Cassava Smartech gets listed on Zimbabwe Stock Exchange on December 18, 2018
Tuesday, 18 December 2018 15:27
Cassava SmarTech Zimbabwe Limited (CSZL), a subsidiary of the mobile telephony operator Econet Zimbabwe Limited (EWZL), born from the separation of its mobile network exploitation activities from the technology operations, enters the Zimbabwe Stock Exchange (ZSE), today December 18, 2018.
The new firm that owns 100% of EcoCash, the mobile money service, 85% of Econet Life, 100% of Steward Bank and 90% of Econet Insurance, will issue a total of 2,590,577,241 ordinary shares on the stock exchange.
770,000,000 CSZL shares, representing 77% of the initial issuance, were issued on credit to EWZL shareholders at the pro rata of their shareholdings while 200,000,000 shares, representing 20% of the issued shares, are credited to Econet.
The listing of CSZL is part of the conditions EWZL has to meet to sell its 51% stake in Data Control and Systems (Private) Limited, operating under the commercial name Liquid Telecommunications Zimbabwe, in exchange for Liquid Telecommunications Holdings Limited (LTZ)’s shares valued at $135 million.
Live News
-
Ethio Telecom Reports 72.9% Annual Revenue Growth as Digital Infrastructure and Mobile Finance Propel Record Year
09:44
-
Togo Boosts Exports to Sahel in 2023 as Côte d’Ivoire Falls Behind
08:12
-
Nigerian Fintech CEO Charles Oligbo Reinvents Banking from the U.S. with Virtual Branches
07:32
-
Google Commits to Nigeria’s Digital Future with $37M AI Drive
07:27
-
Saudi Arabia Eases Property Rules for Foreigners, Opens Doors for Cameroonian Investors
07:25
-
Japan Backs Cameroon’s Fish Farming Boost with CFA1.2 Billion for Profip Project
06:26
-
Portugal and Angola Strengthen Ties with $873 Million Credit Boost and Key Agreements
06:21
-
Northern Nigeria Faces Severe Food Crisis Amid Conflict and Aid Cuts
06:13
-
Ethiopia and Italy Seal $209 Million Cooperation Deal Amid UN Food Summit
05:44
-
Mohamed Salah Tourab Streamlines Algerian Commerce With All-in-One App
12:06
The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...
By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...
The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...
As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...
- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...
• Angola and Portugal signed eleven agreements covering security, transport, education, and investment.• Lisbon increased its credit line to Angola...
• Malnutrition cases in Katsina State surged 208% compared to 2024.• Since early 2025, 652 children died at MSF facilities from lack of timely treatment.•...
• Ethiopia and Italy signed a joint declaration to deepen cooperation during a bilateral meeting in Addis Ababa.• The cooperation framework includes a...
• US suspended all immigrant and non-immigrant visa issuance at its Niamey embassy from July 2025.• Trade between the US and Niger fell sharply...
Garamba National Park, located in the northeastern Democratic Republic of Congo, is one of Africa’s oldest and most iconic protected areas. Established in...
Perched in the rugged heights of the Djebel Nefoussa in northwestern Libya, Qasr Al Haji (also spelled Ghasr Al-Hajj) is a striking example of traditional...