#Luminaries – Strive Masiyiwa

Strive Masiyiwa (born 29 January 1961) is a London-based Zimbabwean billionaire businessman and philanthropist. He is the founder and executive chairman of international technology groups Econet Global and Cassava Technologies.

Masiyiwa has provided scholarships to more than 250,000 young Africans over the past 20 years through his family foundation. He has supported more than 40,000 orphans with educational initiatives and sponsored students at universities in America, the United Kingdom, and China.

Masiyiwa returned to his native Zimbabwe in 1984 after a 17-year absence. After working briefly as a telecoms engineer for the state-owned telephone company, he quit his job and set up his own company from saving amount of US$75 monthly from his salary.

He built a large electrical engineering business. The emergence of mobile cellular telephony led him to diversify into telecoms, but he soon ran into major problems when the Zimbabwean government of Robert Mugabe refused to give him a license to operate his business, known as Econet Wireless.

Masiyiwa appealed to the Constitutional Court of Zimbabwe, on the basis that the refusal constituted a violation of “freedom of expression”. The Zimbabwean court, ruled in his favour after a five-year legal battle, which took him to the brink of bankruptcy. The ruling, which led to the removal of the state monopoly in telecommunications, is regarded as one of the key milestones in opening the African telecommunications sector to private capital. The company’s first cellphone subscriber was connected to the new network in 1998.

Masiyiwa listed Econet Wireless Zimbabwe in July 1998 on the local stock exchange as a gesture of thanks to reward the thousands of ordinary people who supported him during his long legal battles against the Zimbabwean government. Today, Econet Wireless Zimbabwe has gone on to become a major business that dominates the Zimbabwe economy. It is currently the second-largest company in Zimbabwe by market capitalisation.

In March 2000, fleeing persecution from the local authorities, Masiyiwa left Zimbabwe, never to return to the country, and moved first to South Africa, where he founded The Econet Wireless Group, a new and completely separate organisation to the listed Zimbabwean entity.

Some of the key businesses that he established with partners included Econet Wireless International, Econet Global, Mascom Wireless Botswana, Econet Wireless Nigeria (now Airtel Nigeria), Econet Satellite Services, Lesotho Telecom, Econet Wireless Burundi, Rwanda Telecom, Econet Wireless South Africa, Solarway, and Transaction Processing Systems (TPS). The company he created is known to have operations and investments across Africa plus the United Kingdom, Europe, US, Latin America, and New Zealand, United Arab Emirates, and China.

After more than ten years in South Africa, Masiyiwa moved to London. He still retains significant business interests in Africa.

Econet Global

Econet Global (Econet) is a privately held international technology group with business operations and investments in more than 20 countries in Africa, Latin America, The United Kingdom, Europe, China, United Arab Emirates (UAE), and New Zealand. Two listed entities are its Zimbabwean subsidiary, Econet Wireless (1998) and Cassava Fintech (2018).

Masiyiwa owns over 50% of publicly traded Econet Wireless Zimbabwe.

Masiyiwa also has had interests in the United States of America (USA). He has partnered with one of America’s leading telecoms entrepreneurs, John Stanton, in a venture called Trilogy International Partners, which built New Zealand’s third mobile network operator known as “2 Degrees”.

One of Masiyiwa’s most successful ventures is the London-based privately held Liquid Telecom Group (now Liquid Intelligent Technologies) Africa’s largest satellite and fibre optic business spanning the continent with more than 100,000 kilometres of cable from Cape Town to Cairo and also connecting through many countries from east to west Africa.

Other activities of Econet include digital enterprise networks, cybersecurity and cloud services, data centers, fintech, digital platforms, and renewable energy.