Read time: 3 minutes

Masiyiwa tight-lipped about ‘next business chapter’

By , Sub Saharan Africa Business, Tech, News and Development Journalist
Zimbabwe , 28 Feb 2022
Strive Masiyiwa.
Strive Masiyiwa.

Zimbabwean billionaire and telecommunications tycoon, Strive Masiyiwa has hinted at new “key business moves” for his group of tech companies after retiring from the board of Econet Wireless.

Masiyiwa has sat on the board of Econet - the biggest Zimbabwean telecommunications group - for the past 30 years.

After setting up Econet, he invested in fibre internet company Liquid Intelligent Technologies, Africa Data Centres and super application in addition to other mobile network enterprises in several African countries.

Masiyiwa said the new developments were in pursuit of dreams he has held over the past 40 years, although he did not provide further details.

“Although I will not be posting about it, I would still like you to follow some key business moves I will be taking over the next few weeks, and months,” Masiyiwa said on his Facebook page which he will close to open a new platform on the Sasai social media platform.

“I have an opportunity to do some things with my business that have been my dream for almost 40 years now,” he said in a Breaking News Ahead hint after a Facebook post to his over five million followers on Sunday.

He advised his followers to “watch Cassava Technologies, Sasai Fintech, ADC, Distributed Power Africa and Vaya Africa” for new developments.

Charles Banda, company secretary for Econet said in a notice: “The Board of Directors of Econet Wireless Zimbabwe Limited would like to announce that Mr Strive Masiyiwa has retired from the Board with effect from 1 February 2022.”

“Mr Masiyiwa is the founder of Econet Wireless Zimbabwe Limited and the Econet Group and has been on the Board of Econet Wireless Zimbabwe Limited since inception of the Company in 1993 and its subsequent listing in 1998.”

The company said it was through Masiyiwa’s leadership dedication and perseverance that had contributed to the growth of the company into Zimbabwe’s largest telco. Last week, Econet Wireless launched 5G internet services in Zimbabwe, announcing that it intends to expand the service in the next few months throughout the country.

Local tech analyst Moses Kemibaro said: “Masiyiwa is such an inspiration! It took lots of grit to get Econet up and running with intense opposition from Zimbabwe's Government three decades ago. Today his interests go well beyond Econet, with a myriad of businesses … the next chapter begins.”

Daily newsletter