Days after announcing its infrastructure spin-off, InfraCo, Econet has moved to outline the new firm’s first major project: a large-scale industrial park near Harare’s international airport.
The group says the land will be converted into an industrial park anchored by up to 100MW of solar power and a large-scale data centre. The development will also include core infrastructure such as power and water to support industrial activity.
“Our vision is to create the infrastructure needed for a modern industrial park, making it easier for investors to come in, take advantage of the facilities, and create jobs,” said Econet Group CEO Douglas Mboweni.
InfraCo will roll out the project in phases, including the phased deployment of the 100MW solar plant, in line with demand. Mboweni said work on the first phase has already begun. Once all development approvals are in place, the 300-hectare project is expected to be one of the most ambitious private developments since Independence and will align with Government’s national industrial development plans.
Mboweni added that the industrial park is one of several major projects already approved by Econet Group founder Strive Masiyiwa. “This is going to be huge, and we will soon be presenting our plans to the Government,” he said.
The plans were disclosed after the announcement of Econet InfraCo, which Mboweni stressed is not a new business but a long-standing unit within Econet Wireless. Until now, InfraCo has primarily supported the group’s own extensive infrastructure needs.
Earlier this week, Econet issued a cautionary statement announcing plans to list Econet InfraCo on the Victoria Falls Stock Exchange (VFEX), subject to shareholder and regulatory approvals.
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