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    EHZL   ZW0009012437

ECOCASH HOLDINGS ZIMBABWE LIMITED

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Cassava Smartech and Comviva win Silver in Two categories at Emerging Payments Awards Cassava Smartech and Comviva won the silver for the Green financial inclusion initiative by mobile money platform EcoCash

11/09/2021 | 06:48am EDT

Cassava Smartech (https://bit.ly/3qjJTRG) Zimbabwe, trading as EcoCash Holdings Zimbabwe Limited, together with its long-term technology partner Comviva (Comviva.com), has won two silver awards at this year’s Emerging Payments Awards (https://bit.ly/3BYaiH4).

Cassava Smartech and Comviva won the silver for the Green financial inclusion initiative by mobile money platform EcoCash in the "Best Direct Account to Account Solution" and "Most Innovative Mobile or Financial Service Payments Solution" category. The winners were announced at the Emerging Payments Awards Ceremony held recently in London.

Climate change and its adverse impacts are growing concerns throughout the world, including in Zimbabwe. EcoCash, Zimbabwe’s largest mobile-money service, which is used by over 80% of country’s adult population, recognises its pivotal role in financial inclusion. It also understands the importance of creating resilience to climate change among vulnerable people, the use of ‘clean’ energy sources and reducing waste for a better environment. The EcoCash team recognises that the ubiquity and power of EcoCash can be leveraged to fight adverse effects of climate change, create a better environment and support Green Financial Inclusion efforts.

EcoCash is driving ‘Green Financial Inclusion’ by launching innovative new features, services and initiatives such as enabling humanitarian organisations and NGOs to disburse financial-aid digitally via EcoCash to people impacted by climate change disasters, like droughts and floods, thus helping them to sustain and overcome food insecurity. The innovative mobile platform helped collect donations digitally for relief-efforts during climate change-induced disasters, such as cyclone Idai, to help with rescue, relief and rehabilitation for victims.

Cassava Smartech is also providing weather-index crop-insurance to farmers to build resilience in the wake of climate change-induced droughts, helping them sustain themselves despite crop failure emanating from excessive or scarce rains. It is encouraging the use of ‘clean’ solar energy by enabling customers to pay conveniently to solar companies for solar services using EcoCash.

EcoCash is digitizing payments, reducing the use of paper vouchers and paper receipts, decreasing paper waste and has also used ‘clean’ solar energy to power mobile money agent kiosks.

Speaking on the award, Cassava Smartech Zimbabwe Chief Executive Officer, Eddie Chibi said: "At Cassava Smartech we are focused on serving where the need is greatest, and we are happy that our efforts and initiatives are being appreciated at global industry awards like Emerging Payments awards.Through EcoCash we are leveraging mobile technology to extend financial inclusion to all Zimbabweans and creating a cash-lite economy."

Anil Krishnan, Head of Africa Region at Comviva said, "This award validates our efforts in bringing innovative fintech services to the forefront. We believe that fintech solutions that cater for the necessities of the people on the ground and during natural calamities have the power to bring financial inclusion. EcoCash in Zimbabwe is one such service which has largely replaced cash and is helping in promoting financial inclusion and alleviating the cash challenges."

The Emerging Payments Awards are the virtual gathering place for the payments community to celebrate progress, applaud achievements and network. The award celebrates innovation and collaboration by recognising companies that have made significant advances in how we pay today. The 2021 edition was held online and recognised the mostinnovative projects in up to 20 different categories.


Distributed by APO Group on behalf of Comviva.

For further enquiries, please contact:
Sundeep Mehta
PR & Corporate Communications
Comviva Technologies Ltd.
Mail: sundeep.mehta@comviva.com

About Cassava Smartech:
Cassava Smartech is a diversified smartech group, with a mandate to use digital solutions to drive socio-economic development, and to improve the overall quality of life for all Africans. We are on a transformational mission, and envision a future whereby our solutions are able to touch every life, bringing positive impact particularly to the millions of previously excluded Africans. For more information, visit us at https://cassavasmartech.co.zw/.

About Comviva:
Comviva is changing the world through digital experiences. Our innovative portfolio of digital solutions and platforms brings greater choice, faster time to market, and flexibility to meet our customers’ evolving needs better as they drive growth, transform, and bring efficiency. From maximizing customer lifetime value to enabling large-scale digital transformation, we partner globally with communications and financial industry organizations to solve problems fast and transform for tomorrow. Comviva solutions have been deployed by over 130 Communication Services Providers and Financial Institutions in more than 90 countries. They have delivered the benefits of digital and mobility to billions of people around the world. For more information, visit us at www.Comviva.com.

© African Press Organization, source Press Releases

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Financials (USD)
Sales 2021 9 965 M 30,9 M 30,9 M
Net income 2021 -228 M -0,71 M -0,71 M
Net cash 2021 5 671 M 17,6 M 17,6 M
P/E ratio 2021 -121x
Yield 2021 -
Capitalization 255 B 791 M 791 M
EV / Sales 2020 3,17x
EV / Sales 2021 2,20x
Nbr of Employees -
Free-Float 99,0%
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Managers and Directors
Edmore Chibi Chief Executive Officer & Executive Director
Theresa Nyemba Executive Director & Finance Director
Sherree Gladys Shereni Chairman
Darlington T. Mandivenga Non-Executive Director
Hardy Pemhiwa Non-Executive Director
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