Brainworks to dispose of financial services


    Brainworks Limited, which last year became the first Zimbabwean company to list on the main board of the JSE, said on Monday it had decided to dispose of its financial services section to focus on hospitality, leisure and real estate.

    “Brainworks plans to restructure the company, by reducing its financial services component, focusing on leisure and real estate sectors through seeking investment opportunities in the supply chain to these sectors,” it said in a statement.

    “It is expected that these market segments will continue to benefit from the recent political changes in Zimbabwe.”

    The company said it looked to benefit from the current dynamism in the Zimbabwean political and economic landscape “while the government charts a new way forward with economic and investment recovery measures”.

    “Considering the recent positive developments in Zimbabwe’s economic environment, the board has resolved to focus efforts on hospitality, leisure and real estate,” CEO Brett Childs said.

    “We aim to continue building a portfolio that will deliver capital growth and offer exposure to prominent Zimbabwe based assets.”

    – African News Agency/ Iol


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