Cassava SmartTech is about to become more of a household name as the company will no longer be under the shadow of the Econet Group instead becoming a standalone entity that is listed on the Zimbabwe Stock Exchange.
A big question many will have is, “so what will this Cassava focus on?” Well, that’s not too tricky and both the Cassava website along with Econet’s circular to investors goes a long way in clearing up the air.
Here are the businesses that will fall under Cassava SmartTech after the 11th of December (if everything goes to plan for Econet):
Yes, the mobile money platform that we’ve all grown accustomed to using will be Cassava’s baby going forward. According to Econet, “The EcoCash subscriber base now accounts for 80% of the adult population in Zimbabwe.” EcoCash is also probably the biggest reason why Cassava SmartTech was able to rake $235.1 million from February to August this year. As long as we are a cashless economy EcoCash will continue growing because of the convenience it offers and it’s good news for Cassava to have such a service under its belt.
Cassava SmartTech is also going to be steering the “ka life ke purple” financial institution going forward. Steward Bank is a wholly owned subsidiary of CSZL that offers digital financial services in Zimbabwe. It plays a pivotal role in CSZL, especially for EcoCash, as the bank holds the banking licence necessary for Cassava Zimbabwe to provide mobile money services.
Similar to EcoCash, Steward Bank will continue raking in the funds through bank charges as long we are paying excessive transaction fees and I guess that will be great for Cassava’s bottom-line.
Econet Life is an 85% subsidiary of the Company and is the underwriter for EcoSure Funeral Cover. The remaining 15% will be owned by the Econet Group Staff Pension Fund.
Econet Insurance (Pvt) Limited
Econet Insurance was licenced in July 2018 to underwrite all classes of short-term insurance and launched EcoSure Moovah in the same month that it was licenced.
Econet Insurance is a 90% owned subsidiary of Cassava SmartTech while 10% is owned by the Econet Group Staff Pension Fund.
There are also other businesses that fall under Cassava in AgriTech, EduTech, HealthTech and some other fields. These are the businesses;
Technites are trained and certified technicians that are deployed to customer sites on an on-demand basis. They offer flexible resources through an Uber-like technological platform. The Demand Service Company earns a commission on the amount billed to the customer for the work done.
A Ride Hailing solution that moves people from one point to another through the use of cell phone-based App that links the drivers and the clients
The KariGO App is a tech-based solution platform that connects a Cargo and truck owner closing the supply chain gap as well as solve the problem of “zero backhauls”.
Tasknites are researchers that improve how companies and organisations serve their stakeholders. They collect and provide key information in real time, which allows clients to act on current intelligence while it is still valid
Tengai Classifieds is an online marketplace for buyers and sellers, with a strong focus on promoting small businesses and growth of the informal sector.
Tengai developed the Kwese TV eStore platform, Africa’s newest and fastest-growing pay-TV service. The Kwese eStore platform allows customers to buy satellite dishes, set-top boxes/ decoders, accessories and even pay subscriptions from the comfort of their homes.
Ruzivo Digital Learning offers an online interactive digital learning platform targeted at primary and secondary students. The content is aligned to the national school curricula and offered in conjunction with Ministries of Education in the different countries.
Simba Education platform is an online web platform offering early childhood education, targeting the pre-school segment. It is accessible to teachers, parents and learners, with features that include step-by-step instructions for teachers, activities for parents, student report tools and high levels of customization.
Akello Books is an ebook store platform that provides academic and non-academic affordable and reliable access to world-class content.
Muzinda is a tech hub aiming to build and support an engaged and talented community of tech enthusiasts and IT professionals. They train developers, entrepreneurs and offer Google certification.
Maisha helps users search for symptoms to get a better understanding of what may be ailing them. All this from their mobile.
An ‘end to end’ mobile agricultural platform targeted at smallholder farmers. The platform tries to aggregate a number of services such as farmers markets, information around produce as well weather forecasts and a bunch of other things.