Econet Group Launches Cassava Technologies as New Parent Company

On Wednesday, 10th November 2021, Econet Group announced the launch of Cassava Technologies – a parent company that will bring together Econet’s digital services and digital infrastructure product segments, encompassing fiber broadband networks, data centers, and renewable energy; as well as cloud & cybersecurity, fintech, and digital platforms. 

According to a press release on its website, Cassava Technologies aims to empower individuals and businesses in Africa through digital solutions which drive the vision of a digitally connected future that leaves no African behind. The company encompasses well-established and leading technology brands, including Liquid Intelligent Technologies, Africa Data Centres, Liquid Cloud, Sasai Fintech, Vaya Technologies, and Distributed Power Technologies. Cassava Technologies is backed by significant investment and extensive collaboration with some of the world’s largest technology businesses and institutional investors interested in Africa’s nascent but rapidly growing digital economy.

Hear from Cassava Technologies

According to Hardy Pemhiwa, CEO of Cassava Technologies, “We are delighted to announce the launch of Cassava Technologies. Our unmatched fiber broadband, data centres, and renewable energy infrastructure, paired with fintech, cloud, cybersecurity, and on-demand digital platforms, will accelerate Africa’s digital transformation. As Cassava Technologies, with a footprint covering more than 15 countries, we are well-positioned to meet the growing needs of businesses operating in Africa and expand access to fintech and other digital services to enterprises, small & medium-size businesses, and consumers across Africa.”

Cassava Technologies is the leading technology enterprise driving Africa’s digital transformation which represents a large and fast-growing addressable market of underserved consumers and businesses. With a total projected population of 1.5 billion1 and approximately 60% of the population expected to be urbanized by 2025, there is accelerating demand across the continent for Cassava Technologies’ range of digital services enabled by a digital infrastructure platform of unrivaled scale. The African continent is still marked by low internet penetration and hampered by high costs of internet access despite the projected exponential growth. This, coupled with a significant unbanked population further underlines the huge market opportunity for Cassava Technologies.

What Will Happen

The focus of Cassava Technologies is the accessibility of technology to Africans to drive the vision of a digitally connected future that leaves no African behind.

The newly launched Cassava Technologies will be a parent brand to Liquid Cloud, Sasai Fintech and Vaya Technologies, Liquid Intelligent Technologies, Africa Data Centres, and Distributed Power Technologies. However, other Econet brands such as Econet mobile telecoms businesses including Econet Wireless Zimbabwe, Econet LEO (Burundi), Econet Telecom Lesotho, Econet’s investment in Mascom Wireless Botswana, and Econet’s mobile money business, EcoCash Holdings Zimbabwe, will continue to operate under the Econet Wireless brand.

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