By Victor Oluwole | Business Insider Africa |
Zimbabwe’s richest man and Executive Chairman of Econet, Strive Masiyiwa, has already made $10.3 million this year following a surge in the market value of his stake in the Zimbabwe-based smart tech group, Cassava Smartech.
The shares in Cassava Smartech since the beginning of the year have increased from a price of ZWL40.65 ($$0.1263) on Dec. 31, 2021, to ZWL44.9 ($0.1263) on Jan 5, Billionaires Africa reported.
According to analysts’ projections, the surge in the market value of Masiyiwa’s stake since the year began can be linked to recent buying interest in the company’s share in the new year.
Masiyiwa, who holds a beneficial 30.26-per cent stake in the company through Econet Global Limited, has Cassava Smartech’s soaring share price to thank as his stake in the company rose from ZWL31.87 billion ($98.97 million) at the beginning of the year to ZWL35.2 billion ($109.31 million) on January 5.
This led to gains of 10.45-percent for shareholders as Masiyiwa’s total gains of ZWL3.33 billion saw his net worth rise by ($10.34 million) in the first five days of the new year.
Cassava Smartech is a diversified smart tech group that leverages digital and financial technologies to build shared economies, drive financial inclusion and promote economic empowerment.
The company has evolved from a Fintech operation (primarily Mobile Money) to a full-fledged smartech business, constantly tapping into new opportunities to address everyday challenges through innovative and inclusive digital solutions.
Another big gainer this week is Nigerian billionaire industrialist Abdul Samad Rabiu, who is now the 2nd richest person in the country, according to Billionaires Africa.
He chairs BUA Foods Plc, an operating unit of manufacturing conglomerate BUA Group, both of which have completed the listing of its shares on the Nigerian Exchange.
Shares of BUA Foods rose nearly 10% from N40 ($0.0968) to N44 ($0.1065) this week, boosting Rabiu’s net worth by $1.2 billion. His fortune has risen to $7.2 billion, skyrocketing from $5.3 billion last year.
we ve to vote him for president
Dicey Tinotenda Mcloony team reZanu iri just to protect madhiri ake
If you go against Zanu ask Mawere Mutumwa
Dicey Tinotenda Mcloony Why?
but guys we seriously need change in our country look Zambia today
Dicey Tinotenda Mcloony why
Dicey Tinotenda Mcloony why do you have to force him into politics when he is obviously not interested?
Dicey Tinotenda Mcloony haana zvaanoita, uyo atori worse
Dicey Tinotenda Mcloony maybe zanu pf must start by appointing him zanu president coz he is a zanu
Dicey Tinotenda Mcloony iye achidhura ne Econet yake kudaro
Dicey Tinotenda Mcloony he is a British citizen now
The guy is rich already haazobe zvakanyanya. Strive is not Zanu by the way
Dicey Tinotenda Mcloony u know us zimbos next year we are running to zambia kkkk
Enia Murunguzvuzvu kkkk but todawo kugara munyika medu
Does this end poverty ??? you are too snobbish… Journalism of these days heeey
Patrick Makoni The same article can be in any newspaper. You aren’t being forced to read buddy
Econet yakadhakwa kuomera kudaro zvekutadzawo Ku sponsor woo sport zvayo Inga SA kune Telkom , MTN 8 , vanhu warii kukuitisai Mari wani
Kudzie Makarutse Makoni haha…kuSponsor maAdmin mbavha dzoga
Kudzie Makarutse Makoni ma charity aano supporter mashoma?
Kudzie Makarutse Makoni why dont appreciate more than 250 000 students that he had send to school. Zvimwe zvinota mweya wekutenda.
Kudzie Makarutse Makoni Econet withdraws PSL sponsorship
By The Independent- May 28, 2004
Enock Muchinjo
TELECOMS giant Econet Wireless has terminated its five-year sponsorship of football in Zimbabwe through the Premier Soccer League (PSL) with effect from the end of the current
season, it was announced yesterday.
In a statement, the company said the decision to terminate the largest ever football sponsorship deal in the country’s history was taken in response to a row between the Zimbabwe Football Association (Zifa) and the PSL in which Zifa banned the PSL management committee after the league refused to release the contract it entered with Econet to the national association.
“The action by (Zifa) and the subsequent media reports on the issue have brought the name of Econet into disrepute, and we do not want to be involved,” said Econet spokesman Sure Kamhunga.
Econet will however stand by its obligations until the end of the current season.
Kamhunga said Econet directors had reviewed the saga between PSL and Caps United over rival Net*One sponsorship, as well as the latest developments between Zifa and the top-flight league and concluded the Econet name was being dragged into disrepute.
“All we as Econet wanted to do was to help develop football in Zimbabwe in the same way our sister companies are doing in other African countries like Nigeria. It has become clear to us that there are powerful forces in Zimbabwe who do not want us to be involved in soccer sponsorship, and we have therefore decided, sadly, to withdraw completely,” he said.
In order to avoid unnecessary disruptions, Econet has given PSL notice up to December to find new sponsors “acceptable to the relevant authorities”. Sources say government was not happy with Econet’s sponsorship of the top-flight league.
Econet owner Strive Masiyiwa is accused of bankrolling the opposition.
However, Kamhunga said Econet had been working well with the PSL and the clubs.
“This is very sad because we had just got to the stage with PSL where they had sorted out their administration, and we were now ready to pump in money which would reach all the clubs. We hope that another sponsor will work with PSL and finish the work we had started,” he said.
The decision to sever ties with the PSL was made after a marathon meeting yesterday where the Econet management team tried in vain to persuade their board to stay on, arguing that with Econet’s support, Zimbabwe would become a stronger football nation.
Meanwhile, Econet Wireless Zimbabwe chief executive officer Doug Mboweni expressed appreciation for the professional approach of the PSL management committee towards football administration.
Mboweni said Econet had been impressed with the common sense of purpose demonstrated by the PSL leadership. “If this is maintained, it will enable them to successfully identify more sponsors for the football league.
We wish them well in the future,” he said.
Kudzie Makarutse Makoni zifa ndeye kumama iyo wangu matuzvi ayoo.
Phillip Mugayi kkkkkkkkk taura hako
Imagine from zero to billionaire. Only borrowing & not manufacturing anything.
Or to give some free promotion like Facebook lite or you tube not everything u must pay for it
Haumbominzwa achiti ndine mari ?
Is it true gyz…..💥
Copy and paste please
Ko passion java hw much he got……
Misheck Nakirwai Chiware parikutaurwa zvaStrive Masiiwa,kwete Java,vamwe vanhu muri madofo sure eish
Peter Gondwe mai vako vakazvara iwe na java wako ndivo dofo
Misheck Nakirwai Chiware kkkkkk
Ndezvake ikoko
Imbinga yekumaraini kwavo not tese mazimbo hazvina zvazvinotipa🙄🙄
To imagine this man was once shunned by the Robert Mugabe headed government era but look where destiny took him to. Let your destiny be not defined by human beings but by God Himself.
Kuda Tagwirei is the richest man in Zim…
Vinnie Kandambi really
Vinnie Kandambi ko mu world richest haazikanwe
Misheck Nakirwai Chiware zvinovigwa bcz of nzira yazvinouya nazvo
Anozikwana
Elon Musk
Ko hangaangopa family yega yega 1 million nhamo ipere muzim achibatsirana naJava
Ko Chiyangwa naFrank Buyangwa vari nechapapi panyaya dzehufumi?
This man has stollen a lot from unsuspecting Zimbabwean citizens and somehow he manages to get away with it.
Mkore Kore
Hw much did he steal from the Zimbabweans.
Mkore Kore Dont be too. Jealous
Ngoni Mapomba No stealing clean hustling my guy
Tinashe Kelvin Shonga all business pple vanoba nekutsika vamwe kusimukira kubirana chete hapana Mari iri clean
Ngoni Mapomba tell me what happened to Ecosure,Ecofarmer, Kwese tv and not forgetting the biggest money heist in the history of Zimbabwe and Rhodesia combined ECOCASH 😂 work up my people work up
Every poor man thinks every rich man is a conman
Tinashe Kelvin Shonga how is it clean money when we all know no one was paid back the moneys of his failed programs that a lot of people had contributed their hard earned money to him
Mkore Kore
Kkkkkk what’s wrong with eco-cash?
This guy nehungwaru hwake make a plan for zimbabwe
Data rake rinodhura get away
Jue Rozay Its business my man
Saka mati toita sei
Joseph Matanda Saungweme Joseph pakaipa wena I love this man is great man in Bussines
Imbavha iyi sim card rake rakange rakaenzana neprice yemombe , sim card radarika price yehand set
Shepherd Mhondiwa Thats taive takasara wangu
Tinashe Kelvin ShongaTinashe Kelvin Shonga hakusi kusara kutora advantage chete. Zvakaitwa nana Ed nema money changer avo vachitora forex pablack market
Shepherd Mhondiwa ko re netone raiita marii that time
Tinashe Kelvin Shonga takaisa Kumari mazuva ano it is 350us to 400us wangu saka pama line 100 imarii
Shepherd Mhondiwa even net one that ranga risingawanike buddie ndoraiwanika even raiduraharo hapana kuba apa wangu
What is the use of that money in bank,while 1/3 of his fellow zimbos are starving in deep poverty?
Nagazak Try its the duty of gvt to save its people
Misheck Nakirwai Chiware him is part of it,feel as a human being
Nagazak Try Aaaaaaa you want him to save that one third on what grounds
Nagazak Try -Precisely
Nagazak Try hi. Kindly do your research well. He has an organization called Higherlife Foundation that has sent hundreds of thousands to school, assisted in times of disaster, is striving to fight poverty through use of the Reimagine Rural fund, has pfumvudza projects that are ongoing. Human capital development is also his thrust. This is a skeleton that I have given you. More research would assist you understand better.
Kuita Mari haisi Mhosva sha shanda yako uite zvaunoda
why can’t he help with that a little kubatsirawo nyika yeZimbabwe kuti isimukire… Selfish
Saka wanga wati todii nazvo
l am a econet shareholder dont have any respect for this dude. tsotsi iri l am sure every econet shareholder can relate
Samson Chifamba -All business is built on a pyramid-structure-basis……rest of u at the bottom sweat yo arsenal fo yhe man at the top. That’s just how the system works, no morality-issues involved…that is why it’s called capital-ism-scism.
Shlomoh Guwazah its legalized crime sir. Shares keep getting diluted yet he opens other businesses. He’s not as good as they say rather a conman in suits
Samson Chifamba is Econet the only company you can invest your shares in. Because from what you are saying it seems you are not benefiting from your shares and it could be wiser to buy shares somewhere else and leave Econet. Don’t you think?
Desire Kateyera l know wat you mean sir but here was talking about this tsotsi dude. I have not benefited you correct. Rather had my shares diluted over yrs. Investing somewhere else l can but that won’t give me my econet shares back or get paid dividends that were due.
https://www.google.com/amp/s/www.forbes.com/sites/mfonobongnsehe/2019/07/06/billionaire-strive-masiyiwa-puts-pay-tv-company-under-administration-over-130-million-debt/amp/
the dude is struggling to pay 20million debt for yrs now yet hes called a billionaire