Strive Masiyiwa.

A 750% surge in the value of shares of Econet Wireless has helped boost the net worth of Zimbabwean telecommunications magnate, Strive Masiyiwa to US$2.7-billion in 2022.

According to a Forbes report, Masiyiwa, who founded Econet Wireless in Zimbabwe and has since expanded into datacentres, telecommunications and fibre optic internet provision across Africa, is the “biggest gainer” of the continent’s richest entrepreneurs.

The report showed that Masiyiwa’s net worth jumped 125%, driven by the value surge in shares on the Zimbabwe Stock Exchange.

Telecommunications and tech companies, in which Masiyiwa has significant interests, include Liquid, Africa Data Centres and mobile firms across several countries in Africa.

“Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750% in the past year, helping to drive up the size of his fortune,” notes the report.

Econet said this month that data and voice traffic grew by 43% and 6% respectively during the quarter to the end of November compared to the previous contrasting period. As usage of its network grows, the company commissioned 80 new 4G sites as part of its LTE network densification program.

The Forbes report shows the net worth of Africa’s 18 billionaires surging to $84.9 billion this year, a massive 15% increase from 2021.

The fortunes of Masiyiwa are in contrast to fellow tech and telecom billionaire, Koos Bekker of South Africa whose vet worth dropped from US$2.8-billion in 2021 to US$2.7-billion this year.

Bekker’s worth dropped “as the share prices of consumer Internet firms Naspers and Prosus fell more than 20% each” during the past 12 months.

Aliko Dangote of Nigeria topped the list for the 11th straight year, with his net worth jumping from US$12.1-billion to almost US$14-billion.