Of the business units, banking firm -
Company secretary
During the period under review, has been characterised by lockdowns and movement restrictions to limit the spread of the Covid-19 pandemic, which had an adverse impact on businesses. However, the group acknowledged improvements in inflation which cascades to growth in business activity.
"A decline in the month-on-month inflation and relative economic stability present an environment in which business activity could start to recover. As a platform business that supports transactional activity in the economy, this recovery is supportive of improved transactional volumes," said
"The business remains focused on growing transactional volumes and improving operating efficiencies to maintain the growth in revenues," she said.
Mobile money business continued on a steady growth trajectory with revenues increasing by 63 percent from the same period last year.
Transaction values and wallet funding were also higher than the same period in the previous year at 25 percent and 54 percent respectively.
"EcoCash, continues to provide customers with unparalleled convenience and to play a key role in the financial inclusion agenda in
According to the trading update, the Insurtech businesses pursued numerous initiatives during the period which resulted in an increase in revenue by 70 percent due to the growth in customers.
The various initiatives that were implemented to reach previously uninsured sectors paid off with an 11 percent and 106 percent growth in the customer base for life business and short-term insurance respectively, from the previous quarter.
Vaya Technologies recorded a 51 percent growth in its operations and on the back of strategic relationships that were established during the period under review.
The strong demand for healthcare services due to Covid 19 pandemic resulted in the Healthtech business also recording revenue growth. The group remains upbeat of maintaining the growth trajectory the ongoing vaccination programme is also expected to result in improved business activity.
Meanwhile, the group's financial results for the year to
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