Econet Wireless Zimbabwe Ltd, the telecommunications group controlled by Zimbabwean entrepreneur Strive Masiyiwa, has announced plans to delist from the Zimbabwe Stock Exchange following what it described as persistent undervaluation compared to regional peers. The move forms part of a broader corporate restructuring aimed at realigning the group’s assets and unlocking greater shareholder value within Africa’s rapidly evolving digital infrastructure landscape.
In a statement to shareholders, Econet noted that it has traded at a significant discount relative to comparable African operators that typically command enterprise value to earnings ratios of six to eight times. According to the company, this valuation disparity has persisted even as regional and international counterparts have realised enhanced returns through the separation of their infrastructure portfolios.
As part of the proposed restructuring, Econet plans to establish a new entity, Econet Infrastructure Company Limited (Econet InfraCo), which will hold the group’s tower, real estate and power assets. Econet InfraCo is expected to list on the Victoria Falls Stock Exchange, an increasingly preferred platform for firms seeking exposure to foreign currency investors and regional markets. Econet will retain a 70 percent equity stake in the infrastructure company, while up to 30 percent will be allocated towards settling the exit offer for shareholders choosing not to continue following the delisting.
The decision aligns Econet with a growing number of African telecommunications operators, including MTN Group, Vodacom, Airtel Africa and Orange, that have pursued infrastructure separations as part of strategies to enhance capital efficiency, reduce operational costs and unlock shareholder value. This trend reflects a broader shift across the continent where telecommunications firms are refocusing on service provision and digital innovation while establishing specialised infrastructure vehicles to manage passive assets such as towers and energy systems.
The delisting proposal comes after years of economic headwinds in Zimbabwe, including inflationary pressures and liquidity constraints, which have weighed on market valuations. The move to the Victoria Falls Stock Exchange may offer a more stable and transparent investment environment denominated in foreign currency, providing greater appeal to international investors while retaining local ownership.
A shareholder meeting is scheduled for January 2026 to consider the proposal. Before the delisting takes effect, Econet intends to offer investors a voluntary exit mechanism, enabling them either to cash out or to receive a combination of cash and shares in the new infrastructure entity.
Analysts note that the restructuring underscores a growing recognition among African corporates of the need to pursue innovative financial and operational models that respond to local realities while maintaining competitiveness on a global scale. Econet’s move can be read within a wider narrative of African enterprises redefining capital markets participation through reforms that both acknowledge domestic constraints and engage with continental ambitions for economic integration and infrastructure development.
Strive Masiyiwa, who founded Econet in the 1990s, has long advocated for African-led solutions to structural market challenges and has been instrumental in shaping the continent’s telecommunications sector. This latest development represents a continuation of that approach, where corporate agility and structural reform are positioned as tools to navigate complex economic ecosystems and reinforce investor confidence in African-led enterprises.
As Africa’s telecommunications infrastructure increasingly forms the backbone of its digital transformation, initiatives such as Econet’s infrastructure spin-off demonstrate both strategic foresight and a nuanced understanding of value creation in emerging markets. The outcome of the forthcoming shareholder meeting will likely serve as a bellwether for similar corporate restructurings across the region as firms seek to align valuation, liquidity and ownership in more inclusive and transparent ways.
