Econet Wireless has begun discussions with the Zimbabwe Stock Exchange (ZSE) on issuing a circular to shareholders as it moves closer to a voluntary delisting from the bourse.
The talks follow the telco’s announcement two weeks ago that it was exploring an exit from the exchange, a step that would end years of public trading at what the company describes as a persistent valuation discount. Econet, which is controlled by billionaire Strive Masiyiwa, says the move is part of a broader restructuring aimed at unlocking long-term shareholder value.
At the core of the decision is frustration over how the company is valued. Econet says its shares have consistently traded below those of regional telecom peers, many of which now command valuations of 6–8x EV/EBITDA after separating their infrastructure businesses. In contrast, Econet believes the market has yet to fully recognise the value of its assets.
Rather than sell its towers outright, the company plans to spin out its infrastructure assets into a new entity, Econet Infrastructure Company Limited, and list it on the Victoria Falls Stock Exchange (VFEX). Econet said late Tuesday that it is in discussions to pursue the listing. The new company would hold towers, power, and real estate assets, while Econet retains a 70% controlling stake.
The strategy mirrors a broader trend across Africa’s telecom sector. Operators such as MTN, Airtel, Vodacom, and Orange have either sold or carved out their tower assets, attracting long-term capital and sharpening their focus on core telecom services. Econet’s move signals an attempt to follow the same value-unlocking playbook but on its own terms.
