PROJECT

Projects

Summary of Proposed Investment

Project Number

10790

Company Name

Rubico Holding SA (Pty) Ltd.

Date SPI Disclosed

May 4, 2001

Country

South Africa

Industry

Telecommunications and Technology

Projected Board Date

May 22, 2001

Status

Completed

Sector

Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)

Department

TMT, Venture Capital & Funds

Environmental Category

C - No Impact

Previous Events

Approved : Jun 26, 2001
Signed : Jun 29, 2001
Invested : Jul 12, 2001

Project Description


Rubico Holding (Pty) Ltd. (Rubico) has developed component based software that is used as building blocks in the design of large corporate systems including HR, payroll, general ledger accounting, e-commerce, inventory management, etc. Rubico’s technology targets primarily the financial services industry, which, because of its dynamics, mission critical data and diversity of products and methods, is best served by a component-based approach. The component based technology that Rubico has developed allows customization of software to business needs to be quick and economical and further enhancements effortless. The company has two streams of revenues: product sales and consulting revenues. The IFC investment will help Rubico (a) obtain other financing from local and foreign investors, (b) assist the company in accessing the US and West European market, (c) provide assurances to VAR partners and clients that the company will survive and continue to provide products and support in the future, (d) will allow Rubico to develop its international sales channels.

It is anticipated that a successful investment in Rubico will: (i) prove that South Africa can develop world-class technologies, (ii) help in increasing VC interest in South African IT market, (iii) help increase employment opportunities in South Africa.

Sponsor / Cost / Location

Development Impact