Masiyiwa bounces back into exclusive group of Afri...

Masiyiwa bounces back into exclusive group of African billionaires

Zim Now Writer

Following a surge in the market value of his publicly listed companies on the Zimbabwe Stock Exchange, Zimbabwean billionaire businessman Strive Masiyiwa has once again joined the exclusive group of African billionaires with a net worth of US$2 billion or more.

Despite experiencing a US$100-million decline in his net worth between April 5 and April 15, Masiyiwa, Zimbabwe’s richest man, has made a swift recovery, with his net worth surging to US$2 billion in just 18 days, surpassing its previous value of US$1.9 billion.

The recent surge in Masiyiwa’s net worth has brought his year-to-date wealth gains to US$800 million, up from US$700 million just three weeks ago.

This solidifies his status not only as one of the world’s wealthiest Black billionaires but also as Southern Africa’s second-richest Black billionaire.

With a net worth of US$2 billion, Masiyiwa is also recognised as one of Africa’s most successful businessmen.

According to Forbes, he currently holds the 1 538th spot on the list of the world’s wealthiest people.

The Zimbabwean billionaire’s billion-dollar fortune is partly derived from his ownership of a 52.85-percent stake in Econet Zimbabwe, the country’s top telecom services provider, as well as a 30-percent stake in EcoCash Holdings, a versatile smart technology company.

His recent wealth gain of US$800 million can be attributed to the strong performance of his shares in these publicly traded companies, specifically Econet Zimbabwe and EcoCash Holdings.

Through his interest in Econet Global Limited, a diversified telecom group with operations and investments in Africa, Europe, South America, and the East Asia-Pacific Rim, the Zimbabwean billionaire also has a US$145-million stake in Liquid Intelligent Technologies.

In addition to his various investments, he and his wife Tsitsi are also the founders of the Higherlife Foundation, which provides support for orphaned and impoverished children in Zimbabwe, South Africa, Burundi, and Lesotho.

Among his other assets are stakes in mobile phone networks in Burundi and Lesotho, as well as investments in fintech and power distribution firms across Africa.