The partnership stems from the challenges faced in the space, where many entities struggle to keep track of their assets and fail to realise a return on investment. According to Grand View Research, the global Asset Maintenance market size was valued at $216.98 billion in 2019. It is expected to expand at a compound annual growth rate of 25.9% from 2020 to 2027.
The primary purpose of TICE is to facilitate skills development, continuing education and continuing professional development whilst enabling valuable lifelong learning through research-informed content.
According to TICE Managing Director (MD), Potso Mathekga, the partnership will enable the organisation to expand its offerings and tap into new markets in the Asset Maintenance space.
“We will also collaborate on research and projects that will empower the youth, our students and the communities they live in. As many of you might know, community upliftment is at the centre of what TUTEH does and we are excited about this partnership,” she says.
Optimal MD, Dr Leslie Moyo, added that many students and young people would benefit greatly from the collaboration. He echoed Mathekga’s sentiments regarding the skilling of youth.
“Training and skilling of the youth are at the core of what we do. We are looking at offering internships to allow the youth to study and learn from our team and get a first-hand experience regarding what the job entails, as well as the necessary skills required to compete in the space,” Dr Moyo says.
Dr Moyo says through the partnership, they want to support the market as it grows and capitalise on the existing systems to make asset management seamless.
“There are a plethora of tools out there, but the problem is the skills element,” he says.
Mathekga says: “Asset maintenance and management are absolutely key, while the problems are also extensive. Some entities can’t keep track of their own assets, robbing them of a return on investment, which is quite problematic. We want to change that through this partnership.”
For more information on TICE and the partnership, please contact Nkuli Maphanga, on firstname.lastname@example.org, tel 012 111 7863 or 062 128 8703 | www.tutenterprise.co.za.