Business

Strive Masiyiwa surpasses Patrice Motsepe to become Southern Africa’s richest black man

Strive Masiyiwa is now the richest black man in Southern Africa, with a net worth surpassing $4.4 billion – dethroning Patrice Motsepe from the position, according to media reports.

Masiyiwa’s new title is thanks to the year-to-date price increase in the shares of his telecom company, Econet Wireless Zimbabwe, and his smart-tech company, Cassava Smartech. As of Wednesday, Masyiwa’s net worth had increased from $2.7 billion to $4.4 billion, Billionaires.Africa reported.

Forbes, who have another list, still has Masiyiwa behind Motsepe, but both men have seen their wealth rocket since the start of the year, with Motsepe having topped the list since 2008.

Masiyiwa, 61, recently announced his retirement as chairman and director of Econet Wireless Zimbabwe Limited and still retains his more than 50% stake in the company he listed on the Zimbabwe Stock Exchange in 1998.

In response to his announcement, Econet Wireless’ board of directors announced the appointment of Elizabeth Tanya Masiyiwa, one of Masiyiwa’s six children, to the board of the telecom company to propel the firm’s growth forward as a going concern.

According to the board of directors, Elizabeth’s appointment will bring a wealth of experience, as she has worked in various organisations, spearheading investment and funding programs and human capital development.

In Other News – List of Obert Karombe’s side chicks

Over the weekend, one of Zimbabwean’s young millionaires, Obert Karombe sadly passed away in a fatal car accident. The Mutare-based businessman was friends with Prophet Passion Java and used to lend him his cars whenever he was in SA.

News making the around on social media is that Obert had many girlfriends despite being married. This claim is hard not to believe as even when ...learn more

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