Closures, Resignations at Celsys_Zimbabwe Stock Exchange (ZSE) listed IT firm Celsys, which embarked on strategic review of its operations following its acquisition by LonZim, has closed its marketing and web design business and its Nokia cell phone sales units.

Celsys had initially acquired the marketing and web design business from Venekera works as part of its expansion plans.

The company has also earmarked its IT Software business for disposal.

“The directors have resolved to dispose of its Sophos business.”

“The company has continued its strategic review to clearly define its business model for economic recovery.

Recovery had been slower than was originally anticipated which has resulted in the company concentrating on two key divisions being commercial/security printing and the mobile phone and airtime distribution markets.”

The company, which has continued to struggle despite the injection of fresh capital into the business, has also parted ways with its CEO,Geoff Goss resulting in the elevation of its COO,Adam Lemon.

Despite the company having projected a break even position by end of the financial year many wonder whether its shareholders will ever get any return on their investment in short to medium term.