Zimbabwe gets its first billionaire

Strive Masiyiwa

Strive Masiyiwa

Telecom tycoon Strive Masiyiwa has become Zimbabwe’s first billionaire. According to a report by Forbes, Mr Masiyiwa, 57, is now worth $1,7 billion. Mr Masiyiwa controls Econet Group, a Zimbabwe-listed mobile phone company that also has investments in financial services, insurance, e-commerce, renewable energy, education, Coca-Cola bottling, hospitality and payment gateway solutions.

Econet also has a Pay television outfit, Kwesé TV, which is already competing favourably across Africa with Naspers’ DSTV. Shares of the company have surged in value over the past year. In July last year, Liquid Telecom, a subsidiary of Econet Group successfully raised $700 million in a bond and term loan financing package from international financiers.

Mr Masiyiwa founded Econet in 1993, but was granted a telephony licence by the Zimbabwean Government in 1998, at a time when 70 percent of the country’s inhabitants had never heard a ringtone. He and his wife, Tsitsi, are the founders of the Higher Life Foundation, which pays school fees for over 40 000 students across the Primary, High school and Tertiary levels.

In February 2013, Mrs Masiyiwa and her husband established the Ambassador Andrew Young Scholarship, a $6,4 million dollar scholarship fund that sends African students to attend the Morehouse College in the United States.

The fund is named after Ambassador Andrew Young, a former United States Ambassador to the United Nations, who is renowned for his vanguard role in the international Civil Rights Movement.

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  • Rasta!

    ZANU PF forced him to live in exile..shameful…a legit businessman who can’t even live in his own country…..the ZANU PF legacy for you.

    • Cde

      He is nt legit he cut a deal with Zimra ..Zimra shld tell us wat happened to the 300 million prejudice of tax money in duties which was swept under the carpet by Zimra Board headed by Bonyomwe .he must own up and pay the duties he was suppose to pay..Strive l say u a one of the Externalist of Forex ..come clean..Did u pay Pasi to avert duties …

  • jojo

    can you give us examples please?

    • eliah

      Chanakira comes to mind and we used to see him with a white lady personal assistant up and down and chartering flights to go and watch Liverpool vs Man U matches but all that is history.

  • SCOOBY DOO

    strive wakaromba kkkkkkk

  • Cde

    He must come with the millions he owes Zimra ..unless Zimra management was paid to be silent abt the issue ..wat happened to the 300 millions He was suppose to pay to Zimra

  • Cde

    Its in the sunday mail..its public data …this guy yes he stood up to do good but they skeletons hidden in closets .Zimra Board knows the case ..it was blocked by someone becoz he was paid offshore .Ask any Zimra officer at the Forbes border and Beit they all know that someone was oiled to shut up….

    • Kudakwashe Kamukosi

      WHATS WRONG with us AFRICANS we always fight against DEVELOPMENT

  • Daluxolo Mbele

    No, he’s just plain silly.

  • mr dee

    Saka anaWicknel nanaPhidza nekutaurisa kwavo kuya havasati vabata billion??

    • Tendekayi.TE

      Musadheerere billion baba, it’s a ton of money. one million chaiyo togona kukushayai blaz

  • DontLieToUs

    Iya ina Chatunga

  • Zim-Resident

    Varume i think $1.7 Bidza inobatwa nevanhu vari crook-way. Fair – Fair hayibatike. So the rest on Strive mongopedzisawo mega……….(My own opinion)

  • sky

    Maybe I am chipindura mubvunzo.

  • Cde

    Someone was paid to throw files mu pit toilet ..kkkk watch the space 28 feb is approaching if he is nt on the list for externalisation i will personally arrest him if he ever set foot here..he will give me back mari yangu ye Ecosure .

  • Greeforce

    You are lucky man. We are following behind. We will get there sooner.

  • Obedient Son of Zimbabwe

    why are you insulting our children?

  • Caleb312

    Congrats to Strive, for making it to the list, but am sure, there are some Zim Billionaires, who are not necessarily on that list.

    • Tendekayi.TE

      Probably 15 billionaires.