Cassava Smartech Zimbabwe, trading as EcoCash Holdings Zimbabwe Limited, together with its long-term technology partner Comviva has won two silver awards at this year’s Emerging Payments Awards, recently held in London. The Emerging Payments Awards are the virtual gathering place for the payments community to celebrate progress, applaud achievements, and network.
The two entities won the silver for the Green financial inclusion initiative by mobile money platform EcoCash in the “Best Direct Account to Account Solution” and “Most Innovative Mobile or Financial Service Payments Solution” categories.
Climate change and its adverse impacts are growing concerns throughout the world, including in Zimbabwe.
EcoCash, is Zimbabwe’s largest mobile-money service, and is used by over 80% of the country’s adult population.
“Ecocash understands the importance of creating resilience to climate change among vulnerable people, the use of ‘clean’ energy sources, and reducing waste for a better environment. The EcoCash team recognises that the ubiquity and power of EcoCash can be leveraged to fight adverse effects of climate change, create a better environment and support Green Financial Inclusion efforts,” reads a statement by Comviva.
“EcoCash is driving ‘Green Financial Inclusion’ by launching innovative new features, services, and initiatives such as enabling humanitarian organisations and NGOs to disburse financial aid digitally via EcoCash to people impacted by climate change disasters, like droughts and floods, thus helping them to sustain and overcome food insecurity.”
The innovative mobile platform helped collect donations digitally for relief efforts during climate change-induced disasters, such as cyclone Idai, to help with rescue, relief, and rehabilitation for victims.
Cassava Smartech is also providing weather-index crop insurance to farmers to build resilience in the wake of climate change-induced droughts, helping them sustain themselves despite crop failure emanating from excessive or scarce rains.
It is encouraging the use of ‘clean’ solar energy by enabling customers to pay conveniently to solar companies for solar services using EcoCash. EcoCash is digitizing payments, reducing the use of paper vouchers and paper receipts, decreasing paper waste, and has also used ‘clean’ solar energy to power mobile money agent kiosks.
“At Cassava Smartech we are focused on serving where the need is greatest, and we are happy that our efforts and initiatives are being appreciated at global industry awards like Emerging Payments awards. Through EcoCash we are leveraging mobile technology to extend financial inclusion to all Zimbabweans and creating a cash-lite economy,” said Cassava Smartech Zimbabwe Chief Executive Officer, Eddie Chibi.
The award celebrates innovation and collaboration by recognizing companies that have made significant advances in how we pay today. The 2021 edition was held online and recognized the most innovative projects in up to 20 different categories.
