Masiyiwa pumps in $100 million into Econet after rights issue is undersubscribed


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Econet chief executive, Douglas Mboweni said the company was on track to raise the full $130 million.

“We will release the full details probably next week, but we are on course to pay off all our foreign loans in April,” said Mboweni.

“We have not defaulted on our loans, and our shareholders have now ensured that we will not default in future.”

Masiyiwa left Zimbabwe in 2000, two years after Econet was awarded an operating licence following a protracted legal battle with the government. He has never been back since.

Moving first to South Africa and later the United Kingdom, he has lived in London for the last 10 years and has business interest throughout the world.

Econet Wireless Zimbabwe shareholders as at November 30, 2016.

(119 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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