This firm epitomises the word "transformation" in many ways. In 2007, AdaptIT languished in 191st position in the Top Empowerment Companies survey after scraping a lousy 2,4%. Two years earlier, this hi-tech firm, then known as Infowave, was in the red. At the time the market jeered when management announced a business strategy and how the BEE plan was going to yield growth. Today, AdaptIT is among the most empowered on the JSE, raking in profits and making its mark on the ICT scene. But trading volumes and the low p:e show that the market has its doubts. The board, under the young CEO Sbu Shabalala, features Wanda Shuenyane and there's a bias towards black people among directors and management.
