News

S. African ISO earns business honor

October 21, 2003

JOHANNESBURG, South Africa - Independent ATM distributor ATM Solutions has won plaudits for making money available to more South Africans, despite the monopoly the country's big banks have on cash machines.

The company, which has installed one ATM every day since its first day of operation in 1999, was named winner of the South African Non-Listed Company Awards on Oct. 21, according to a report in Business Day.

The awards program, sponsored by KPMG, Wits Business School, Business Day and Proudly South African, is in its 18th year and recognizes innovation and business excellence in privately-owned companies.

ATM Solutions co-founder and CEO Steven Kark first approached partner Rowan Swartz wirh the idea of installing non-bank ATMs.

"I thought it was a tough idea, especially in such a highly regulated environment. But four years later we're smiling," Swartz told Business Day.