Regulation, pandemic trims Cassava’s revenue

CASSAVA Smartech, now trading as Ecocash Holdings Zimbabwe, says its revenue declined by 36 percent to $14 billion during the year to February 28, 2021, weighed down by regulatory changes and the impact of the Covid-19 pandemic.

In a bid to rein in financial crime, the Reserve Bank of Zimbabwe last year placed a number of limitations on mobile money services, which is Cassava’s major bu