Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


Econet Preps London IPO, Plans More M&A

Article Image
Econet is considering an IPO on the London Stock Exchange to raise US$1 billion and may also list its shares on the Johannesburg exchange to raise further capital, according to a report from Bloomberg.

Privately-held Econet, which is headed up by founder and Group Executive Chairman Strive Masiyiwa, has a strategy of acquisition-lead growth and, through operating units such as Liquid Telecom, has been building its fixed line and wireless network assets across Africa. (See Liquid Telecom Wins Approval for $470M Neotel Deal and Liquid Telecom Expands Into Tanzania With Raha Acquisition.)

Now, according to the Bloomberg report, it's in talks with Millicom to potentially buy some of the mobile operations that the Swedish company (now focused on its business in Latin America) is looking to offload. (See Millicom Heads for African Exit Door: Reports.)

Such a strategy requires significant funding, of course: Econet has been active in the finance markets but is now looking at raising funds through public listings. According to the report Econet, would be seeking to list its stock based on a valuation of $8 billion, a figure based on its planned expanded portfolio. (See Liquid Telecom to Raise $700M.)

Econet founder and Group Executive Chairman Strive Masiyiwa might opt for an IPO, or even two, to help fund further expansion.
Econet founder and Group Executive Chairman Strive Masiyiwa might opt for an IPO, or even two, to help fund further expansion.

Econet's empire already includes Econet Wireless (mobile service operations in multiple markets including South Africa, Botswana), Econet Media (satellite TV in South Africa) and Econet Enterprises (digital education and finance) as well as Liquid Telecom. (See Liquid Telecom Revamps Data Centers in Major Cloud Expansion.)

It also has several operations in Latin America and a wireless services business in New Zealand.

Ray Le Maistre, International Group Editor, Light Reading for Connecting Africa.

Innovation hub


Orange Ventures, Digital Africa promise more funding for startups

Orange Ventures and Digital Africa are teaming up to invest more in tech startups in Africa and the Middle East through Digital Africa's Fuz program and the Orange Digital Center network.


Hot startup of the month: Rwanda's Ampersand

Connecting Africa's hot startup this month is Rwanda's Ampersand, which designs, builds, and manufactures electric motorcycles and battery packs for motorcycle taxis.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Follow us on X

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives


Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.


The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.


Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives


Omdia View: April 2024

By Omdia Analysts

April 2024's telecoms highlights in the Middle East and Africa included a license for Starlink in Ghana, new mobile termination rates in Ethiopia, and 6G trials in Bahrain – that and more in the latest Omdia View.


Leveraging agritech to build resilience against climate change

By Francis Hook

ICT analyst Francis Hook discusses agritech in Africa and how the agricultural sector is using technology to build resilience against the negative effects of climate change and to ensure food security.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up

Sign Up
Tag id test-002