Strive Masiyiwa’s Econet Wireless Zimbabwe is planning to delist from the Zimbabwe Stock Exchange (ZSE) and spin off its infrastructure business, Econet InfraCo, valued at $1 billion, onto the Victoria Falls Stock Exchange (VFEX).
The move aims to unlock value for shareholders, who have long complained about local currency volatility and thin trading distorting share prices.
The proposal includes an exit package for minority shareholders, offering $0.50 per share, comprising $0.17 in cash and $0.33 in InfraCo shares.
However, analysts warn that the valuation and liquidity of InfraCo shares are uncertain, and investors should carefully consider the terms.
Econet’s restructuring is part of a broader trend in African telecoms, where operators separate capital-intensive infrastructure from service businesses to attract steadier investor interest. The VFEX listing could deepen activity on the exchange and attract a new class of investors.
The plan requires shareholder approval at an extraordinary general meeting on February 26, with the InfraCo listing targeted for late March.
