🇿🇼 Strive Masiyiwa: The Billionaire Who Built an African Telecoms Empire

Strive Masiyiwa is one of Africa’s most prominent business figures—a Zimbabwean billionaire, telecommunications mogul, and noted philanthropist. His journey from an aspiring engineer to the founder of the international technology group Econet Global is a testament to perseverance and visionary leadership.

💰 The Man and His Fortune

• Estimated Net Worth: As of January 2025, Forbes estimates his net worth at approximately US$2.7 billion. This fluctuating figure consistently places him among Africa’s wealthiest individuals.

• Business Interests: His primary business interests lie in Telecoms (Econet Global, Econet Wireless Zimbabwe, Mascom Botswana, Liquid Intelligent Technologies) and Banking/Fintech (Cassava Technologies, EcoCash Mobile Banking).

• Residence: He and his family primarily reside in London, England, managing a global portfolio, with other residences in New York and historical ties to South Africa.

👨‍👩‍👧‍👦 Personal Life and Family

• Born: Strive Masiyiwa was born on 29 January 1961 in Southern Rhodesia (now Zimbabwe).

• Wife: He is married to Tsitsi Masiyiwa, a co-founder of the family’s philanthropic efforts.

• Parents: His father was a miner who later became a businessman, and his mother was an entrepreneur with interests in retail, farming, and transportation.

• Children: Strive and Tsitsi have six children—Tanya Masiyiwa, Vimbai Masiyiwa, Sarah Masiyiwa, Joanna Masiyiwa, Esther Masiyiwa, and Moses Masiyiwa.

🎓 Education

• Early Years (1968): His parents fled political instability in Zimbabwe in 1968, moving to Kitwe, Zambia, where he attended primary school.

• Secondary School: He completed his secondary education at a private boarding school in Edinburgh, Scotland.

• University: He holds a Bachelor’s degree in Electrical Engineering from the University of Wales (now Cardiff University).

• Honorary Doctorate: In 2012, Masiyiwa was awarded an Honorary Doctorate from Morehouse College in recognition of his humanitarian work and philanthropy.

💼 Work and Business Life

Masiyiwa’s career began in 1984 after returning to a newly independent Zimbabwe.

• 1984-1989: Early Career: He briefly worked for the state-owned telecommunications company, PTC, before leaving to focus on his own venture.

• 1986: Retrofit Engineering: He set up his first business, Retrofit Engineering, an electrical contracting firm that grew rapidly. The company later received funding assistance from the International Finance Corporation (IFC).

• 1993-1998: The Legal Battle: Masiyiwa founded Econet Wireless in 1993 but was denied an operating license by the Zimbabwean government. He famously fought a landmark five-year legal battle that ended in 1998 with a constitutional court ruling in his favor, dismantling the state-owned monopoly.

• 1998: Econet Launched: Econet Wireless began operating in Zimbabwe and was listed on the Zimbabwe Stock Exchange in July. The same year, he established Mascom Botswana.

• 2000-2016: Global Expansion:

  • 2000: Strive Masiyiwa left Zimbabwe to live in South Africa.

  • 2001: Econet established the first GSM network in Nigeria (later acquired by MTN, then became Airtel Nigeria).

  • 2005: MTN acquired a 44% stake in Mascom.

  • 2006: Econet entered the New Zealand market in partnership with Huawei.

  • 2011: EcoCash Mobile Banking (now part of Cassava Technologies) was launched, revolutionizing financial inclusion.

  • 2012: Econet bought out Tawanda Nyambirai’s stake in TN Bank (now Steward Bank).

  • 2016: Econet Global acquired South African telecoms company Neotel for a reported R6 billion Rands.

• 2019: Econet Wireless entered negotiations to buy back the Mascom stake for an estimated $300 million.

📣 Controversies

Masiyiwa has traditionally maintained a low profile, but recent years have thrust him into public debates:

• 2018 Elections & Data Privacy: Prior to the 2018 elections, his company, Econet, faced accusations of leaking subscriber details, which were allegedly used by the ruling party ZANU-PF for targeted SMS campaigning.

• Sanctions Stance: He drew sharp criticism for publicly expressing support for the government of President E.D. Mnangagwa and for calling on the US Government to remove sanctions. Critics accused him of ignoring human rights violations while lobbying for sanctions relief.

• Legal Action Against Bloggers: Currently, Strive Masiyiwa is engaged in legal action against several Zimbabwean bloggers, alleging they are part of a broad smear campaign against him and his businesses.

💖 Philanthropic Work

Strive and his wife, Tsitsi, are devoted philanthropists, co-founding the Higherlife Foundation and Delta Philanthropies.

• They have supported the education of over 350,000 vulnerable and gifted children across Africa.

• They are signatories of the Giving Pledge, committing the majority of their wealth to philanthropy.

• Disaster Relief: The foundation has been a leading contributor to disaster relief efforts, including a substantial donation to the Cyclone Idai Relief efforts.

• Global Board Service: Masiyiwa sits on several influential global boards, including the Bill & Melinda Gates Foundation, Netflix Inc., and the National Geographic Society.

💡 Trivia

• His official Facebook page has a massive following of over 3.5 million people globally, which he uses to mentor the next generation of African entrepreneurs.