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Brainworks to exit financial services as part of restructuring

The Johannesburg Stock Exchange listed company is to focus on its hospitality, leisure and real estate.
meetings
It is conducting a restructuring

Zimbabwe-focused Brainworks Ltd (JSE:BRA) is planning to dispose of its financial services assets, according to reports in Africa.

The Johannesburg Stock Exchange listed company is to focus on its hospitality, leisure and real estate as part of a proposed restructuring.

WATCH: Brainworks to exit financial services as part of restructuring

"It is expected that these market segments will continue to benefit from the recent political changes in Zimbabwe,” the company is quoted saying.

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

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

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