Econet's Cassava Smartech eyes logistics business

By Staff reporter | 13 Dec 2018 at 06:32hrs
Econet Wireless Zimbabwe's Cassava Smartech plans to venture into the logistics business following the successful launch of its on demand ‘Vaya Lift' ride service. Cassava Smartech is a unit of Econet which is set to be listed separately on the Zimbabwe Stock Exchange.

Cassava Smartech which is meant to provide relevant and innovative digital solutions in Zimbabwe is a diversified "SmarTech" group that shelters companies like EcoCash, Steward Bank and Econet Life among others.

The company recently launched Vaya Lift and an education insurancecover, Enda Education Cover.

Going forward the company is now looking at consolidating its presence in the logistics  business to fill the gap in the market, according to chief executive Eddie Chibi.

"What's happening is that currently we have Vaya lift which is on demand services and we  are at the moment offering free rides and the beauty of it is that we are creating employment for all the drivers with vehicles and then in addition to that, we are giving people safety, security and the convenience to move around.

"But beyond that we realised that also people needs to move goods, parcels and cargo. So the next phase of Vaya is that you are going to see us moving parcels and we have already started moving some parcels and then we will go into proper logistics using the same platform," said Chibi.

Cassava Smartech is a diversified group, with a mandate to use digital solutions to drive socio-economic development and to improve the overall quality of life for all Africans.

Cassava Smartech has evolved from a mobile money transfer service to a diversified "Smartech" business.

By offering a solution for customers to complete financial transactions directly from their mobile phone, EcoCash has revolutionised financial inclusion in Zimbabwe, a country where over 65 percent of the population still reside in rural areas with limited access to financial services.

Today, it is the largest mobile payment platform in Zimbabwe and is used by over 80 percent of the country's adult population.

The success of EcoCash has unlocked a number of opportunities that characterise the digital economy, and Cassava sees great untapped potential across all areas in which it has expanded, such as insurance, remittances, ride-hailing, and mobile e-Commerce.



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