Cassava Smartech Zimbabwe Limited now listed on the Zimbabwe Stock Exchange (ZSE)

Cassava Smartech Zimbabwe Limited now listed on the Zimbabwe Stock Exchange (ZSE)


By Jeffrey Murimbechi

Cassava Smartech Zimbabwe Limited this morning listed on the Zimbabwe Stock Exchange (ZSE) at the trading head office in highlands. 

This becomes the first ZSE listing since 2016 with the bourse expecting two more in the next six months.

Cassava CEO Mr Eddie Chibi says the listing marks a historic moment in Zimbabwe's financial inclusion trajectory.

"Our mandate is empowering lives through digital solutions. We have embarked on a digital journey, to digitise this country and play in the digital economy.

"What we see in Cassava SmarTech is a focus on accessibility for all our service."

"We are going to strive on making sure that everyone previously excluded from financial services, insurance services, agriculture or any other sphere where see that there is an opportunity -is included through digital solutions," he said.

Econet Wireless de-merged with its fin-tech unit Cassava is a landmark move in a development aimed at unlocking the value of the group’s financial and technology operations.

The separate listing allows Cassava to focus on the growing digital service opportunities in Zimbabwe as investors can now purchase the IPO separately from Econet.

Econet Global Limited, the international business of the group, will become the majority shareholder in Cassava with a 35,01% interest.

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