Econet Wireless is preparing for what could become the largest initial public offering in Zimbabwe’s capital markets, after assigning a valuation of around US$1 billion to Econet InfraCo, its newly established infrastructure development and management business.
Econet InfraCo owns and operates the group’s national portfolio of telecommunications infrastructure assets, including towers, power systems and real estate, making it Zimbabwe’s largest private infrastructure group. The company is now preparing for a listing on the Victoria Falls Stock Exchange (VFEX).
Recently published financial disclosures show Econet InfraCo delivering strong revenue and profitability. Local reports indicate the valuation reflects Econet Wireless’ implied market capitalisation of approximately US$507 million, combined with an independent valuation of Econet InfraCo at about US$1 billion, underpinned by the intrinsic value of its passive telecoms infrastructure, renewable energy assets and real estate holdings.
The spin-off is designed to unlock value and allow Econet InfraCo to pursue broader infrastructure opportunities across Zimbabwe. One such initiative is the planned Econet Industrial Park, a 1,000-acre development near Harare’s main airport that will include a data centre aligned with the government’s national AI strategy.
The VFEX listing will be carried out by introduction, meaning no new capital will be raised. Instead, shares will be distributed to existing shareholders. Following the listing, Econet InfraCo plans to attract investment into real estate, tower infrastructure and power, leveraging long-term tenancy agreements and nationwide site coverage.
