Mteto Nyati buys 40% share of financial consulting firm BSG

Former CEO for MTN and disruptive-thinker Mteto Nyati, known for investing in unlisted medium-sized companies through his company Wazo Investments, has recently purchased a 40% share in consulting firm, Business Systems Group (BSG).

He also takes on the role as the company’s new chair. Nyati – who just weeks ago grabbed headlines for his controversial views on empowerment in Eskom – plans to use his skills and connections from his years in the telcos industry to help scale business impact and grow its market share.

But who is BSG and what is its current market share?

Currently, BSG does not have much of a market share – it’s at about a mid-single digit – at least not much to report on. It is a South African based medium-sized consulting firm, with only 160 people in the company.

It provides consulting services to clients in the financial and banking industry and in the health services. It has been around for 25 years.  

But it is what the company does that seems to have attracted the attention of the investor-mogul.

By combining a business’ data and insights with intelligent technologies, these consultants help their clients to measure metrics within their operations that they never thought was possible to measure before and thereby formulate new ways of operating.

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“We essentially help businesses to use data that they already have and to get value out of that data. We described it in terms of insights because an insight is data taken to the next level, where it allows you to make a better decision, take better action,” explained company CEO Jurie Schoeman.

This has revolutionised both the banking and health services industry.

Nyati believes that BSG’s technologies can be adopted to the telcos, retail, as well as the mining, oil and gas industries, offering the same sort of revolutionary result.

Nyati’s plan to expand across territories

Currently, as a South African company, BSG has a considerable foundation in the local market and a bit in the UK. Nyati wants to grow this into more international markets.

“We are strong in financial services and in the health space – because what this company does is so unique and bespoke to their strategies. And so, we see opportunities for BSG to grow internationally.

“BSG has a major differentiator that sets it apart from other businesses in a similar line around the world – it actually helps its clients to implement strategy. We’ve found that one of the biggest weaknesses in South Africa, is translating a strategy into reality and that’s what BSG is strong in. It is likely international companies are seeing the same gap. It’s something we can fill,” Nyati explained.

Leadership – Nyati collaborates with Schoeman

Nyati and Schoeman seem to be disruptive-thinking CEOs of their time – both thinking well beyond the perimeters of the box to ensure both company efficiencies while ensuring the implementation of a people-first philosophy. This, Nyati explains, is also what led him to making the investment.

“At this stage in my life I want to leave a legacy,” he said.

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Nyati was the managing director of Microsoft from 2008 to 2014. He then went on to become the CEO for MTN till 2017. He was also the CEO of Altron – a position he left in June this year. Nyati is the founder of Wazo Investments and also serves on the new Eskom board.

Nyati recently grabbed the spotlight for his views on economic empowerment in Eskom. He was quoted in the media saying that internal corruption was largely at the back of empowerment policies that promote local small businesses.

“These policies will need to be reviewed and changed where appropriate,” he said, referring to Eskom.