Strive Masiyiwa, a telecoms entrepreneur, has approved plans for an industrial and IT park in Harare, Zimbabwe, including a new data centre, through his mobile firm Econet's newly founded tower and infrastructure firm, InfraCo.
Econet recently outlined a process for spinning off its mobile tower and related infrastructure company to unlock value.
To attract international investors, the business will be listed on the Victoria Falls Stock Exchange, which only accepts US dollars.
Econet CEO Douglas Mboweni stated in a statement that the industrial and IT complex project is "one of several major initiatives that have already received approval" from the company's founder.
The industrial centre will be built on 300 hectares of land near Harare International Airport and will be powered by a 100 megawatt solar plant.
“Our vision is to create infrastructure, such as power and water facilities, needed for a modern industrial park. This will make it easier for investors to come in, take advantage of the location, and create jobs,” said Mboweni.
The decision to unbundle its tower unit follows the unbundling of tower business units by various African mobile providers and their sale to specialist firms that operate mobile base stations.
Econet stated that its regional peers had "already separated and realised value from their tower infrastructure," whereas it still owns its tower and other passive equipment.
“The creation of Econet InfraCo aligns with international best practice, whereby mobile network operators separate passive infrastructure into a dedicated infrastructure company. This approach enables clearer visibility of asset values, focused capital allocation, and a distinct operational strategy for infrastructure deployment and management,” Econet said this week.
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