Breaking: Strive Masiyiwa retires from Econet Board

Leonard Sengere Avatar

Leonard Sengere

Strive Masiyiwa, Fortune World's Greatest Leaders

Econet Wireless has announced that their billionaire founder, Strive Masiyiwa, has stepped down from the board of directors of the ZimbabweStock Exchange listed Econet Wireless Zimbabwe Limited.

Masiyiwa had been on the board since the founding of the company although he has not been resident in Zimbabwe for many years.

Announcement given to ZSE.

What started with Econet for Strive Masiyiwa morphed into a truly gigantic empire. In all this, Econet no doubt remained dear to him, being the first child of sorts. The man has so much on his plate now and I imagine that’s why he is stepping down now. The Econet boat seems steady enough, even as he has been physically absent, the company has thrived. 

Also, being a major shareholder, he will retain control over the board through strategic board appointments. Not to worry for him in that regard. Remember he is not on the EcoCash board but his daughter is on there, and you can bet your bottom dollar that their visions for the company align quite well.

We recently found out that Masiyiwa was appointed as a member on the Bill & Melinda Gates Foundation board. I guess as a billionaire, now he can focus on that and other work that’s truly in his heart. The man does have other philanthropic enterprises and so his time will be well accounted for.

What do you think of this new journey for Zimbabwe’s richest man? Will Econet survive without their founder? Does this mean he is satisfied with the current leadership and succession policies to be hands-off like this? You let us know what you think in the comments below.

38 comments

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  1. Ex Econet Employee

    This is good. Econet has to evolve from a dictatorship to a mordern company were innovation is valued. The departure of Fayaz King was the first step. The whole culture were things were being done because Strive said so was killing the company. Everyone was scared of questioning Strive’s decision. When the guy launched Kwese some of us knew TV was a content game. Strive was trying to compete on the technology front. You don’t have to like soccer to know most men pay for DSTV to watch sport and women pay to watch South African soapies. Why not create the content first? Dare you question Strive’s inspired decisions then his enforcer then, Fayaz King, would kick you out.

    I hope they also kick out some dead wood in the engineering and IT departments.

    Reply
  2. JAMA

    Yes a shareholder has got the right to be employed in the company but sometimes its resilience is tested by non-interference in the affairs of the company especially when it comes to strategic decision making.This move clearly shows the trust Mr Masiyiwa has in the remaining board with regards to issues to do with corporate governance etc.It will also give him some room to focus on other key duties in various boards he sits.

    Reply
  3. Mr Realtalk

    Kushanda nepfungwa nesimba kwakanaka zveshuwa.

    Reply
  4. Samaita

    “Paper” retirement. If he can still call the CEO to give “advice” and also influence board selections, he is still in! Masiyiwa is a dictator who does not want anyone questioning his decisions, as those with internal “files” can testify.

    Reply
    1. zj

      if he wholly owns the company then whatever bad things you say dont count.

      Reply
      1. Samaita

        Garai pasi baba kkkk. Econet Wireless Zim is not wholly owned by Masiyiwa.

        Reply
        1. Nii Armah Tagoe

          If through the same dictatorship you claim has brought the company this far , I think you should respect it. We are looking for RESULTS , not what you think? Besides what you think has not built any conglomerate, has it ?

          Reply
          1. Knowledge Mangezi

            Amen to this and it’s clear dectatorship, autocratic,,,,those things brings results.kwete zvekujaidzina tichiti rezvana pabasa.
            Strive has results to show

            Reply
            1. Samaita

              Yes my little boys being a dictator has nothing to do with results, it is what it is. Marasika papi kkkk. Non dictators get results too, simple.

              Reply
              1. The Empress

                BUSINESSMAN! Not Dictator!
                The main goal for a company to succeed is to provide a good /service that satisfys the need of customers at a price that they are willing to pay resulting in profits for the company. It requires a leader who is capable of leading the company to succeed in its goals for profit which will in turn satisfy the shareholders when they receive dividends.
                Strive is deserving of praise, because he founded Econet and then managed to grow the business from basically nothing to the big corporation it is today. This required perseverance but also a lot of skill. Strive didn’t invent the concept of a cellular company but you could argue he definitely pioneered the concept of how to operate one profitably in Zimbabwe. Just look at the walking dead that’s Telecel and the large but somehow unprofitable Netone.
                Kwese TV was a flop! So what? It was a miscalculation and Econet will probably make more of them. But here is the thing Strive didn’t plan to make a flop he thought it was a good idea nd a chance to open up a new revenue stream for Econet. Turns out that he was wrong but that willingness to take risks was what made him successful in the first place. Hindsight is always 2020 everyone now sees how Kwese was doomed to fail and says so loudly. But who could have thought burying a Fibre optic cable from the sea all the way into Zimbabwe could be so profitable before it was done?
                Google everyone knows Google and how successful it is, but aside from a few high profile mistakes (Google+) few people realise the sheer number of flops that the company has had (around 50 at last count) (Google it)
                On Strive’s style of management whilst it may not be everybody’s cup of tea, it clearly produced results. Sometimes those with a vision can’t understand why something that’s simple to them is so very hard to understand for other people and it results in the CEO pushing them to work at levels that the people consider painful.
                This is why there are so very few top notch strikers that become great coaches, what they consider easy to do is sometimes godlike and impossible for us mere mortals.
                So in the end those employees who can’t keep up drop out or get kicked out of the race.

            2. Gwinhe lvy

              Mleme primary school 72. Chiredzi

              Reply
    2. The Empress

      It would be a stupid Econet CEO that’s not willing to take or at listen to the advice of a successful person like Strive. Aside from the fact that Strive is a major shareholder of Econet and all that would be required for him/her to be out of a job. Is for Strive to mobilse enough shareholders to get a majority vote to fire the CEO.
      Board members are elected by the shareholders to protect their interests or guide the company in a direction that suits their interests.
      And usually the major shareholders nd the coalitions they form have the advantage of getting their people elected to the board of directors by majority votes.
      So for a CEO the most important people to always keep happy are
      -Shareholders
      -Customers
      Depending on the situation the number one position changes.
      Employees are always a distant third.

      Reply
    3. The Empress

      Internal files?
      What nonsense.
      Sometimes we fail to understand what being elected to a company’s/Charity board of directors actually means.
      In a company its maybe because you own so many shares in the company that they basically have no choice. (money talks, 💩walks)
      It’s also Recognition of an individuals capability/integrity by their peers.
      After all it’s reasonable to assume that if an individual managed to build a business from the ground up to a multi billion coparation the person can offer valuable insights that’ll help the company prosper if elected to the company board of directors.
      When it comes to people who are serious. Capability and the level of perceived success is what matters.
      Having white hair nd lines on your face or a bunch of kids in rags calling you daddy maybe good enough to get chosen as a village elder, but to think that living a long time or doing something that a 14 old boy can do is enough to be put in a position of authority at the higher levels it’s nothing but a sad joke.
      INTEGRITY! (or perception of integrity) is also very important when you get elected to the board of trustees on a charity as big as the Bill Gates foundation.
      You can be sure that they investigated Strive throughly before even offering him the position.
      After all it would be quite embarrassing and damaging to the image of any charity if it was found out to have trustees that maybe for example run child prostitution rings, run a ponzi scheme etc, etc (I’m sure that you can think of more examples)
      So the fact that they couldn’t find anything that could bar him from being a trustee is a vindication of his integrity.
      Let’s not forget that Strive was not exactly the flavour of the month to various members of the government and the fact that even they couldn’t find something to nail him to wall with tells you all need to know about the value of those so called “internal files”
      Now some people are going to hate and say that Bill Gates just needed a Black Face to put on the board of trustees.
      Strive was chosen from all black business people in Africa by BILL GATES! as someone he would not be ashamed or embarrassed to be associated with as the charity tries to make the lives of people in Africa and the world a little bit easier. As africans/Zimbabweans we all know the truth about the levels of corruption that plague the continent, and Strive managed to beat out all competition and was elected to be a trustee. That level of integrity is hard to find. And even though it really has nothing to do with us we can be a little proud as Zimbabweans

      Reply
      1. Samaita

        If you still have you O Level English SUMMARY notes pluz re-visit them. I don’t have time for compositions sorry 🤣🤣🤣

        Reply
    4. Anonymous

      Why don’t people start their own companies and implement their views .Strive did so and implemented his and through that dictatorship he has created jobs for thousands of Zimbabweans.You haven’t even heard the employees on strike any day meaning they are oky better than the civil service

      Reply
      1. Samaita

        What a poor “analysis” 🤣🤣🤣

        Reply
  5. Staight Talker

    This man suffered enough to launch Econet and he managed to execute his idea very well. Those who say he was a dictator are criminals who worked for Econet and failed to steal from him. No one can start a company and let someone come and destroy it by making decisions which are not in the best interests of the company. Masiyiwa guarded his baby jealously. Start yr own Company we wanna see if u dont do the same. No one want to lose. Zimbos vanoda kungoshora instead of celebrating him as a Hero. Econet saved Zim when it was at its lowest. We suffer cz we hate successful people instead of learning from them.

    Reply
    1. Learn to appreciate

      I was about to reply some of the comments i saw about Strive being a dictactor, to think of how he started Econet against all odds, fighting all adversaries, to where Econet is now, and to where he is now, and to how much he has achieved, its phenomenal. Its out of his own sweat that he achieve such heights, not anybody’s, actually those calling him dictactor are the very dictactors, because you want things to go your way, you want to dictacte how things go in somebody’s territory. To receive such milestone that Strive has managed to reach, shows how good of a decision maker he is. I then wonder what Ex Econet Employer is saying. Build your own empire, then do what you want to do and let us learn to give praise where it is due. This man did a great job for our nation, he indeed a visionary.

      Reply
      1. Tumi

        Louder those that criticise him, have got nothing to show.
        He has done a lot taking 250000 students overseas and not only in Zimbabwe but also in Nigeria and South Africa.He funded some start ups. He has a Facebook page that is full of wisdom, entrepreneurship

        Reply
        1. Dux

          link to fb page please

          Reply
    2. Boyka

      Big upp straight talker

      Reply
  6. Samaita

    Founders can be kicked out of their own companies as well, regardless of how they “suffered” to found them!

    Listen, boys, Masiyiwa’s leadership style is dictatorial. This has nothing to do with whether he eventually succeeded or not! Even some very corrupt people end up billionaires! After all most of you defending him know nothing that happens behind the curtains! I would rather listen to someone who actually worked there than spectators!!

    Reply
    1. Knowledge Mangezi

      This one

      Reply
    2. Tsindi Mago

      If dictorship makes the company grow, and employs you then it has been correctly applied. If you open your own company it is only those people you trust whom you can give an ear to. So if you weren’t the trusted one what ever good ideas you had for Econet amounted to nothing. In business we aren’t in to make everyone happy but to make money and safeguard our wealth. STRIVE IS THE BEST ENTREPRENEUR TO EVER EMERGE FROM ZIMBABWE.

      Reply
    3. Macdonald Mamina

      So you were waiting for this post to make your “dictatorship” allegations? Negative people are always waiting even for “perceived bad news” to say “we told you so”🤣🤣🤣

      Reply
    4. Samaita

      Only ignorant spectators replying to my comment 😭😭. I don’t operate on mob psychology, I stand by my position: Strive is a dictator, simple!!

      Reply
  7. Leonard Mahlangu

    This man, Strive Masiyiwa, is undoubtedly one of Zimbabwe’s best businessmen if not outrightly the best. Yes, no one can be loved by everyone, but, please let’s learn to give honour where it is glaringly deserved!! I humbly salute and respect him for his business acumen. If I may ask, has any of those who have come out with “guns blazing” against Masiyiwa made their first million???

    Reply
  8. Tayenda

    Zvinotenda kutendwa. Hazvidi godo. Wanirwai nyasha muitewo zvenyu vanoti he is a dictator. Munhu anoita dictator PA company yaakazvitangira ega hre. PA business Munhu anoita kuti rikure in different ways. His ways are truly admired by those who wish to be at such level. Being a billionaire is not easy.

    Reply
  9. Liberty

    This man was done a greatest task to our nation. When we look to telecommunication to our nation is the one contributed to a greater than others. Well job done, I really appreciate to him .

    Reply
  10. Brittov Kunguma

    Good move ,he needs to focus on other ideas and Bill Gates foundation

    Reply
  11. Tendai Matafi

    Very few business people are like Masiiwa. He also go further and assist some local authorities like harare during hard times. It’s only that you can’t pliz every one and that’s why Jesus was killed. Even if econet increases its tariffs above other players I don’t change the line because I know that I will be supporting other students education.

    Reply
  12. Allen Sibanda

    This man did a great job…. let’s appreciate this glomourous investment he did for the nation….Tanga tanzwa nekuti kana tava kuda kufona toita zvekuinda mugomo kt tiwane network kana kuita zvekunyora tsamba….but the motivative man revoked that uncivilized practice….So for me l greatly his work done…

    Reply
  13. Dopori

    One man’s meat is another man’s poison; one man’s liberator is another man’s terrorist/dictator.

    Reply
  14. Dopori

    “I doesn’t matter if a cat is black or white as long as it catches mice.”
    _______________________________________________________________________
    Deng Xiaoping

    Reply
  15. Samaita

    Idiots think they have to agree with masses to be correct. That’s cowardice as well! I have generated a lot of debate by suggesting Strive’s leadership style is dictatatorial and obviously some ignorant mice kkkk think otherwise. They think of a dictator in political circles only nit in the business sense! Being a dictator has nothing to do with results, poor mice kkk. How I wish everyobe has at least a simple understanding of business terms. Hakusi kutuka it’s a leadership style! Those who know their business aren’t surprised.

    Reply
  16. Visionary

    Yes, Strive is a dictator, a very successful one at that, who has built a huge empire.
    Kudos to him!
    He knows when to stop the rot, even if it’s undemocratic. We need dictators who have his vision as most successful organisations or countries are built by dictators who have the right proper vision.

    Reply
  17. Ex Econet Employee

    Strive has stans I see. The man is a dictator. While that leadership style brought Econet this far, it’s not sustainable. Take Kwese as an example. If proper market research jad been done, then that product wouldn’t have been launched or launched differently. I personally questioned the viability of Kwese but I was silenced by Strive’s enforcer Fayaz King. Where is Fayaz now? At the UN with a comfortable salary.

    I could go on about products we were told to implement that eventually failed. EcoGas, EcoHealth, EcoFarmer, EcoSolar, the water filtration company e.t.c. We were always told that Strive had received these ideas after prayer. His stans enforced this notion.

    If Econet and its subsidiaries are to become technology companies instead of just a telco then they have to innovate. Innovation does not thrive under dictatorship.

    Reply
  18. y

    c

    Reply

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