Strive Masiyiwa: Difference between revisions
m correct spelling, using AWB |
|||
| Line 15: | Line 15: | ||
The Econet Group is also exploring several opportunities in targeted African other international emerging markets. |
The Econet Group is also exploring several opportunities in targeted African other international emerging markets. |
||
==Other activities== |
==Other activities== |
||
Revision as of 10:29, 19 September 2010
Strive Masiyiwa (born 1961) is a Zimbabwean businessman and cellphone pioneer, founding Econet Wireless.
Econet Wireless
Econet began its operations as a cell phone operator in 1998 in Zimbabwe, where the company is the largest telecommunications company and one of the only two listed telecoms companies. Soon after obtaining a license in Zimbabwe, Econet decided to expand its operations in Africa and in 1998 Mascom Wireless was established in Botswana. Mascom has since grown to become one of the most spectacular success stories of the African telecoms sector, and currently enjoys a market share of over 70 percent.
In 2000, Econet, now based in South Africa, launched its most ambitious project ever when it put together a bidding consortium for a license in Nigeria. The consortium, operating under the name Econet Wireless Nigeria, was licensed at a cost of $285 million. The other company was MTN South Africa. During the first year of operation, Econet dominated MTN in Nigeria, establishing a market share of 57%. The success of Econet attracted the attention of international investors who considered Econet a takeover target, attempts which Econet fiercely resisted, in turn creating acrimony with the local shareholders. This in turn resulted in a shareholder dispute which is currently before Nigerian courts.
In 2001, Econet created a consortium with South Africa’s power utility, Eskom, to bid for various telecoms privatizations in Africa. The joint venture company, MKC, bid successfully in two countries. The first country was Lesotho, where MKC took over the state owned fixed network and also built a second mobile network, which is run by Econet.
Econet also set up a company in the UK called Econet Satellite Services, the only African telecoms company to be given a full telecoms license by the British government. The company owns a satellite network system which links more than 50 African networks to the global telecoms networks, and has firmly established the Econet brand in the highly competitive UK telecoms carrier market.
With its growing international reputation, Econet began to seek opportunities further afield beyond Africa, and in 2001 the company successfully bid against international operators in New Zealand and acquired one of the new generation licenses called “3G”. Econet is preparing to build a network in New Zealand once the government has completed the liberalization of the telecoms market.
Econet also formed a consortium with Kenyan partners and set up a company called Econet Wireless Kenya which successfully bid for a third GSM license and is preparing to build its network. In 2005, Econet also successfully acquired a mobile operation in Burundi which is being re-branded Econet Wireless Burundi.
The Econet Group is also exploring several opportunities in targeted African other international emerging markets.
Other activities
Amongst his other business leadership achievements Strive was a member of the coordinating committee which set up the Social Dimensions Fund (SDF), an initiative to alleviate the impact of poverty arising during the implementation of economic reforms in Zimbabwe. He was also a founding member of the African Latin American Institute at Punta Del Este in Uruguay in 1994. The institute promotes cultural, educational and business linkages between Southern Africa and the Mercusior region of Latin America.
Strive has served on numerous boards and trusts both in Zimbabwe and internationally. In 1995 Strive was appointed by American President Bill Clinton to a Board Member of the Southern African Enterprise Development Fund (SAEDF) which is chaired by Ambassador Andrew Young. He is currently also a member of Thebe Investment Corporation of South Africa, an empowerment company that was set up by the Mbabatho Trust of the ANC.
Aside from Econet, Strive is a trustee of the Rockefeller Foundation and a board member of the Alliance for a Green Revolution in Africa which is funded by both the Rockefeller Foundation and the Bill & Melinda Gates Foundation and chaired by Kofi Annan. Also, through Econet’s subsidiaries the Group funds one of the largest orphan care programs in Africa, run by Capernaum Trust. Established in 1999, initially as the social investment arm of Econet Wireless Zimbabwe, the Trust is currently responsible for over 26,000 orphans.
Strive has won numerous business awards and recognitions. Notable of these are the following: in 1990 he was the youngest ever recipient of Zimbabwe's coveted Businessman of the Year Award; in 1998 he was named his countries Manager of the Year as well as Entrepreneur of the Year. He was recently named by Junior Chamber International (JCI) as one of the "Ten Most Outstanding Young Persons of the World" for 1999. In 2002 he was named to Time Magazine's Global Business Influentials List.
He was also the publisher of the Daily News, Zimbabwe's only independent daily newspaper, shut down by the government in late 2003 after its management refused to comply with new media regulations which required that media organisations be registered with a government commission.
Personal life
Strive Masiyiwa was born in what was Southern Rhodesia in 1961. He went to High school in Scotland; he gained a degree in Electrical and Electronic Engineering (Cum Laude) at the University of Wales, returning to newly independent Zimbabwe in 1984, where he took a job with the state-owned telephone company. Strive is a committed Christian. He lives in Johannesburg, South Africa, with his wife, Tsitsi, and six children.