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Distributed Power Africa (DPA), the renewable energy company of Cassava Technologies, received two awards at the Zimbabwe Solar Week Leadership Awards 2022 held at the Holiday Inn in Harare on Thursday, 1 December.
The first award was in the Best Solar Project of the Year category and the second award was for their Chief Executive Officer in Zimbabwe, Divyajeet Mahajan, who was named CEO of The Year.
The Zimbabwe Solar Week Leadership Awards were hosted by Solar Quarter – one of the largest solar energy sector media in Asia-Pacific &amp; Africa.
The awards brought together over 150 top decision-makers in green power to discuss the vast business opportunities present in Zimbabwe’s growing energy sector. 
The event was attended by project developers, solar EPC companies, equipment manufacturers, service and technology providers, as well as consulting firms.
DPA was recognised for its accelerated rollout of renewable energy solutions under Mahajan’s leadership in Zimbabwe. Commenting on the awards, Mahajan said:
<blockquote>
We thank the organisers of the Zimbabwe Solar Week Leadership Awards for this recognition.
It is heartening to be recognised by industry peers. We are expanding our DPA footprint to support the increasing number of clients that are seeking more reliable, cleaner energy.
These awards give us further motivation to keep delivering solutions that increase efficiencies for our Commercial and Industrial customers, in whatever sector they are.
</blockquote>
Demand for alternative energy is growing across Africa, including in Zimbabwe, due to power shortages in the region.
This has seen DPA scaling up the deployment of energy solutions to a varied range of new clients, across sectors such as mining, retail, manufacturing, and agriculture.

Pindula News

Renewable Energy Company DPA Receives Two Solar Energy Awards

SasaiRemit, a digital money transfer provider and a business of Cassava Technologies, has introduced a consumer promotion called “Thatha amathousand”.
The company says the promotion affords thousands of its existing and new customers in South Africa an opportunity to win thousands of Rand worth of grocery vouchers by merely sending a minimum of the equivalent of US$50 from South Africa, to their loved ones in Zimbabwe. Mutsa Sibanda, SasaiRemit COO, said.
<blockquote>
We are seeing a progressive, exponential increase in remittance inflows from South Africa to Zimbabwe, estimated to be more than R6 billion this year.
This growth underscores not only the importance remittances currently have in supporting the Zimbabwean economy, being one of the most important sources of foreign currency inflows, but also their effect in providing relief to millions of Zimbabweans.
They rely on these funds daily to meet their needs, for sustenance, shelter, education, and healthcare.
Despite this, more than 50% of these funds are remitted via informal channels, which presents a security risk for the sender and receiver of the funds.
Therefore, this promotion is designed to inspire confidence in thousands of customers that Sasai Remit is committed to providing a safer, more accessible and affordable platform to send money home to their loved ones.
</blockquote>
Sibanda said the Thatha amathousand promotion is aimed at giving back to their customers who have experienced hardships brought on by the COVID-19 pandemic. He said:
<blockquote>
The customer is at the heart of our operation, and this initiative further accentuates the company’s long-standing commitment to building trust as well as giving back to its customers who have faced a particularly challenging year in the aftermath of the COVID-19 pandemic with a chance of unlocking grocery vouchers worth thousands of Rand for sending money to Zimbabwe.
</blockquote>
Sibanda said in doing this, SasaiRemit had joined forces with its payment channel partners, which include – Pick’nPay, Shoprite, PEP, Makro, Game, Checkers, Jumbo, Ackermans, Boxer, Builders, and Cambridge, from where customers would also redeem their grocery vouchers. He added:
<blockquote>
In addition, the SasaiRemit beneficiaries in Zimbabwe stand a chance of winning US$50 grocery vouchers when they collect their remittances at any Econet shops, EcoCash outlets, or Steward Bank branches.
</blockquote>
The two-month-long promotion runs from 27 October to 26 December 2022, where hundreds of vouchers will be won every week.
The voucher winners will be published weekly on SasaiRemit’s social media platforms.

SasaiRemit Launches Promotion For Its SA-Based Customers Who Send Money To Zimbabwe

Cassava Technologies’ solar subsidiary, <a href="https://dpaafrica.com/" rel="noreferrer noopener" target="_blank">Distributed Power Africa</a> (DPA) is set to build a 2.5MW solar installation after agreeing on a 25-year lease with Varun Beverages. 
The solar plant will be situated at Varun’s Pepsi Bottling factory in Harare and will reportedly produce 4.1GW of electricity annually, <a href="https://dotzedw.com/dpa-to-build-zims-biggest-rooftop-solar-plant-for-varun-beverages/?amp=1">dotzedw</a> reported citing Vijay Bahl, Chief Executive Officer of Varun Beverages Zimbabwe. Bahl said:
<blockquote>
We are pleased to partner with DPA on this milestone project. Implementing this solar-powered solution will effectively reduce our energy costs, enable us to manage consistent power supply and further pass the benefit of affordable Pepsi Products to Zimbabwe consumers. We are expecting a saving of approximately 2,500 tons of carbon emissions annually.
</blockquote>
The deal follows an agreement with Kenya’s Devki Group to install a 4.1MW solar installation earlier this month. 
The Cassava Technologies firm is pushing for energy independence on the continent to combat the shortfall by power utilities to meet demand.
The deal comes when the Zimbabwe Electricity Supply Authority (ZESA), the local power utility, has for years been failing to supply enough electricity.  
Over the years, the government has also awarded several licences to independent power producers (IPPs) to complement ZESA’s power generation, but very few have taken off and those that are producing electricity are struggling.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Cassava Technologies’ Subsidiary, DPA, Set To Build Zimbabwe's Biggest Rooftop Solar Plant

Zimbabwean billionaire and leading telecom tycoon <a href="https://www.pindula.co.zw/Strive_Masiyiwa">Strive Masiyiwa</a> has lost billions of dollars in the past four months due to a sustained decrease in the shares of his publicly traded companies.
The situation was also worsened by the depreciation of the Zimbabwean dollar.
Zimbabwe’s richest man, Masiyiwa has seen his net worth drop by $3.1 billion in nearly four months, from $4.4 billion on May 1 to $1.3 billion at the time of writing this story.
He has become the only African billionaire to have lost more than $3 billion in recent times, according to Forbes.
Apart from the depreciation of the Zimbabwean dollar, the $3.1-billion drop in his net worth can be attributed to the performance of his investments in <a href="https://www.pindula.co.zw/Econet_Wireless_Zimbabwe">Econet Zimbabwe</a> and <a href="https://www.pindula.co.zw/EcoCash">EcoCash Holdings.</a>
<h2>Masiyiwa’s fortune is made up of:</h2>
<blockquote>
1). his 52.85-per cent interest in Econet Zimbabwe, the country’s leading telecom services provider, and 
2). his 30-per cent stake in EcoCash Holdings, a diverse smart tech business that leverages digital and financial technologies to establish shared economies.
</blockquote>
<a href="https://billionaires.africa/zimbabwean-billionaire-strive-masiyiwas-net-worth-slumps-by-3-1-billion-in-nearly-four-months/">Billionaires.Africa</a> report that since May 1, the share prices of Econet Zimbabwe and EcoCash Holdings have decreased from ZWL331 ($1.02) and ZWL165 ($0.51), respectively, to ZWL117 ($0.36) and ZWL40 ($0.12).
Despite the drop in his net worth, the Zimbabwean billionaire has made a tremendous effort to expand the capacity and operations of his companies, particularly those with active operations in the technology sector.
Masiyiwa has announced ambitions to raise up to $500 million to expand his digital infrastructure and services businesses through Cassava Technologies, with the aim being to become the continent’s leader in digital services and solution providers.
Cassava Technologies’ intention to seek up to $500 million follows a $50-million investment from C5 Capital, a specialist venture capital firm that invests in cyber, space, and energy security.
Nearly one week ago, one of his companies, Liquid Intelligent Technologies, announced the acquisition of Telrad, an Israeli-based technology company with a presence in 13 countries across the Middle East, South America, the United States, Eastern Europe, and Asia. 
<h2><a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Strive Masiyiwa's Net Worth Drops By $3.1 billion In Nearly Four Months

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