Zimbabwe’s Strive Masiyiwa Now a Billionaire

Telecoms tycoon Strive Masiyiwa, 56, is now worth $1.7bn according to Forbes.

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, Kwese TV, which is already competing favorably across Africa with Naspers’ DSTV. Shares of the company have surged in value over the past year.

• He owns just over 50% of the publicly traded Econet Wireless Zimbabwe, which is one part of his larger Econet Group.
• Masiyiwa also owns just over half of private company Liquid Telecom, which provides fiber optic and satellite services to telecom firms across Africa.
• His other assets include stakes in mobile phone networks in Burundi and Lesotho, and investments in Fintech and power distribution firms in Africa.
• He and his wife Tsitsi founded the Higherlife Foundation, which supports orphaned and poor children in Zimbabwe, South Africa, Burundi and Lesotho.

Masiyiwa has used his wealth to provide scholarships to over 100,000 young Africans over the past 20 years through his family foundation. He supports over 40,000 orphans with educational initiatives, as well as sponsoring students at universities in America, The United Kingdom, and China. Over the last few years, Masiyiwa has devoted his time to mentoring the next generation of African entrepreneurs through his Facebook page, which has a growing followership of over 2.5million young people from across the continent. Facebook has identified his platform as having the most engaged following, of any business leader in the world.

Masiyiwa’s international board appointments include The Rockefeller Foundation, US Council on Foreign Relations International Advisory Board, the Asia Society, the Africa Progress Panel (APP), Alliance for a Green Revolution in Africa (AGRA), The Micronutrient Initiative of Canada, Grow Africa, The African Union’s (AU) EBOLA Fund, Morehouse College Board, and The Pan African Strategic Institute.

AFRICA BUSINESS FELLOWSHIP

The Africa Business Fellowship is a partnership between Econet, African Leadership Network (ALN), and Management Leadership for Tomorrow (MLT). The program will match young American business professionals with paid 3-6-month placements in African companies. Its purpose is to strengthen relationships between the African and American business communities and provide future American business leaders with the hands-on experience they need to truly understand business in Africa. We believe that by exposing high-achieving American professionals to African business at this stage in their careers, we are setting the stage for increased American-African investment and more meaningful collaboration.

The Africa Business Fellowship is an unparalleled opportunity for American professionals to gain invaluable insight and hands-on experience in African businesses. It is a career development opportunity, an inter-cultural exchange program, and a networking platform. The ABF will develop high-potential American business professionals into leaders who have a sophisticated understanding of how business is done in Africa. In the long run, it will transform business relations between the United States and Africa.

Philosophy

The ABF represents a radically different approach to intercultural exchange that places value on Africa’s contributions to shaping global business practices.

Last year, Africa was the fastest growing region in the world. Global foreign investment flows into the region now outstrip official aid. Increasingly, entrepreneurs and investors are looking for ways to tap into the continent’s potential. By 2035, the region is set to have the largest working-age population of anywhere in the world – bigger than China or India.

For Africa to take full advantage of this growth, a dynamic private sector and an increase in international trade are essential, and investment in Africa must be robust, stable, and beneficial to all involved. Both Africans and non-Africans alike must have a deep understanding of the African business climate and a sophisticated awareness of the continent’s unique challenges and opportunities. The mission of the ABF is to develop leaders who have that knowledge and – more importantly – a passion for business development in Africa.

The fellowship aims to increase affinity for this collaboration between African and American businesses, and expose future American business decision makers to the continent early on in their careers.

The ABF has three main objectives:

Fellows

We are looking for innovative and driven professionals who have a deep passion for learning about business in Africa. The ideal candidate will have an MBA and/or extensive business experience. We welcome fellows from a variety of business backgrounds, such as consulting, finance, strategy, general management, marketing, and/or entrepreneurship. It is not necessary for fellows to have previous international experience, but we look for people who demonstrate a genuine interest in African business.

As part of the program, fellows will receive a living stipend, housing, health insurance, assistance with visa applications, and additional support.

PROGRAM Details