The owner of Kwese TV is now Zimbabwe's first billionaire

david nganga

January 11, 2018 4:57 PM

Masiyiwa is ranked by Forbes as the 14th richest person in Africa

Telecom magnate Strive Masiyiwa is Zimbabwes first billionaire, according to Forbes magazine.

In the just-released African Billionaires List 2018, Masiyiwa is now valued at a net worth of $1.7 billion which saw him make a debut in the ranking that pits the continent's wealthiest individuals.

Masiyiwa controls Econet Group, a Zimbabwe-listed mobile phone company that has investments in financial services, insurance, e-commerce, renewable energy, Coca-Cola bottling, hospitality and payment gateway solutions.

Econet also has a Pay television outfit, Kwesé TV, which focuses on sports and entertainment programming to African markets.

Additionally, the 57 year old 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.

Alhaji Aliko Dangote from Nigeria still retains the title for Africa's richest man for the seventh straight year with a net worth that Forbes pegs at $12.2 billion.

david nganga