Mustek Bets R7M on AI After Solar Boom Fades

South African tech distributor Mustek is investing R7 million in a business-to-business AI marketplace after a sharp revenue decline. The company's earnings dropped 16% to R8.5 billion in 2023-2024 following the end of South Africa's load-shedding crisis, which had fueled a solar hardware boom. Mustek acquired startup Business AI and partnered with Dublin-based Beyond Now to build the platform, which will vet and list AI products from multiple vendors. CEO Hein Engelbrecht says enterprises are now seeking practical AI applications in analytics, automation, and cybersecurity with measurable returns.