Zimbabwean billionaire Strive Masiyiwa to pocket $7.4 million in Econet interim dividends

Strive Masiyiwa, the richest man in Zimbabwe, is set to receive an interim dividend of $7.4 million from his holdings in Econet Wireless Zimbabwe Limited (Econet), solidifying his position as one of Africa's top dividend earners in the telecom industry.

Econet said it would give its shareholders $15.54 million in interim dividends at the end of the second quarter of its fiscal year 2025. The move shows that the business is trying to keep making money while still investing in growth.

Econet's dividend growth benefits Masiyiwa

The dividend, which is scheduled to be paid on September 24 and is set at $0.006 per share, represents a 46.34 percent increase over the same period last year. It also comes at a time when Econet is intensifying its focus on digital services, leveraging its network, financial platforms, and artificial intelligence to strengthen customer engagement and improve operational efficiency.

Masiyiwa, who holds 47.5 percent of Econet—more than 1.2 billion shares—will receive his share from the group’s second-quarter retained earnings. The board approved the distribution under Econet’s dividend policy, which aims to deliver consistent cash returns to investors.

At its 27th annual general meeting on Aug. 28, 2025, Econet shareholders also approved a share buyback program, allowing the board to repurchase up to 10 percent of issued shares at a price not exceeding 5 percent above the five-day weighted average.

Econet profit jumps on 5G rollout

Econet’s solid results this year have shaped its recent decisions. In mid-August, the company posted a 23 percent rise in revenue to $823 million, while profit jumped more than threefold to $86.08 million.

Econet kept expanding its digital reach, adding 77 new 4G and 60 new 5G sites, in addition to making money. Its insurance and payment businesses also grew quickly. The company spent 50% more on capital improvements, bringing the total to $131 million. This money went toward network upgrades and new AI-powered services.

Econet grows across continents

Strive Masiyiwa has been a key player in Africa's telecom industry since he started Econet in 1998. Econet has solidified its dominance with a 72.85 percent share of the mobile market and an 80.89 percent share of the data market.

He still owns 47.5 percent of Econet Wireless Zimbabwe, the group's flagship unit with over 14 million subscribers, through Econet Global. Econet has grown into one of Africa's largest telecom companies over the course of more than 20 years. It now operates in more than 20 countries in Africa, Europe, South America, and East Asia.