AIM market listed Cambria Africa has disposed of and sold its Zimbabwean information technology (IT) business unit to Mauritian company, Complete Enterprise Solutions Mauritius for $190,000.
The unbundled IT business unit, called Diospyros Investments and which trades as CES Zimbabwe, develops and delivers IT outsourcing for companies. Cambria is said to have invested about $155 000 in CES.
The disposal of the company’s IT business unit is part of Cambria’s efforts to reorganise its investments in the country, it said in a statement.
It will now concentrate on running the Leopard Rock Hotel in eastern Zimbabwe, Celsys, a printing company listed on the Zimbabwe Stock Exchange (ZSE), Millchem and Payserv, a payroll software company.
“Cambria may, at a later stage, reconsider entering the IT services market, which it continues to consider attractive. However, at this point, the company will focus on developing and strengthening its four remaining businesses,” Cambria said.
The company also said it had signed a memorandum of understanding with joint venture partner — ForgetMeNot Software Limited — over the sale of Cambria’s shares in ForgetMeNot Africa to ForgetMeNot Software for $250,000.
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