The coming to power of President Emmerson Mnangagwa in November last year has been a major boost for tourism with one of the country’s largest hotel groups saying its occupancy went up by 20 percent in the first half which is normally a dry period for tourism.
One of the country’s top players in property and tourism sectors, Brainworks Capital, believes the firm is poised to benefit from various infrastructure projects that are taking place in the country as President Mnangagwa’s Government prioritises economic development and growth.
Brainworks announced its interim results (“HY18”), showing a revenue increase of 28% to US$31 million compared to US$24 million for the comparative period (“HY17”).
Newly JSE-listed firm Brainworks, which has extensive Zimbabwe-focused operations, is well positioned to reap benefits from that country’s transformation, says CEO Brett Childs.
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.
Brainworks featured in the 'Companies to Inspire Africa 2017: One Year On' Report by London Stock Exchange Group (LSEG) in partnership with AfDB Group, CDC Group and PwC.
Brainworks Limited has raised $8 179 808 following the placement of 9 078 677 Treasury shares to investors.
Brainworks’ underlying businesses have continued to reflect resilience and growth notwithstanding the myriad of challenges the country is facing.