Founder will retain a more than 50% stake in the company he listed on the Zimbabwe Stock Exchange in 1998
Zimbabwean telecommunications billionaire and founder of Econet Wireless Zimbabwe Strive Masiyiwa has retired from the company he started to pursue new opportunities. Picture: BLOOMBERG
The “vision caster” has moved on, Douglas Mboweni, CEO at Econet, told reporters in Harare on Friday. “He has stepped up and there are more portfolios he has to attend.” Since listing, Econet’s subscribers have risen to 13.2-million from 32,000 and the company is valued at $1.1bn. Masiyiwa, whose telecommunications company operates in Africa and Europe, has had his run-ins with Zimbabwe’s government, which he has seen as pursuing policies detrimental to his wireless business.