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Attempt Masiyiwa at a convention in 2016. (Picture by Frank Augstein – WPA Pool/Getty Photographs)
Zimbabwean telecommunications billionaire and founding father of Econet Wi-fi Zimbabwe, Attempt Masiyiwa has retired from the corporate he began nearly three a long time in the past to pursue new alternatives.
The “imaginative and prescient caster” has moved on, Douglas Mboweni, chief government officer at Econet informed reporters within the capital, Harare Friday. “He has stepped up and there are extra portfolios he has to attend.”
Masiyiwa, 61, who has been on Econet’s board since establishing the corporate in 1993 will retain his greater than 50% stake within the firm that he listed on the Zimbabwe Inventory Change in 1998.
Since itemizing, Econet’s subscribers have risen to 13.2 million from 32 000 and the corporate is valued at $1.1 billion (R16.7 billion).
“It’s via his management, dedication and perseverance that the corporate has grown to develop into considered one of Zimbabwe’s largest and most profitable companies,” the corporate mentioned in an emailed assertion.
Masiyiwa, whose telecommunications firm operates in Africa and Europe, has had his run-ins with Zimbabwe’s authorities, which he has seen as pursuing insurance policies detrimental to his wi-fi enterprise.
In 2020, authorities accused Econet, which dominates the mobile-money transactions business, of fueling black-market forex buying and selling and cash laundering, accusations the corporate denies. Previous to that the corporate was in a four-year lengthy authorized battle with the federal government earlier than acquiring an working license in 1997.
Masiyiwa at present sits on Netflix and the Invoice and Melinda Gates Basis’s boards. He’s additionally the African Union’s particular envoy on Covid-19 and oversees the AU’s Covid Job Drive that secures coronavirus vaccines for the continent.
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