Zimbabwe’s Richest Man Strive Masiyiwa To Invest $400 Million In Egypt

Liquid Telecom, a Pan-African telecoms group owned by Zimbabwean billionaire Strive Masiyiwa, is investing $400 million in data centers and network infrastructure in Egypt over the next three years, in partnership with Telecom Egypt.

Businessman Strive Masiyiwa takes part in a panel discussion at the Anti-Corruption Summit in London, Thursday, May 12, 2016. David Cameron has gathered leaders, civil-society groups and representatives of banks and financial institutions at Thursday’s conference with the goal of producing a strong global declaration against financial wrongdoing. (AP Photo/Frank Augstein, Pool)ASSOCIATED PRESS

Making the announcement in Sharm El Sheikh, Egypt, on the sidelines of the 2018 edition of the Business For Africa conference, Masiyiwa said the deal was signed to celebrate the completion of Liquid Telecom’s extensive “Cape to Cairo” network, which connects 13 African countries with more than 60,000km of fibre optic cabling. The network will be absolutely critical in bringing fibre to the home (FTTH) services to millions of people in Africa over the coming years.

“We have already crossed Africa from East to West through Sudan and Chad. We are at the Nigerian border and we expect to reach Abuja by the end of January in time for the AU Summit. We want to reach Dakar before President El-Sisi finishes his term,” Strive Masiyiwa said at a press conference.

Telecom Egypt will use Liquid Telecoms network to boost connectivity between Egyptian businesses and other regional business hubs across the continent.

Strive Masiyiwa, founder of Pan-African telecoms company Econet Wireless, is the wealthiest man in Zimbabwe with a fortune FORBES estimates at $2.4 billion today.

Post published in: Business

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