Econet, which is owned by billionaire and philanthropist Strive Masiyiwa, has created Cassava Technologies, a parent company that will house its cloud and cybersecurity, FinTech, digital services and infrastructure activities including broadband networks, data centres, and renewable energy.
The pan-African telecoms group said 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 London-headquartered firm, which will be led by CEO Hardy Pemhiwa, will act as the parent company of Econet brands including Liquid Intelligent Technologies, Africa Data Centres, Liquid Cloud, Sasai Fintech, Vaya Technologies, and Distributed Power Technologies.
Econet says 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.
The company claims Cassava Technologies, headquartered in London, “is Africa’s first integrated tech player of continental scale at the forefront of technology innovation, with operations and activities in most African countries.
” Its product segments provide digital solutions to over 1 million enterprises and enable access to the internet for over 500 million people. Its Sasai Super App is projected to provide access to fintech services for over 75 million customers across Africa by 2025.”
“Technology creates pathways to democratize access to opportunity. Only through accelerating digital innovation in Africa will we empower individuals, families, businesses, and economies to reach their full potential,” London-based African telecoms and tech entrepreneur Masiyiwa, Founder and Executive Chairman of Cassava Technologies, said.
“As Africa’s economy transitions to digital, there is a tremendous opportunity for increasing connectivity to usher in a new wave of digital tools and solutions that will improve the lives of millions of Africans. This is why we have created Cassava Technologies, to make technology as accessible as cassava “fufu” in Africa.”
Cassava Technologies’ businesses and its founder-led management team have a 25-year track record of success and a rich history of innovation in Africa. Cassava Technologies operates the largest independent pan-African terrestrial fiber broadband network, which spans more than 62,000 miles, covering more than 300 towns and cities across Africa from Cape Town to Cairo.
“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,” said Pemhiwa.
“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 also operates Africa’s largest footprint of interconnected carrier neutral data centers and the Sasai Super App supporting payments and remittances across the continent. This digital infrastructure is the bedrock of Africa’s digital economy, enabling connectivity and social mobility for Africa’s more than 1.3 billion people.
Econet Group’s mobile telecoms businesses which include 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 are unaffected and will continue to operate under the Econet Wireless brand.