Profiling the ZSE Top Ten Index Constituents EcoCash Holdings
In this week’s column, the ZSE is profiling EcoCash Holdings as a constituent of the ZSE Top 10 Index. Prices and capitalisation figures are as at 29 March 2022.
EcoCash Holdings is a technology group that leverages digital and financial technologies to build shared economies, drive financial inclusion and promote economic empowerment. The company has been demerged from Econet Wireless Limited Zimbabwe and operates separately and independently from Econet, yet enjoying a relationship with Econet that enables the two separate groups of companies to exploit their synergies.
EcoCash Holdings was incorporated in the Republic of Zimbabwe in 2012 as Cassava Smartech Limited and was listed on the ZSE in December 2018. Cassava SmarTech Zimbabwe made history on 18 December 2018 when it debuted in the market at a price of $1,50 per share, valuing the company at $3,8bn. It immediately became Zimbabwe’s third most valuable company after Delta and Econet Wireless on its first day of trading.
EcoCash Holdings is the 3rd largest company, ranked by market capitalization on the ZSE as at 29 March 2022, with a market capitalisation figure of $177 billion. The counter recorded capital gains of 67.89% from the beginning of the year to date with a total traded value of $638 million, making it to the top 10 in terms of trade values for the year to date. The volume of shares traded during the period under review was 13.8 million shares.
EcoCash Holdings has featured consistently in the ZSE Top 10 Index and the counter is also a major constituent in the index. Ecocash Holdings is also a part to the following indices on the ZSE:
Information provided in this article is for educational purposes and does not constitute financial advice. You should obtain independent advice from a Registered Stockbroker or Financial Advisor before making any financial decisions.
Please note that past performance cannot be relied on as an indication of future performance. It is important for all prospective investors to carefully consider their financial situation and consult a financial advisor or stockbroker in order to understand the risks involved and ensure the suitability of their situation prior to making any investment decision.-The Herald
