First Zimbabwe firm lists on South African bourse

By MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – THE Zimbabwean-focused investment firm,Brainworks Limited, is the first company from the neighbouring country to have a primary listing on the Johannesburg Stock Exchange (JSE).
It has listed on the main board of the JSE, the 16th company to list on the exchange this year.
Donna Nemer, Director: Capital Markets at the JSE, welcomed Brainworks to the South African market.
She said as Africa’s largest stock exchange, the JSE believes it can make an important contribution to the growth and the development of the continent.
“We do this through offering foreign investors a secure and transparent entry point into Africa and providing the companies who do business here with a liquid platform to raise further capital to fund their expansion,” Nemer said.
Brett Childs, Chief Executive Officer of Brainworks is confident the strategy of listing on the JSE will prove pivotal.
He said international and Zimbabwean investors would view Brainworks as a vehicle to access our excellent asset portfolio and participate in the opportunity that is Zimbabwe.
“With approximately 38 percent of group revenue generated in hard currency, through our hospitality division, a large property portfolio and our focus on micro finance, banking and insurance we are well placed to benefit in a changing economic environment,” Childs said.
Brainworks is focused on the Zimbabwean hospitality, real estate,financial services and logistics sectors.
Its current investments include controlling stakes in two companies listed on the Zimbabwean Stock Exchange, African Sun, a hospitality management company and Dawn Properties, a real-estate investment holding, development and property consulting services company.