eBusiness Weekly
CASSAVA Smartech Zimbabwe (CSZL), is a diversified fintech-focused group that demerged from Econet Wireless Zimbabwe (EWZL) in 2018 and operates separately from EWZL, yet enjoying a relationship that enables the two separate Groups to exploit their synergies.
The Zimbabwe Stock Exchange (ZSE) listed EWZL spin-off , made its debut on the ZSE in December 2018 and became the bourse’s largest counter by market capitalisation at $3,9 billion.
The company is under the leadership of Chief Executive Officer Mr Edmore Chibi and Finance Director Mrs Emilia Chisango. Econet Global and Econet Wireless are the group’s two largest shareholders at 30,26 percent and 20 percent respectively.
CSZL’s vision is to provide relevant digital solutions and the company uses innovative and inclusive digital solutions to support socio-economic development and improve the overall quality of life for Zimbabweans.
The Group’s subsidiary companies include EcoCash (Private) Limited, Steward Bank Limited, Econet Life Private Limited and Econet Insurance Private Limited. There are also other businesses that fall under Cassava in AgriTech, EduTech, HealthTech and some other fields.
Over the years, the company has uniquely integrated the digital transactions ecosystem including Mobile Money, Digital Banking, Payment Services, Social Payments and International Remittances.
Through its Fintech services, the company believes that it has been able to drive financial inclusion from under 10 percent to 70-80 percent in some of its markets, and helped to create thousands of new job and business opportunities for young entrepreneurs.
As at September 15, 2021, the company’s share price was 2,298.28 cents with a market capitalisation of $59 billion.
