Strive Masiyiwa’s Billion Dollar Empire

Early Life and Foundation

Born on January 29, 1961, in Southern Rhodesia (now Zimbabwe), Masiyiwa’s life was shaped by displacement and determination from an early age. When he was just seven years old, his family left the country after Prime Minister Ian Smith’s government declared independence from the United Kingdom, settling in Kitwe, Zambia, where his father worked in copper mines.

The family’s entrepreneurial spirit emerged early—Masiyiwa’s mother became an entrepreneur, and by the time he was 12, his parents could afford to provide him with a coveted European education. He completed his secondary education in Scotland before earning a degree in electrical and electronic engineering from Cardiff University in Wales in 1984.

After graduation, Masiyiwa worked briefly in electronics in Cambridge before making a fateful decision that would change the trajectory of his life—and African telecommunications—forever. In 1984, he returned to newly independent Zimbabwe after a 17-year absence.

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The Birth of an Empire

Breaking Government Monopolies

Masiyiwa’s entrepreneurial journey began modestly. After working briefly as a telecoms engineer for Zimbabwe’s state-owned telephone company, he quit his job and, with just $75 saved from his salary, established Retrofit—an electrical contracting business that quickly flourished.

The emergence of mobile cellular telephony in the 1990s presented Masiyiwa with an opportunity that would define his legacy. However, his vision of democratizing telecommunications in Zimbabwe was met with fierce resistance from Robert Mugabe’s government, which refused to grant him a license to operate Econet Wireless.

What followed was a David-versus-Goliath legal battle that lasted five years and nearly bankrupted Masiyiwa. He appealed to Zimbabwe’s Constitutional Court, arguing that the government’s refusal violated his “freedom of expression.” The court eventually ruled in his favor, breaking the state monopoly in telecommunications—a landmark decision that opened Africa’s telecommunications sector to private capital.

This victory came at tremendous personal cost. Facing persecution from local authorities, Masiyiwa was forced to flee Zimbabwe in March 2000, never to return to his homeland. He first moved to South Africa, where he founded The Econet Wireless Group, before eventually settling in London, where he remains based today.

The Business Empire

Today, Masiyiwa’s business empire spans five continents and encompasses some of the most critical digital infrastructure in Africa. His wealth, is estimated at $1.3 billion by Forbes as of August 2025.

Core Telecommunications Holdings

Econet Global serves as the flagship of Masiyiwa’s empire, with operations and investments across Africa, Europe, Latin America, the Middle East, and the USA. The company has evolved far beyond its original telecommunications focus to become a comprehensive technology conglomerate.

Econet Wireless Zimbabwe Limited remains one of his most significant holdings, where Masiyiwa maintains a 52.85% stake in Zimbabwe’s premier telecommunications provider, serving over 16 million customers. Listed on the Zimbabwe Stock Exchange in 1998 as a gesture of gratitude to supporters during his legal battles, the company has grown to become Zimbabwe’s second-largest company by market capitalization.

Cassava Technologies represents Masiyiwa’s vision for Africa’s digital transformation. This tech behemoth, which he founded and chairs, is integral to Africa’s digital landscape and includes cutting-edge developments in artificial intelligence through Cassava AI.

Infrastructure and Connectivity

Liquid Intelligent Technologies (formerly Liquid Telecom Group) stands as perhaps Masiyiwa’s most ambitious venture—Africa’s largest satellite and fiber optic business spanning more than 110,000 kilometers of cable from Cape Town to Cairo. This privately held company, in which Masiyiwa holds a controlling stake, provides the backbone for digital connectivity across the continent.

Africa Data Centers operates the continent’s largest network of carrier- and cloud-neutral data center facilities, positioning Masiyiwa at the forefront of Africa’s data revolution.

Financial Technology and Digital Platforms

EcoCash Holdings (formerly Cassava Smartech) focuses on digital and financial technologies, with Masiyiwa owning 30.26% through Econet Global Limited. The platform has become central to financial inclusion efforts across Africa.

Sasai Fintech represents Masiyiwa’s push into the rapidly growing African fintech space, providing digital financial services to underserved populations.

International Ventures

Masiyiwa’s global reach extends through strategic partnerships and investments:

• 2degrees Mobile (formerly Econet Wireless New Zealand): New Zealand’s third mobile network operator
• Trilogy International Partners: A partnership with American telecom entrepreneur John Stanton
• Telrad Group Israel: An Israeli technology company
• Mascom Wireless Botswana: A major telecommunications provider in Botswana

Other Strategic Holdings

The empire also encompasses:

• Econet Energy: Focused on renewable energy solutions
• Vaya Technologies Africa: An African technology subsidiary
• Historical stakes in companies now known as Airtel Nigeria (formerly Econet Wireless Nigeria)

Corporate Leadership and Global Influence

Beyond building businesses, Masiyiwa has established himself as a significant voice in global affairs. He currently serves on the boards of major international corporations including Netflix Inc., where he has been a director since 2020, and formerly served on the board of Unilever PLC.

His influence extends to major philanthropic and policy organizations. He serves as a trustee of the Bill & Melinda Gates Foundation and National Geographic Society, and sits on global advisory boards including Bank of America, the Bloomberg New Economy Forum, and Stanford University. He previously served for 15 years on the board of the Rockefeller Foundation and is Chairman Emeritus of the Alliance for a Green Revolution in Africa.

During the COVID-19 pandemic, Masiyiwa was appointed as an African Union Special Envoy, leading continental efforts to procure medical supplies and coordinate vaccine acquisition—a role that demonstrated his capacity to mobilize resources for continental challenges.

The Philanthropic Empire

Parallel to his business success, Masiyiwa has built one of Africa’s most significant philanthropic operations. In 1996, he and his wife Tsitsi co-founded what is now known as the Higherlife Foundation, which has grown into a comprehensive social impact organization.

Educational Impact

The foundation’s educational programs have been transformative in scale and scope:

• Over 350,000 scholarships provided to African youth since inception
• The Capernaum Scholarship: Supporting orphaned and vulnerable children from primary through tertiary education
• The Joshua Nkomo Scholarship: Merit-based awards for academically gifted students
• Partnership with Yale University: Through the Yale Young African Scholars Programme
• Andrew Young Scholarship: Collaboration with Morehouse College and Spelman College

The foundation operates across multiple African countries including Zimbabwe, Lesotho, Burundi, Rwanda, Kenya, and South Africa, with offices in all ten provinces of Zimbabwe alone.

Healthcare and Crisis Response

Masiyiwa’s philanthropic efforts extend far beyond education:

• $100 million medical fellowship program launched in 2019 for junior and senior doctors in Zimbabwe
• $60 million invested in healthcare and crisis responses
• Leadership in health campaigns against HIV/AIDS, cervical cancer, malnutrition, Ebola, and COVID-19
• $10 million donation to fight cholera outbreak in Zimbabwe in 2019

Rural Development and Economic Empowerment

The foundation has committed over $100 million toward rural development initiatives focused on creating jobs and sustainable livelihoods, reaching over 68,000 young people annually through mentorship programs.

The Giving Pledge

Masiyiwa and his wife are signatories to the Giving Pledge, the initiative launched by Bill Gates and Warren Buffett encouraging billionaires to commit the majority of their wealth to philanthropy.

Awards and Recognition

Masiyiwa’s contributions to business and society have earned him numerous international accolades:

• Norman E. Borlaug World Food Prize Medallion (2019) for his role as Chair of the Alliance for a Green Revolution in Africa
• International Honorary Member of the American Academy of Arts and Sciences (2023)
• W.E.B. Du Bois Medal from Harvard University’s Hutchins Center for African & African American Research (2024)
• David Rockefeller Bridging Leadership Award (2025, with his wife Tsitsi)
• Time100 Philanthropy honorees (2025)
• Points of Light Award from the UK Prime Minister for philanthropy (2018)
• Multiple recognitions by Fortune Magazine as one of the “World’s 50 Greatest Leaders” (2017, 2021)

In October 2024, he made history by becoming the first black billionaire to enter the Sunday Times Rich List with a net worth of $3.1 billion.

Leadership Philosophy and Digital Mentorship

Beyond formal philanthropy, Masiyiwa has pioneered digital mentorship on an unprecedented scale. His Facebook page, with over 5.2 million followers, has been identified by Facebook as having the most engaged following of any business leader in the world for three consecutive years. Through this platform and in-person youth entrepreneurship town halls across Africa and globally, he mentors the next generation of African entrepreneurs.

His leadership philosophy centers on the belief that “if we tackle corruption, no child would sleep hungry, there would be no injustice, every child would be in school. The most powerful force against corruption is one person saying ‘no.'”

Environmental and Social Impact

Masiyiwa has positioned himself as a significant voice in environmental conservation. He co-founded the Carbon War Room with Sir Richard Branson and others, and has integrated renewable energy solutions throughout his business portfolio through Econet Energy.

His commitment to gender equality is reflected in the Higherlife Foundation’s goal of achieving 50% gender parity across all initiatives, addressing the reality that over 49 million girls in Sub-Saharan Africa are not in primary or secondary school.

The Future Vision

As Masiyiwa approaches his mid-60s, his empire continues to evolve and expand. The integration of artificial intelligence through Cassava AI, the expansion of data center capabilities across Africa, and the continued growth of financial technology platforms position his companies at the forefront of Africa’s digital transformation.

His vision extends beyond mere business success to fundamental transformation of African economies and societies. Through both his commercial enterprises and philanthropic initiatives, he embodies the possibility of African-led solutions to continental challenges.

Legacy and Impact

Strive Masiyiwa’s billion-dollar empire represents more than personal wealth accumulation—it embodies the transformation of Africa’s place in the global economy. From breaking telecommunications monopolies to building continental infrastructure, from educating hundreds of thousands of young Africans to mentoring millions more through digital platforms, his impact extends far beyond financial metrics.

His journey from a young Zimbabwean exile to a global technology leader and philanthropist illustrates both the potential of African entrepreneurship and the power of persistent vision in the face of seemingly insurmountable obstacles. As he continues to invest in Africa’s digital future while empowering its human capital, Masiyiwa’s empire stands as a testament to what’s possible when business success is combined with social purpose.

In an era where technology increasingly defines economic and social progress, Strive Masiyiwa has positioned himself not just as a beneficiary of this transformation, but as one of its primary architects across the African continent. His billion-dollar empire is, ultimately, a platform for continental transformation—a legacy that extends far beyond wealth to encompass hope, opportunity, and the unlimited potential of African innovation.