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    CSZL   ZW0009012361

CASSAVA SMARTECH ZIMBABWE LIMITED

(CSZL)
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Cassava SmarTech Zimbabwe : in Strong Showing At Zitf

09/23/2021 | 04:06am EDT

Diversified fintech giant Cassava Smartech Zimbabwe Limited, which is now rebranding as EcoCash Holdings Zimbabwe Limited, is exhibiting at this year's Zimbabwe International Trade Fair (ZITF) where it has put up a state-of-the-art stand bringing together all its business units and brands.

Although attendance at this year's edition of the ZITF is somewhat subdued due to the Covid-19 pandemic and the attendant restrictive measures, EcoCash Holdings Zimbabwe decided to bet on the country's premier business exhibition to showcase the group's products and services.

The listed fintech and digital group's business assets comprise mobile money, digital banking, payment services, international remittances, insurance, agritech, edtech, waste management, ride- hailing, logistics and e-commerce, among others.

Eddie Chibi, EcoCash Holdings Zimbabwe's chief executive, said the group was honoured to participate at this year's ZITF at a time the economy is recovering from the effects of the coronavirus pandemic.

"We are committed to showcasing what our businesses have to offer -- the latest technology and state-of-the-art services and products we have deployed in the market -- and the Trade Fair provides us with an ideal opportunity and platform to do so.

"Our presence here allows us to interact with our customers and to strengthen our growing commercial relationships with various business partners and stakeholders, as well as forge new, mutually beneficial partnerships," Mr Chibi said.

He added that the ZITF 2021 theme "Showcasing the New Normal For Business and Industry: Realities and Opportunities" appropriately fitted in with EcoCash Holdings' reinvigorated drive to offer transformational solutions to address some of Africa's toughest problems, using technology in the post Covid-19 era.

The group is showcasing all its business portfolios and brands, in a strong show of confidence in its own innovative capabilities and resilience, and in the prospects that are inherent in the market it operates in.

EcoCash Holdings' assets on display include the group's award-winning mobile payments platform EcoCash, which enables customers to conveniently carry out multiple financial transactions using their mobile phones; Steward Bank, the largest digital banking services provider in the country, and the group's micro-insurance business EcoSure, which offers affordable and innovative insurance cover directly to millions of customers from a mobile phone.

The group's Moovah short-term insurance unit, offering cover for vehicles, property, household contents, personal effects and other assets is also on exhibition, along with the country's fastest growing ride-hailing, logistics, agritech and smart security service provider, VAYA, are among the brands on show at EcoCash's Holding's stand.

The group announced in early August that it was changing its name from Cassava Smartech Zimbabwe, to EcoCash Holdings Zimbabwe, in a move meant to avoid name confusion and align the corporate's brand identity with its flagship mobile money business, EcoCash.

It is now awaiting shareholder approval of the name change at an imminent Annual General Meeting, having already obtained key approvals from its board and relevant regulators.

Copyright The Herald. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials (USD)
Sales 2021 9 965 M - -
Net income 2021 -228 M - -
Net cash 2021 5 671 M - -
P/E ratio 2021 -121x
Yield 2021 -
Capitalization 134 B 414 M -
EV / Sales 2020 3,17x
EV / Sales 2021 2,20x
Nbr of Employees -
Free-Float -
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 51,57 
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Spread / Average Target -
Managers and Directors
Strive T. Masiyiwa Non-Executive Director
Hardy Pemhiwa Non-Executive Director
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