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EcoCash Holdings, a diverse smart-tech group led by billionaire businessman Strive Masiyiwa, is one of the best-performing listed companies in Zimbabwe this year, having witnessed substantial gains since 2022 began.
EcoCash, formerly Cassava Smartech, is a smart-tech company that leverages digital and financial technology to build shared economies, increase financial inclusion and empower people.
The value of the group’s shares on the Zimbabwean Stock Exchange has more than doubled since the start of the year, as market participants continue to bid up shares in expectation of greater financial performance at the conclusion of its fiscal year in 2022.
EcoCash shares have risen from ZWL39.6 per share ($0.123) on Dec. 31 to ZWL79.9 ($0.248) on Feb. 18, representing a 101.3-percent gain for owners.
The group’s market capitalization has climbed by ZWL103.9 billion ($322.7 billion) as a result of the price boom, from R102.6 billion ($318.7 million) at the start of the year to ZWL206.5 billion ($641.7 million) at the time of writing.
Seven weeks later, a $10,000 investment in EcoCash Holdings is worth $20,130
If local or international investors had acquired shares in EcoCash on the Zimbabwean exchange 49 days ago, they would have enjoyed a 101.3-percent rise in value since the start of the year.
This means that a $10,000 (ZWL3.2 million) investment in EcoCash seven weeks ago is now worth $20,130 (ZWL6.5 million), or around 101.3 percent more than the initial investment.
Masiyiwa, Zimbabwe’s richest man, controls 30.26 percent of the firm, or 783,882,701 ordinary shares, through Econet Global Limited. His shareholding has risen in value by more than $97 million since the year began.
Masiyiwa is presently worth $3.3 billion, making him one of the continent’s wealthiest billionaires.
