Econet Wireless has confirmed it has begun discussions with the Zimbabwe Stock Exchange (ZSE) over issuing a circular to shareholders on plans to voluntarily delist from the bourse, ending years of public trading.
The move follows steps initiated about two weeks ago by the telecommunications company, which is controlled by billionaire Strive Masiyiwa. Econet said the decision is driven by long-standing frustration over what it describes as a stubborn valuation discount, despite strong operations and regional peers commanding higher market multiples.
According to the company, Econet has consistently traded well below comparable African telecom operators, many of which now attract valuations of between six and eight times enterprise value to earnings before interest, tax, depreciation, and amortisation (EV/EBITDA) after separating their infrastructure assets.
As part of a broader restructuring aimed at unlocking shareholder value, Econet plans to spin off its infrastructure assets into a new entity, Econet Infrastructure Company Limited. The proposed company will house the group’s towers, power, and real estate assets and is expected to be listed on the Victoria Falls Stock Exchange (VFEX).
Econet said it intends to retain a 70 per cent controlling stake in the new infrastructure company, while allowing investors exposure to assets that typically attract long-term capital and higher valuations.
Infrastructure separation has become a common strategy across Africa’s telecoms sector, with companies such as MTN, Airtel, Vodacom, and Orange either selling or carving out their tower businesses to sharpen focus on core telecom services and unlock value. Econet’s move aligns it with this trend, though under a structure it says better suits its strategy.
The company noted that the proposed delisting from the ZSE would not be abrupt. Shareholders are expected to be offered a voluntary exit ahead of the move, with options to cash out or receive part-payment in shares of the new infrastructure company.
A shareholder vote is expected in January 2026, which will determine whether Econet formally exits the ZSE and begins a new phase as a privately held telecoms group with a separately listed infrastructure arm.
