HARARE – Strive Masiyiwa has stepped down from the board of Econet Wireless Zimbabwe, the telecommunications company he founded three decades ago.
Masiyiwa, 61, ceased to be a board member with effect from February 1, the company said in a statement released Thursday.
Describing the billionaire tycoon as a “vision caster”, Econet CEO Douglas Mboweni said Masiyiwa has “more portfolios he has to attend to.”
“It is through his leadership, dedication and perseverance that the company has grown to become one of Zimbabwe’s largest and most successful businesses,” the company said.
Masiyiwa will retain his more than 50 percent stake in the company that he listed on the Zimbabwe Stock Exchange in 1998, five years after it began trading.
Econet boasts of a subscriber base of 13.2 million and is reportedly valued at US$1.1 billion.
Masiyiwa sits on the boards of Netflix and the Bill and Melinda Gates Foundation. He is also the African Union’s special envoy on Covid-19 and oversees the AU’s Covid-19 task force that secures coronavirus vaccines for the continent.