Brainworks acquires Nettcash, Zimbabwe

Texas-based Mozido is currently the majority shareholder in Nettcash with the remaining 51% of shares. Incidentally, Mozido opened an Africa HQ in Johannesburg as recently as October 2015. Brainworks is currently seeking regulatory approval to acquire the outstanding 51%.

At the time of the Africa HQ launch, Mozido seemed intent on expanding their footprint in Africa, so the sale of the Zimbabwean subsidiary less than a year into the Africa adventure is a bit of a mystery.
Brainworks Capital Management is a private equity company that launched a USD 20 million fund aimed at various Zimbabwean industries in 2011 and has since dug-out a well-rewarding niche at the crossroads of indigenisation and private equity.