Earlier today the Zimbabwe Stock Exchange (ZSE) released a statement saying that it had halted the trading of Cassava Smartech’s (trading as EcoCash Holdings) shares due to a delay in the company releasing its financial results. In response to this EcoCash Holdings has itself released a statement to its shareholders on the matter of the temporary share trading suspension.
Cassava Smartech Zimbabwe Limited trading as EcoCash Holdings Zimbabwe, wishes to advise its shareholders and the investing public that the Company has been halted from trading on the Zimbabwe Stock Exchange pending the publication of its Audited Financial Statements for
the year ended 28 February 2021.
The delay in publication is due to certain technical accounting matters that took time to be resolved. The matters have since been concluded and the Company expects to publish its Financial Statements by the 18th of October 2021
According to reliable sources, the delay was caused by EcoCash Holdings’ banking division Steward Bank. From what we were told the issue had something to do with the regulator (RBZ), however, the matter was said to have been resolved as said in Cassava’s statement.
We were also told that Steward Bank’s financials will be coming out sometime today.