Zimbabwean billionaire Strive Masiyiwa’s Econet to pay $18.9 million to investors

Key Points

• Econet Wireless Zimbabwe will distribute an $18.91 million interim dividend, a 32.73% increase, amid strong financial results and rising cash flow.
• A 56% surge in data usage now contributes 47% of total revenue, while voice revenue declines, reflecting shifting consumer preferences.
• Strive Masiyiwa’s 52.85% stake in Econet reinforces his industry dominance, with the company valued at $396 million as of March 5, 2025.

Econet Wireless Zimbabwe Limited (Econet), the telecom giant owned by Zimbabwe’s richest man, Strive Masiyiwa, plans to pay an interim dividend of $18.91 million to its shareholders. The payout underscores the company’s dedication to rewarding investors.

Econet boosts dividend as data demand grows

Econet’s strong financial results and higher cash flow from operations have paved the way for a bigger payout to shareholders. The company will distribute an interim dividend of $0.0073 per share—an increase of 32.73 percent from last year’s $0.0055—amounting to $18.91 million. The payout is set for Mar. 26, 2025.

The telecom giant reported a 56 percent surge in data usage and a 36 percent increase in voice traffic, driven by ongoing network upgrades. Data services now account for 47 percent of total revenue, up from 38 percent, while voice revenue has dropped from 49 percent to 41 percent, highlighting a clear shift in consumer demand toward data-driven services.

To keep up with this shift, Econet has ramped up its investments in infrastructure. The company allocated 26 percent of its revenue to capital expenditure—more than double the 10 percent recorded in the previous period—focusing on network modernization and expanding its 5G coverage.

Econet Zimbabwe: A telecom powerhouse

Econet Wireless Zimbabwe, a key subsidiary of the Econet Group, has built a strong presence in the telecommunications industry, serving more than 14 million subscribers over two decades. Its operations span Africa, Europe, South America, and East Asia, reflecting its international reach.

Billionaire Strive Masiyiwa, Zimbabwe’s richest businessman, owns a 52.85 percent stake in the company, reinforcing his influence in the sector. With an estimated net worth of $1.9 billion, Masiyiwa is also one of the world’s wealthiest Black billionaires. As of March 5, 2025, Econet Zimbabwe’s market capitalization stands at ZWG10.7 billion ($396 million), reflecting its strength in the region’s digital transformation.