Econet InfraCo Debuts on Victoria Falls Bourse With Record One Billion Dollar Valuation

Strive Masiyiwa’s Econet InfraCo makes history with a $1 billion listing on the VFEX, consolidating telecom and energy assets into a new dollar-backed platform.

By: AXL Media

Published: Apr 3, 2026, 3:04 PM EDT

Source: The information in this article was sourced from Business Insider Africa

A Massive Capital Milestone for Zimbabwe

The debut of Econet InfraCo on the Victoria Falls Stock Exchange represents a watershed moment for the regional financial landscape, as it enters the market as the largest initial listing ever recorded in Zimbabwe. Valued at $1 billion, the company began trading on the US dollar-denominated bourse as the 16th equity, signaling a significant shift in how high-value infrastructure assets are managed and traded within the country. According to market data, the listing was conducted by way of introduction, which establishes a formal presence on the exchange without the immediate issuance of new shares to raise fresh capital.

Navigating the Shift to Hard Currency Trading

The emergence of this new entity follows the strategic delisting of Econet Wireless from the Zimbabwe Stock Exchange, a platform where it had been a primary fixture for nearly three decades. This migration was driven by a need for valuations that more accurately reflect the company's true worth, which was often obscured by the volatility of the local currency. By moving to the Victoria Falls Stock Exchange, the organization seeks to leverage a regulatory environment designed to attract international capital through a stable, dollar-based trading mechanism. Finance Minister Mthuli Ncube noted that this development serves as a clear indicator to global markets that the national investment climate is maturing and remains open for significant business ventures.

Consolidating High Value Infrastructure Assets

At the core of this $1 billion valuation is a diverse portfolio that includes critical telecommunications towers, renewable energy systems, and prime real estate holdings. These assets were previously integrated within the broader Econet Wireless structure but have now been spun off to provide a focused, standalone platform for infrastructure investment. This reorganization included a dividend in specie distribution, where 25% of InfraCo shares, worth approximately $250 million, were allocated to existing shareholders. According to Godfrey Gomwe, the chairman of the firm, the company is already operating at a significant scale, and the current structure is designed to unlock the latent value of these capital-intensive assets through disciplined governance and operational execution.