The rise of Strive Masiyiwa (Zimbabwe billionaire)

Early Life and Education

• 🌍 Strive Masiyiwa was born in 1961 in Rhodesia (now Zimbabwe) and his family fled to Zambia when he was seven years old.
• 📚 His parents provided him with a European education in Edinburgh, Scotland, where he graduated in 1978.
• 💡 After initially intending to join anti-government guerrilla forces, he was advised to help rebuild the country and pursued an electrical engineering degree in Britain.

Entrepreneurial Vision

• ⚙️ Masiyiwa returned to Zimbabwe in 1984, working as a senior engineer at the state-owned Zimbabwe Posts and Telecommunications Corporation (ZPTC) before leaving due to frustration with government bureaucracy.
• 🚀 He founded Retrofit Engineering in 1988, an electrical contracting firm, and was named Zimbabwe's youngest businessman of the year in 1990.
• 📡 Recognizing the limited fixed-line telephones in sub-Saharan Africa, he saw immense potential for wireless telephone networks as a quicker and less expensive solution.

Founding Econet Wireless

• 🚫 Masiyiwa's initial proposal to ZPTC for a mobile network was rejected, leading him to create his own cell phone network by selling Retrofit Engineering to finance Econet Wireless.
• ⚖️ He faced fierce opposition from ZPTC and the Zimbabwean government, including demands for bribes, which he refused as a devout Christian.
• 🏆 After a landmark four-year legal battle that reached the nation's Supreme Court, Econet finally won a license to operate in Zimbabwe in 1998, with the court ruling against the government's telecommunications monopoly.

Expansion and Challenges

• 📈 While awaiting Zimbabwean approval, Econet successfully launched a network in Botswana and later expanded to over 15 countries, including other African nations, New Zealand, and the UK.
• 🏢 In 2000, Masiyiwa relocated his family and Econet headquarters to South Africa, viewing it as the best base for launching a multinational corporation.
• 📰 He further antagonized the Zimbabwean government by bailing out and becoming a major shareholder in the opposition newspaper, The Daily News, which led to its shutdown.
• ⚠️ Masiyiwa also faced challenges with Econet Wireless Nigeria, vowing to regain control despite financial difficulties and criticism.

Legacy and Philanthropy

• 🌟 Strive Masiyiwa became a role model for young African entrepreneurs, recognized for his vision, persistence, and ethical integrity.
• 🙏 He attributes his success partly to his devotional practice of reading the Bible daily.
• 💖 Masiyiwa and his wife, Titi, founded a charitable trust providing scholarships for over 5,000 AIDS orphans by 2003.
• 💰 He serves on the boards of several international development agencies and foundations, with a net worth of $1.3 billion US as of 2020.