Strive Masiyiwa who recently turned 61 in January, announced his retirement as chairman and director of Econet Wireless at the close of the Zimbabwe Stock Exchange on Friday, February. 25. The billionaire will be retaining more than 50% stake in Econet Wireless Zimbabwe Limited, the company he listed on the Zimbabwe Stock Exchange in 1998.
Now, 23 years later, Masiyiwa leaves behind a legacy that is relatable to every entrepreneurial Zimbabwean, a legacy that shows a home grown African start-up can evolve to be a billion dollar company with the right level of perseverance and hard work.
A statement from the press release reads, “The Board of Directors of Econet Wireless Zimbabwe Limited would like to announce that Mr Strive Masiyiwa has retired from the Board with effect from 1 February 2022.”
“It is through his leadership, dedication and perseverance that the Company has grown to become one of Zimbabwe’s largest and most successful businesses,” the company said.
What Masiyiwa plans to explore now
Since the news of Masiyiwa’s retirement swept across online news outlets, many are wondering what the billionaire philanthropist will do now. Expectedly, Maiyiwa will focus on his philanthropy that has changed the lives of so many Zimbabweans and Africans.
Econet Wireless Zimbabwe Limited is the largest mobile telecommunications, technology and digital solutions company in Zimbabwe. Over the past 20 years Econet – which is by far the market leader in its industry with over 12.4 million connected customers – has invested millions of US dollars in deploying the widest and most robust 2G, 3G and 4G networks in the country.
Through its solid asset base, strong leadership and astute investment in talent, Econet has consistently led in innovation, product development and service delivery, enabling it to maintain and consolidate its market leadership position.
The company was the first to launch 3G services in 2009, the first to successfully launch mobile money services in 2011 under the name EcoCash, the first to launch mobile 4G in 2013, and the first to launch mobile insurance (EcoSure), among many other products and services it has rolled out.
With such a dazzling array of accolades under Econet’s belt, questions arise as to who has the mettle to lead the company now. Regardless of who the top choice may be, Masiyiwa has steered the company to where it is today, and his feedback and opinions are likely going to play a critical role in his successor.
