Celsys launches IT division

Staff Writer

CELSYS Ltd has launched its latest division – Celsys-IT – as the company develops the business to enter the lucrative financial services sector.



al, Helvetica, sans-serif”>Celsys listed on the Zimbabwe Stock Exchange on April 30 at a share price of $16,05. Shares were trading at $80 on the bourse on Wednesday.


The IT division currently owns a large number of automated teller machines (ATMs) throughout Zimbabwe and will be expanding its equipment base over the next year to offer broader services covering not only ATMs but also point-of-sale equipment, cheque clearing and settlement systems.


The IT division is the fourth to be launched by the company. Celsys chief executive officer Gary Shayne, said with a strong track record in cellular communications and security printing, the firm was intent on expanding within the technology sector.


“We will continue to grow all areas of our business but we believe that in today’s market there is a growing need for financial institutions to outsource their peripheral services,” Shayne said. “This leaves the banks to focus on their core business and leave the information technology to the experts.”

To maintain and widen the gap between Celsys and other competitors, the group said focus would be placed on expanding the retail distribution base and airtime revenues including penetrating the bulk airtime supply in agreement with other networks.

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