Econet Wireless Zimbabwe has appointed former Chief Operating Officer Fayaz King as Chief Executive Officer of its infrastructure arm, Econet InfraCo, tasking him with leading the company’s listing and long-term investment strategy.
King, a seasoned executive who left Econet in 2019 to serve as Assistant Secretary-General at UNICEF, will assume the role on 1 March 2026.
He will spearhead Econet InfraCo’s listing on the Victoria Falls Stock Exchange (VFEX), targeted for the end of March, subject to shareholder approval of the proposed migration of parent company Econet Wireless from the Zimbabwe Stock Exchange to an Over-the-Counter platform on the VFEX.
Beyond the listing, King will drive efforts to unlock value from Econet’s extensive tower infrastructure and substantial property portfolio. During the hyperinflation era, Econet strategically invested in real estate to protect its balance sheet. That portfolio — comprising land and buildings across the country — now sits within InfraCo, giving the company flexibility to develop, lease or dispose of assets as part of a structured capital allocation strategy.
For the first time last week, the group disclosed that Econet InfraCo generates close to US$150 million in annual revenue and more than US$50 million in EBITDA. The business is debt-free, with all borrowings held at parent level, a balance sheet strength that has contributed to independent valuations of around US$1 billion.
Analysts have likened InfraCo’s model to that of a real estate investment platform, given its recurring US dollar revenues from leasing towers, power infrastructure, land and buildings, making it well-suited for the VFEX.
InfraCo is also moving into active asset development, including plans for a 300-hectare Industrial Park near Robert Gabriel Mugabe International Airport in Harare, a project expected to anchor its next phase of growth.
