Harare-Through its business units, Distributed Power Africa, Africa Data Centers, and Liquid Intelligent Technologies, Cassava Technologies has committed a total of R4.5 billion(US$247,68million) in investment in South Africa. The declaration was made in support of South African President Cyril Ramaphosa's initiative to encourage investment in the nation during the fifth South Africa Investment Conference (SAIC).

Cassava, which has operations in Africa, the Middle East, Europe, the USA, and Latin America, will continue to offer services and goods in South Africa through this investment through its business units for renewable energy, cloud & cyber security, data centers, and broadband connectivity.  Cassava Technologies was founded by Strive Masiyiwa and is based on the success and track record of Econet, one of the forerunners of the mobile telecoms sector in Africa. More than 20 years ago, Strive Masiyiwa set out to connect Africa.

South Africa, with a developed and expanding ICT sector, accounts for the greatest share of Africa's industrial GDP. According to Hardy Pemhiwa, President & Group CEO of Cassava Technologies, “the country's distinctive combination of highly developed first-world economic infrastructure and a stable macro-economic environment affords businesses like ours a conducive investment environment in which we can work with the government to drive economic development and create jobs”  The major projects included in Cassava's investment commitment include the growth of the Liquid Intelligent Technologies fiber network, the expansion of the capacity and footprint of Africa Data Centres, the improvement of cloud and cyber security capabilities, and the deployment of clean, renewable energy by Distributed Power Africa in South Africa.

One of Africa's most appealing businesses for investment and one that is poised for growth right now is the $6.75 billion ICT sector in South Africa. The world bank estimates that South Africa now has a 70% internet penetration rate, having increased by a factor of two over the previous ten years. According to the Independent Communications Authority of South Africa, 97.7% of the country's population had access to 4G/LTE in 2021, putting South Africa years ahead of its counterparts in sub-Saharan Africa.   In line with Cassava's vision of a digitally connected future where no African is left behind, its investments will help to establish South Africa as a desirable investment location and enable greater inclusion of all South Africans.

Considering that Cassava Technologies also has strong footprints in Zimbabwe, we only expect added investment in the country as well as technology is now a strong anchor for modern economies.

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