Misplaced Pages

Strive Masiyiwa

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.

This is an old revision of this page, as edited by Jamesmidmer007 (talk | contribs) at 08:50, 24 August 2009. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Revision as of 08:50, 24 August 2009 by Jamesmidmer007 (talk | contribs)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)

Strive Masiyiwa (born 1961) is a Zimbabwean businessman and cellphone pioneer.


Strive T. Masiyiwa is founder and CEO of South African based, diversified international telecommunications group Econet Wireless which operates in the core areas of mobile cellular telephony, fixed public networks, internet and satellite services. Under his leadership and guidance, Econet Wireless has developed, since its formation in 1993, into a global telecommunications enterprise with operations and offices in more than 14 countries Africa, Europe, the East Asia Pacific Region and South America.


PERSONAL AND EARLY CAREER

Masiyiwa was born in Zimbabwe (at the time Southern Rhodesia) in 1961. As a child, his family moved to Zambia to escape the strife of the collapse of the Ian Smith government. In Zambia, Masiyiwa’s parents ran a family business involved in farming, retail and transportation.


At the age of 12 he was sent to school in Scotland following which he returned to Zimbabwe with the intention of joining the anti (Smith) government forces. However, he was persuaded to return to the UK to study, where he achieved a degree in Electrical Engineering at the University of Wales.


Following a brief career in the computer industry in Cambridge, he returned to Zimbabwe hoping to help with the country’s reconstruction post the bitter war for independence.


He joined Zimbabwe Posts and Telecommunications (ZPTC), the national telephone company, as a senior engineer and was promoted to principal engineer within a couple of years.


Frustrated by government bureaucracy, he left ZPTC in 1988 and formed Retrofit Engineering, an electrical contracting company, which achieved rapid success, resulting in him being chosen as Zimbabwe’s youngest-ever Businessman of the Year in 1990.


ECONET WIRELESS


Recognising the enormous potential of cell phone technology in sub Saharan Africa, Masiyiwa sold Retrofit to form Econet.


After a significant battle with the Zimbabwean government, Econet began its operations as a cell phone operator in Zimbabwe in 1998, where the company has become the largest telecommunications company and one of the only two listed telecoms companies. Soon after obtaining a license in Zimbabwe, Econet decided to expand its operations in Africa and in 1998 Mascom Wireless was established in Botswana. Mascom has since grown to become one of the success stories of the African telecoms sector, and currently enjoys a market share of over 70 percent.


In 2000, Econet, now based in South Africa, launched its most ambitious project ever when it put together a bidding consortium for a license in Nigeria. The consortium, operating under the name Econet Wireless Nigeria, was licensed at a cost of $285 million. The other company was MTN South Africa. During the first year of operation, Econet dominated MTN in Nigeria, establishing a market share of 57%. The success of Econet attracted the attention of international investors who considered Econet a takeover target, attempts which Econet fiercely resisted, in turn creating acrimony with the local shareholders. This in turn resulted in a shareholder dispute which is currently before Nigerian courts.


In 2001, Econet created a consortium with South Africa’s power utility, Eskom, to bid for various telecoms privatizations in Africa. The joint venture company, MKC, bid successfully in two countries. The first country was Lesotho, where MKC took over the state owned fixed network and also built a second mobile network, which is run by Econet.


Econet also set up a company in the UK called Econet Satellite Services, the only African telecoms company to be given a full telecoms license by the British government. The company owns a satellite network system which links more than 50 African networks to the global telecoms networks, and has firmly established the Econet brand in the highly competitive UK telecoms carrier market.


With its growing international reputation, Econet began to seek opportunities further afield beyond Africa, and in 2001 the company successfully bid against international operators in New Zealand and acquired one of the new generation licenses called “3G”. Econet is preparing to build a network in New Zealand once the government has completed the liberalization of the telecoms market.


Econet also formed a consortium with Kenyan partners and set up a company called Econet Wireless Kenya which successfully bid for a third GSM license . In 2005, Econet also successfully acquired a mobile operation in Burundi which is being re-branded Econet Wireless Burundi.


The Econet Group is also exploring several opportunities in targeted African other international emerging markets.


ABOUT ECONET WIRELESS INTERNATIONAL


Econet Wireless is a diversified telecommunications group with more than 11 million subscribers and operations in nine countries in Africa, Europe and the Asia Pacific Rim. It offers products and services in the core areas of mobile and fixed line telephony services, internet and satellite communications.


The group is headquartered in South Africa and runs each of its operation as a stand-alone entity with full local board and management control. Econet currently has operations and offices in Botswana, Burundi, Kenya, Lesotho, New Zealand, Nigeria, South Africa, the UK and Zimbabwe.


Its expansion model is to work alongside committed partners who co-invest in order to provide customers with cellular phone services as well as internet, fixed wireless, phone shop, satellite and transaction processing services


The company has an outstanding record of success and has consistently secured significant market share as a new market entrant. Econet launched its first cellular phone service in Zimbabwe in 1998, having been granted the third license for the country in December 2007. Despite its two competitors being operational for two years already, Econet assumed a market leading position and listed the company on the Zimbabwe Stock Exchange. In August 2001, Econet Wireless launched in Nigeria and achieved 57% market share in its first year of operation.


A cornerstone of the company’s success is its innovative approach and its dedication to its customers. Econet was the first mobile phone company in the world to introduce mobile news from BBC World News, CNN and South African Broadcasting Corporation. It was also the first operator to introduce a duo-numbered SIM card in 1998 and the first operator from an emerging market to own a 3G licence in an OECD country, in New Zealand.


COMMUNITY WORK AND SOCIAL INVESTMENT


Through Econet’s subsidiaries the Group funds one of the largest orphan care programs in Africa, run by Capernaum Trust. Established in 1999, initially as the social investment arm of Econet Wireless Zimbabwe, the Trust is currently responsible for over 26,000 orphans, mainly in Zimbabwe.


Under the Trust’s Scholarships Program, educational support is provided to orphans through payment of school fees, school uniforms and other related costs. The Trust also has a “Life Skills Training Program” that focuses on empowering orphans to deal with issues of self-esteem, identity, purpose, survival, career guidance, leadership and entrepreneurship. It also organises “Reunion Programs” which are monthly gatherings of children taken from the same locality to reinforce teachings and concepts they are taught. These meetings are designed as a monitoring mechanism to ensure behaviour change in the lives of the children. In addition, the Trust has a “Career Guidance” program for school leavers, some of whom then have the opportunity to begin careers at Econet.


Econet has also established the Joshua Nkomo Scholarship Fund, a pan-African scholarship program that provides educational assistance to bright high school and university students regardless of their race, gender and/or financial background. The program was inaugurated in Zimbabwe in 2005 and is being expanded to other countries in Africa in which Econet operates. Econet companies are also involved in other social investment programs that include support to business and religious and sports organisations.



ECONET VALUES


Econet is one of Africa’s most recognised brands.


The Group has companies involved in a range of sectors as diverse as agriculture and banking but its principle area of operation is telecommunications. It was founded with a vision to provide international telecommunication services across the world, beginning with Africa.


At its core, the company has strong, uncompromising values. Econet ensures that:


...each member of the team is an intrinsically valuable member of the organisation irrespective of gender, race or position


...it delivers the positive transformation of its customers’ lives and the communities in which it operates, hence its branding “Inspired to Change Your World.”


...its community activities improve the lives of the under-privileged of society


...the company does not condone nor support any form of corruption, it operates within internationally accepted corporate governance and ethical standards.


' OTHER ACTIVITIES''''


A recognised entrepreneur Masiyiwa helped fund the Daily News, the independent opposition newspaper in Zimbabwe which after a prolonged battle was shut down by the Mugabe government in September 2003. He has continued to be involved in the development of Africa’s independent media.


He is a well-known international business leader who has won numerous international recognition and awards for business excellence. In 1999 he was named by the Junior Chamber International (Jaycees) as one of the “Ten Most Outstanding Young Business Persons of the World.” In 2003 he was chosen as one of the “15 Global Influentials of the year” in a CNN/Time Magazine poll.


Over the years Masiyiwa has served on many international boards and foundations, and has also been involved in numerous initiatives to promote entrepreneurship and social development in Africa. In 2003 he joined the Rockefeller Foundation Board of Trustees and was subsequently appointed to the Board of the Alliance for a Green Revolution in Africa a venture backed by the Rockefeller and Bill Gates foundations. He is also a member of the Nelson Mandela Foundation Advisory Committee.


Outside his business interests Strive Masiyiwa is also active in promoting awareness on the impact of AIDS in Africa. Capernaum Trust, a foundation which he and his wife founded and fund, currently provides scholarships to more than 26 000 orphans in Zimbabwe.


As one of the most respected African business leaders today, Masiyiwa speaks regularly on African business at major international business gatherings, and has been regularly featured in leading international publications and television programmes, among them the Economist, Newsweek, CNN, Barron’s of New York and the Financial Times.


Masiyiwa, a committed Christian, is noted for his determination, social conscience and abhorrence of corruption. He is married with five daughters and a son and lives in South Africa.




External links

Categories: