Masiyiwa Joins Africa’s Rich List

In its inaugural Forbes Africa’s 40 richest, the South African based Masiyiwa was placed 34 on the list topped by Nigerian business mogul, Aliko Dangote. According to the survey, Masiyiwa is worth US$280 million together with South African actuary, Adrian Gore.

Forbes magazine has earned a reputation in analysing the wealth of business executives. Its findings are widely accepted in the business arena.

The 50-year old Masiyiwa has been in business since 1986. He came to prominence when he fought a five year constitutional battle for his company to be given a mobile licence.

His company, Econet Wireless was then given a licence and started operating in 1998.

Econet commands over 70% of the market share with a subscriber base of over 5 million.

The mobile operator is one of the largest capitalised companies on the Zimbabwe Stock Exchange.

Eager to expand his tentacles across the continent, Masiyiwa relocated to South Africa where he set up Econet Wireless.

Econet Wireless is now a global telecommunications group with operations, investments and offices in more than 15 countries in Africa, Europe, USA, Latin America and Asia-Pacific.