Three of the founding Econet board members, Mr Douglas Mboweni (EWZ CEO) and Mrs Tracy Mpofu (EWG CFO and Cassava Chairperson), as well as Econet founder and Group Chairman Mr Strive Masiyiwa, have stepped down from the Cassava board.
The move will be seen as increasing the independence of the board from Econet family and likely to be welcomed by investors, as they independently operate.
Cassava Smartech Zimbabwe held its inaugural AGM yesterday, 10 months after successfully listing on the Zimbabwe Stock Exchange following its demerger from Econet Wireless Zimbabwe.
All the agenda items and proposed resolutions of the AGM, as proposed in the public notice that the company published over 21 days ago, were passed unanimously without opposition.
They have been replaced by Dominic Musengi and Christopher Maswi who were elected into the board.