Techzim

iWayAfrica Zimbabwe now in the green. New products doing well, says source

In an article we posted earlier today about Gondwana’s new deal with SevenC Computing to have iWayAfrica Zimbabwe introduce new managed IT services, we indicated that iWayAfrica has had “lacklustre performance in recent years”. This, based on the $55,000 loss they made in 2012. A source close to iWayAfrica Zimbabwe sent us an email to provide more facts and to point us to some publicly available data for the 2013 year that we had carelessly not looked at.

iWayAfrica Zimbabwe’s performance in 2013 was actually a big jump to about $499,281. This is available in the Masawara financial report for the year ending December 2013. The report shows that Masawara’s 15.03% stake in iWayZimbabwe made them a profit of $75,042.

iWayAfrica, said our source, was experiencing healthy growth in an economy where “other companies are either shutting or declaring losses”. On how the new strategy to diversify outside core internet services is doing, the source said services like vehicle monitoring and asset management are actually doing very well, an indication that this year may be even better!

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