Econet Wireless Zimbabwe has lured back experienced executive Fayaz King to head its newly carved-out infrastructure arm, Econet InfraCo. His return coincides with the telecoms giant’s planned Victoria Falls Stock Exchange (VFEX) debut, designed to unlock value from its network and property assets.
King’s appointment, effective March 1, 2026, comes at a pivotal restructuring moment for Zimbabwe’s largest telecoms operator, which is separating its infrastructure portfolio into a standalone entity to attract dollar-based investment and sharpen operational focus.
In a circular to shareholders, Econet outlined the financial strength underpinning the move, revealing that InfraCo, previously an internal division, generates nearly $150 million in annual revenue and more than $50 million in EBITDA, while carrying no debt. The business has been valued at close to $1 billion, reflecting the size and resilience of its tower, power and real estate portfolio.
“Econet InfraCo generates revenues of almost $150 million and EBITDA of more than $50 million,” the circular states, adding that the entity’s debt-free structure positions it strongly for a hard-currency VFEX listing.
Often likened to a telecom infrastructure real estate vehicle, InfraCo leases towers, fibre, energy systems and commercial property, assets that Econet accumulated partly as a hedge during Zimbabwe’s hyperinflationary cycles. The separation allows InfraCo to independently develop or monetise these holdings while providing stable, annuity-style revenue streams attractive to infrastructure investors.
King returns to the Zimbabwean telco after global leadership roles at the United Nations, including serving at Assistant Secretary-General level at UNICEF, where he oversaw digital transformation and innovation programmes across more than 150 offices worldwide. His earlier tenure as Econet COO gives him operational familiarity, which will be critical to scaling a capital-intensive infrastructure platform.
The VFEX listing, subject to shareholder approval, forms part of Econet’s broader migration from the Zimbabwe Stock Exchange to a VFEX-managed over-the-counter structure, aligning the group with dollar-denominated capital markets increasingly favoured by regional investors.
For Zimbabwe’s telecoms sector, the move mirrors a continent-wide shift toward infrastructure specialisation, where operators unlock balance sheet value while building scalable platforms capable of serving multiple digital ecosystems.
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