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Performance Highlights

HY – 2024

76% of our revenue was driven by the FinTech business, namely EcoCash and Steward Bank, followed by InsurTech at 20%, and lastly, Digital Platforms at 4%.

EcoCash HY2024 Revenue: Up 40%
EcoCash HY2024 Gross Profit: Up 20%
EcoCash HY2024 EBITDA: Up 665%

The business is focused on attending to all our customers’ financial services needs. This is affirmed by our continued investments in digital transformation, leveraging on smart technologies, aimed at improving financial inclusion.

Sherree Shereni, Board Chairperson

Simbisa Brands

EcoCash Holdings Zimbabwe

EcoCash Holdings Zimbabwe is a technology Group that leverages digital and financial technologies to build shared economies, drive financial inclusion and promote economic empowerment.

We envision a digitally connected future that leaves no Zimbabwean behind by providing innovative solutions that meet the needs of ordinary people.

Our values are integrity, service, responsibility and accountability.

Company Information

Registered Name EcoCash Holdings Zimbabwe Limited (EHZL.zw)
ISIN ZW0009012437
Ticker Code EHZL.zw
Sector Technology
Stock Exchange Zimbabwe Stock Exchange
Chairperson Sherree G. Shereni
Chief Executive Officer Edmore Chibi
Company Secretary Charmaine Rose Daniels
Transfer Secretary First Transfer Secretaries (Pvt) Ltd (zw)
Year End February
Year Founded 2012
Year Listed 2018
Website https://ehzlinvestor.com/

3 Reasons to Consider Investing in EcoCash Holdings Zimbabwe

Unparalleled

We have an unmatched portfolio of integrated and inter-related Smartech products and services, buoyed by a rich ecosystem of partners connected to our digital platform i.e. banks/ agents/ merchants/ aggregators

Strategic, world class partnerships

We leverage exclusive licensing arrangements with best-in-class global Tech companies to bring world-class use cases on our platforms, designed to leverage latest technologies

Passionate about innovation

We have world – class In-house R&D capabilities, with unparalleled access to big data sources, leveraging own and 3rd-party networks in Zimbabwe. Our DNA has seen us developing unique/ award-winning innovations that address specific customer needs in the markets we serve

Our Share Price in Action

Share Quote

ZiG cents31.04
0.68 / 2.23%
 
Year to date  340.17%
52 Week Change  1,686.22%
 
52 Week Low 52 Week High
1.74 34.01
Company alerts available

Latest Activity

Trade Date April 25, 2024
Bid 31.04
Ask 30.36
Sales ZiG cents 31.04
Volume Traded 6,900
Value Traded ZiG 2.1K
Liquidity (12m) ZiG 6.6M

Market Info

Sector Technology
Exchange Zimbabwe Stock Exchange
ISIN ZW0009012437
Year End February
Founded 2012
Listed 2018
Chief Executive Officer Edmore Chibi

Fundamentals

Shares 4,194,797,929
Market Cap ZiG 1.3B
P/E 552.23
Div. Yield 0.00%
EPS ZiG cents 0.06
P/B Ratio 13.80
* TTM

Investor News

Documents and Reports

EcoCash invites you to review its latest published financial reports: half year reports, annual reports / reference documents. All the listed documents may also be downloaded for further perusal.

Financial Summary

The facts that affect EcoCash’s underlying value.

 28 Feb 2328 Feb 2228 Feb 2128 Feb 2028 Feb 19
Revenues101,249,592,00096,759,866,00023,750,299,00019,287,970,0001,107,714,000
Attributable PAT(3,859,038,000)3,631,998,000(1,488,633,000)(1,179,881,000)56,251,000
Shareholders Funds51,591,651,00037,624,241,0008,390,631,0005,565,790,0001,240,400,000

Corporate Governance

The Board recognizes that in order to effectively play its role of setting out the Group’s strategy and reviewing the Group’s strategic direction, it must observe good corporate governance and comply with emerging global governance requirements. It is the Board’s responsibility to ensure the Group observes generally accepted principles of corporate governance as enunciated in the various codes on corporate governance as well as compliance with laid-down regulatory obligations. The Board is fully cognisant of the standards set out in the King Codes and the Zimbabwe National Code on Corporate Governance and ensures that these are complied with in the Group.

As a listed entity on the Zimbabwe Stock Exchange the Group is obliged to comply with the latter’s Listing Rules. The Group’s operations are also subject to laws and regulations imposed by government and local authorities. The Board ensures that every effort is made to comply with these laws and regulations to the latter. The Board meets four times a year.

Board composition, balance and independence

The Board has ten members: two executive directors, three non-executive directors and five independent non-executive directors. The Board is chaired by an independent non-executive director. By ‘independent non-executive’ is meant independence from management and absence of any business relationship which might have an impact on the director’s independence of judgment and ability to act in the best interests of the Group.

The Articles of Association and the Companies Act (Chapter 24:03) provide that at least one third of the directors must retire at every annual general meeting and, if eligible, seek re-election.

Executive Directors

  • Edmore Chibi (Chief Executive Officer)
  • Theresa Nyemba (Finance Director)

Non-Executive Directors

  • Hardy Pemhiwa
  • Elizabeth Masiyiwa
  • Darlington Mandivenga

Independent Non-Executive Directors

  • Sherree G. Shereni (Chairperson)
  • Zienzile Dillon (Deputy Chairperson)
  • Michael Bennett
  • Christopher Maswi
  • Dominic Musengi

The Board has in place committees which assist it in dealing with issues in specific areas. The committees are governed by terms of reference set and approved by the Board. The committees report to the Board and make recommendations to it on matters dealt with by them. The Chairperson of each committee presents a report to the Board on behalf of the committee at every board meeting. Apart from dealing with specific matters delegated to them by the Board, the committees’ existence ensures that high standards of corporate governance are maintained in the Group.

The said committees are as follows:-

Audit Committee

The Committee focuses on the quality of the Group’s financial reporting and the effectiveness of the Group’s systems of internal control and, in conjunction with the Risk Committee, risk management processes. It also oversees the integrity of internal audit and assurance and manages the relationship with the Group’s external auditors. The latter responsibility entails ensuring that the external auditors provide an effective and independent audit.

The Committee’s ultimate goal is to ensure the integrity of financial reporting and implementation of sound internal controls and risk management. The Committee considers and reviews reports from management with a view to assessing the quality of the financial reporting and compliance with disclosure requirements.

The external auditors attend the committee meetings to present their report on key matters and any findings deemed necessary to bring attention to the Committee. In terms of overseeing internal audit, the Group Chief Risk Officer attends the meetings and has direct communication lines with the Committee Chairman.

The Chairman and one member of the Committee are independent non-executive Directors, while one member is a non-executive Director.

Risk Committee

The Committee’s primary role is to oversee the effectiveness of risk and compliance management within the Group. The identification and management of risk are central to the Group’s objective of creating long-term shareholder value. Risks have the potential to impact the Group’s overall performance as well as its reputation. The Committee plays the critical role of identifying, analysing and assessing risk issues in order to prevent or minimize the likelihood of that impact.

The Committee co-ordinates and reviews information on risk management and ensures that the risk management systems are operating effectively. It reviews on behalf of the Board both operational and strategic risks with a view to ensuring that these are addressed timeously and effectively.

The Committee also monitors the Group’s compliance record, the objective being to ensure the Group meets its legal and regulatory obligations and in the process instill a culture of compliance and integrity.

The Group’s Chief Risk Officer attends the committee meetings and presents reports on risk management.

Remuneration Committee

The Committee’s overall responsibility is to review, on behalf of the Board, the Group’s remuneration structure and employment policies with a view to ensuring that the Group provides competitive rewards to attract, motivate and retain the required skills. During the year the Committee reviewed and recommended to the Board for approval, various incentive schemes aimed at retaining critical skills within the Group as well as alleviating the difficulties brought about by the continuing harsh environment.

The Committee also oversaw the implementation of a performance management programme; the programme entails an assessment of the individual’s performance, measuring this against performance targets. The objective of the programme is to not only achieve best performance by employees but, in the process, create long-term shareholder value. The programme also provides the opportunity to identify skills and capabilities for further development.

As part of its aim to enhance skills within the Group, the Committee also oversaw and approved a training and development programme. Under the programme various leadership and career progression development initiatives were implemented. Efforts were also made to address gender balance by increasing female representation at leadership levels. The Committee is chaired by a non-executive Director.

The Group’s Chief Human Resources Officer attends the committee meetings and presents reports on the Group’s employment profile.

Social and Ethics Committee

The Committee assists the Board in monitoring the Group’s social development programmes and initiatives, in particular the Group’s progress in relation to social investment, especially investments in community programmes. It also monitors ethics and integrity within the Group, having regard to the need to maintain the highest standards of governance and the strategic direction of the Group.

The Committee also oversees and monitors the Group’s Safety, Health and Environment (SHE) issues and performance, both in terms of its own policies and in terms of compliance with laid-down regulatory requirements. Alongside the Audit Committee, the Committee also oversees and monitors certain areas of market disclosure; it reviews the Group’s compliance with market disclosure obligations and sets guidelines for the release of information.

Three non-executive directors make up the Committee.

The Board’s principal role is to formulate the Group’s strategy and review its strategic direction. It also maintains oversight of the performance of management with a view to ensuring the successful performance of the business.

Apart from the scheduled meetings at which it reviews the Group’s performance, the Board has access to senior management through which Directors can receive regular updates on the Group’s performance.

Directors also have direct access to the services of the Group Company Secretary who is accountable to the Board and who, through the board Chair, ensures that the Board and its committees follow and maintain sound corporate governance procedures. The Board is responsible for the preparation and presentation of the Group’s financial statements. It is the Board’s responsibility to ensure that the financial statements give a true and fair view of the Group’s state of affairs at the end of each financial period.

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Contact us

EcoCash Holdings Zimbabwe Limited (EHZL.zw)
Address

1906 Liberation Legacy Way
(formerly Borrowdale Road),
Borrowdale, Harare

Phone
+263 242 486 121

Transfer secretary

First Transfer Secretaries (Pvt) Ltd (zw)
Address

1 Armagh Avenue, Eastlea
P.O. Box 11
Harare, Zimbabwe

Phone
+263-242-782869/72
Website
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