Home » Stake of billionaire Strive Masiyiwa in Econet Wireless Zimbabwe Limited worth $121.13 million

Stake of billionaire Strive Masiyiwa in Econet Wireless Zimbabwe Limited worth $121.13 million

by Omokolade Ajayi

The stake of Zimbabwean tech billionaire Strive Masiyiwa in Econet Wireless Zimbabwe Limited is currently worth ZWL43.84 billion ($121.13 million).

Masiyiwa owns a total 52.85-percent equity stake in the publicly-traded Econet Wireless Zimbabwe, which is part of Econet Group, a 22-year-old diversified telecom company with operations and investments in Africa, Europe, South America and East Asia.

Econet Wireless Zimbabwe is Zimbabwe’s largest telecom operator and one of the largest listed entities on the Zimbabwe Stock Exchange, with a market valuation of ZWL71.52 billion ($221.72 million).

As of October 2020, the company had total assets of ZWL15.67 billion ($43.29 million), 89 basis points lower than its total asset value of ZWL15.81 billion ($43.68 million) in 2019, while its total subscriber base was 13 million, up by 13 percent from its subscriber base of 11.5 million in 2019.

Masiyiwa’s stake in Econet Wireless Zimbabwe amounts to a total of 1,368,840,391 ordinary shares, making him the majority shareholder in the leading telecom operator.

As of press time, 12:00 PM (UTC), July 21, shares in the company were worth ZWL28.58 ($0.0886) per share, or 201-percent higher than its opening price of ₵1.50 ($0.251) per share for the year.

The market value of Strive Masiyiwa’s 52.85-percent equity stake in his company is currently valued at ZWL43.84 billion ($121.52 million).

Since the year started, the stake has accrued a total gain of ZWL39.13 billion ($81.15 million) for the Zimbabwean billionaire.

Masiyiwa, who derives the majority of his wealth from the diversified telecommunications company, Econet Group, is currently worth $1.6 billion, according to Forbes.

His net worth has increased by $100 million compared with its valuation of $1.5 billion dated June 4.

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