Black-empowered Morvest Business Group will move to the JSE's main board next week Monday.
The company, which until recently was called Simeka Business Group, has been listed on the JSE's Alternative Exchange since 2004. It says the move, into the “business support services” sector, will reposition it alongside the “appropriate” peers.
Morvest adds the move to the main board is the “fulfilment of a prior strategic undertaking to investors”. CEO Mohammed Varachia says the Alternative Exchange has served the company well as an “incubation” platform.
“In light of our recent group development incentives to cement the foundation for continued growth, the move is an important milestone,” says Varachia.
Morvest provides professional services, ICT and outsourcing solutions. It has more than 2 000 staff and has a presence Nigeria, Mozambique, India and the US.
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