JAMIE CARR: Sharper focus, stronger assets at Brainworks
Despite all challenges, Brainworks has put together a much-improved set of results
Zimbabwe hasn’t put in a huge showing on the list of investors’ favourite destinations in recent years, due to what could charitably be described as challenging economic conditions brought about by eccentric political leadership. Since the elections of July 2018, however, the government under Emmerson Mnangagwa has gone on a charm offensive to persuade the world that the country is safe and secure for investment. While it would be premature to suggest the market is entirely convinced, it’s a step in the right direction. Bringing a bit of sense to the currency situation would be a major help, and Brainworks’ results offer a beginner’s guide to the transitional stabilisation programme intended to prevent inflation from entering another death spiral. Despite all the external challenges, Brainworks has put together a much-improved set of results, sharpening up the focus of its portfolio by exiting its financial services investments, strengthening its balance sheet and coaxing a solid pe...
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