Mustek Expands Into Artificial Intelligence With Majority Stake in Business AI
The move comes as Mustek reported mixed financial results for the year ended 30 June 2025.
Technology solutions provider Mustek has taken a significant step into the artificial intelligence sector with the acquisition of a 51% stake in newly established Business AI (Pty) Ltd, effective 1 August 2025.
Business AI is building a dedicated B2B marketplace portal designed to connect enterprises with vetted AI vendors, platforms, solution providers and data centres. The platform will act as a trusted gateway for businesses seeking to adopt AI securely, ensuring that every product and service listed has undergone quality, relevance and security checks.
The move comes as Mustek reported mixed financial results for the year ended 30 June 2025. Revenue fell 15% to R7.18 billion, reflecting weaker consumer demand, public sector delays and declining sales in green energy products. However, the group improved profitability, with basic earnings per share nearly doubling to 71.71 cents, while headline earnings per share rose 8% to 72.73 cents. A final dividend of 13.75 cents per share was declared, up from 7.50 cents in 2024.
Chief Executive Hein Engelbrecht noted that AI is now among the top IT investment priorities, with enterprises shifting focus from hype to measurable outcomes in analytics, automation and cybersecurity. Mustek’s investment in Business AI, he said, positions the group to capture new growth in AI-enabled hardware, software and services.
The group also highlighted progress in working capital management, cutting inventories and receivables by 19% and generating R687 million in cash from operations – a sharp turnaround from last year’s R60 million.
With AI adoption accelerating globally and South African enterprises under pressure to digitise, Mustek’s expansion into Business AI signals its intent to move beyond traditional distribution and play a leading role in shaping the region’s AI ecosystem.
