Cassava uniquely positioned for growth
CASSAVA Smartech (Cassava) says the current market challenges around access to quality education, decent healthcare and the need to boost the country’s agricultural output through research, present opportunities for the tech firm to extend its on-demand and shared economy services.
The company was listed on December 18, 2018, following its successful demerger from Econet Wireless Zimbabwe.
Since then, it has developed and strengthened a range of complementary innovations.
In a statement after its inaugural annual general meeting recently, the company said it would continue to develop new products, which will provide exposure to several underlying value drivers, thus significantly de-risking the overall business and positioning it for long term sustainable growth.
“Cassava’s key business drivers — such as a large base of an estimated 10 million customers, extensive infrastructure, a robust payment platform, as well as brand recognition and acceptance — all bode very well for future growth”.
“As Cassava approaches its first listing anniversary on 18 December 2019, there appears to be much cause for optimism for Africa’s first listed smartech company”.
Cassava shares are trading at 153,77 cents, up from the closing price of 149,28 cents recorded at listing, giving the company a market capitalisation of $3,98 billion and making it the third most valuable counter on the Zimbabwe Stock Exchange.
The company’s current growth trajectory, is being propelled by EcoCash, Steward Bank, EcoSure, Moovah, VAYA, EcoFarmer, Ownai, Mars Ambulance Service, Maisha Medik and Steward Health, all of which uniquely position Cassava as Africa’s first listed smartech company.
The VAYA ride hailing platform is changing the way Zimbabweans travel, while VAYA Tractor, the most recent addition to the company’s on-demand services, has got off to a solid start going by the feedback and endorsements from commercial and smallholder farmers and players in the agriculture sector.