Cassava says revenue in Q-August up 70% on increased transactional activity

Ecocash 1 1

Staff Writer

Cassava Smartech Zimbabwe Limited revenue has increased by over 70% in the quarter ending August 31, compared to the same period the previous year driven by growth in transaction activity.

Cassava Group Company Secretary, Charmaine Daniels said the business remains focused on growing transactional volumes and improving operating efficiencies to maintain the growth in revenues. روني

“Our Mobile Money business continued on a steady growth trajectory with revenues increasing by 63% from the same period last year” she said. فيلم اللعبة الامريكية

Transaction values increased to 25% while wallet funding was 54% higher than the same period in the previous year.

Daniels said EcoCash continues to provide customers with unparalleled convenience while playing a key role in the financial inclusion agenda in Zimbabwe.

Steward Bank reported a 300% growth in revenue, largely attributable to higher interest income in line with the group’s growth strategy on interest-earning assets.

The bank remains focused on optimising the Core Banking System implemented during the first quarter of the year.

The Insurtech businesses pursued numerous initiatives during the period under review which resulted in an increase in revenue by 70% following the growth in customers. The various initiatives that were implemented to reach previously uninsured sectors paid off with an 11% and 106% growth in the customer base for life business and short-term insurance respectively, compared to the previous quarter.

Vaya Technologies experienced a 51% growth in its operations and this is largely attributable to strategic relationships that were established during the period under review.

“The business continues to focus on developing innovative and efficient service delivery mechanisms to grow revenues and improve its profitability” said Daniels.

Turnover in Healthtech continued on an upward trend on the back of strong customer demand for health services driven by the Covid-19 pandemic

Daniels said, the group will continue to deploy technology solutions to ensure better and more convenient access to the company’s products and services across all of the business segments and remains optimistic, expecting improved business activity as the country increases the vaccination rollout programme.

The group also announced that the annual audited financial statements will be published on or before the 30th of September 2021 due to delays in the finalisation of the 28 February 2021 audit.

“The group experienced delays due to the impact of the COVID-19 pandemic as well as the need to resolve certain technical accounting matters. The company has sought and received approval from the Zimbabwe Stock Exchange” she said. طريقة لعبة اونو

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