London-based Zimbabwean billionaire entrepreneur and philanthropist, Strive Masiyiwa is now the richest black man in Southern Africa with a net worth of over $4.4 billion. The South African mining tycoon has been holding the position since 2008 and Masiyiwa’s new title is thanks to the year-to-date price increase in the shares of his smart-tech company, Cassava Smartech and his telecom company, Econet Wireless Zimbabwe.
Masyiwa’s net worth has increased from $2.7 billion to $4.4 billion as of Wednesday, according to media reports.
The Forbes list is however different, and still has Masiyiwa behind Motsepe but both men have seen their wealth increase since the beginning of the year.
61-year-old Masiyiwa announced his retirement as chairman and director of Econet Wireless Zimbabwe Limited recently and still has over 50% stake in the company he listed on the Zimbabwe Stock Exchange in 1998.
One of his six children, Elizabeth Tanya Masiyiwa has been appointed to the Econet Wireless’ board of directors to help propel the global growth of the company.
The appointment according to the board of directors will bring a wealth of experience, as Elizabeth has worked in various organisations, spearheading investment and funding programs and human capital development.
Meanwhile, Patrice Motsepe recently splashed over $5 million on a wine farm in South Africa.