Strive Masiyiwa: The Telecom Mogul and Philanthropist
Strive Masiyiwa, one of Africa’s top telecom moguls and the founder of Econet Wireless, takes time to share entrepreneurial tips on his Facebook page. Beyond offering business growth advice, Masiyiwa has an awe-inspiring entrepreneurial journey that is as remarkable as his first name. Born in Zimbabwe (then called Rhodesia) in 1961, Masiyiwa’s family moved to Zambia where he grew up. Driven by a sense of purpose after completing his university education in the UK, he returned home to help build the telecommunications industry in Zimbabwe. However, his journey was met with opposition from the Mugabe-controlled government, which claimed a monopoly.
Masiyiwa saw an opportunity that even the government couldn’t see. He famously said, “The government’s refusal to me must surely rank amongst the greatest follies in the world of business: They could have owned the Econet Wireless Group, but instead, they declared war on me!”
Today, Strive is the most successful entrepreneur to emerge from Zimbabwe and East Africa in general. His influence spans across Africa and the globe. Econet Wireless is Zimbabwe’s most successful corporation, with a subscriber base of over 6 million and attracting investors worldwide. Headquartered in Johannesburg, it operates in Nigeria, Mauritius, Ivory Coast, and even beyond Africa, with operations in the UK and China. Econet has a market capitalization of around $600 million.
What to Learn from Masiyiwa’s Daring Pursuits
Be Relentless and Determined
Masiyiwa has faced more fierce competition than most entrepreneurs. When he lost his court cases in Zimbabwe in 1994, he didn’t give up. He persisted and eventually won in 1998, securing a telecom license to provide cell phone services in Zimbabwe. The court ruled that the government’s monopoly on telecommunications violated the constitution’s guarantee of free speech.
For Masiyiwa, obstacles are opportunities in disguise. He believes in never seeing oneself as insignificant, even if others might view you as nothing more than a “grasshopper.” His determination has made him a highly sought-after businessman.
Helping Others Should Cost Nothing
Interestingly, despite being urged to write a bestselling book, Masiyiwa has never published one. Instead, he prefers to share his knowledge through interviews, his blog, and posts on Facebook, allowing more people to benefit from his wisdom. He is Zimbabwe’s largest philanthropist. For over 20 years, through his family foundation, Masiyiwa has provided scholarships to over 100,000 young Africans. He supports over 40,000 orphans with educational scholarships and sponsors students at universities in the USA, UK, and China.
Separate Business from Relationships
Masiyiwa emphasizes the importance of maintaining a boundary between business and politics. He believes you should never go into politics to prosper in business, nor should you use your business to advance political agendas. In his career, Masiyiwa has connected with big names like Richard Branson and heads of state, but when it comes to business, he sticks to a strict process and avoids mixing business with politics.
When You See an Opportunity, Reach Out and Grab It
Masiyiwa is an advocate for identifying needs in your community and creating solutions. In 1994, 70% of Africans had never heard a telephone ring. People across Africa needed reliable, cost-effective ways to reach out to their loved ones. Masiyiwa, a young engineer, set out to address that need. His initiative, Econet, didn’t just provide essential services—it created wealth for people and fostered opportunities for capital growth.
Have Faith in God
As a devout Christian, Masiyiwa’s values are central to his life. While establishing Econet in Zimbabwe and Nigeria, he refused to pay bribes to government officials, opting instead to take legal action. His commitment to maintaining ethical practices, even in difficult times, has distinguished him as an upright entrepreneur. His success with Econet proves that faith in the process pays off.
Prepare and Practice
Masiyiwa often shares lessons from his autobiography in his blog. One notable story recounts how he competed for a telecom license in Botswana against industry giants like MTN, Vodacom, Bharti of India, and France Telecom (Orange). Despite the odds, including financial limitations and being an underdog, Masiyiwa’s team won. He stresses the importance of preparation and hard work, regardless of the disadvantages you face.
Eventually, What Matters is Love
Masiyiwa holds his family and relationships above his business and social status. In his words, “I’m first and foremost a child of God, then a son to my mother, a husband to my wife, a dad to my children, a father to the fatherless, and a mentor to the next generation.” His perspective on love and family reminds us that true fulfillment comes from giving love to others without expecting anything in return.
Strive Masiyiwa’s story is a remarkable journey of perseverance, generosity, and faith. His approach to business and life offers invaluable lessons for anyone aspiring to make a significant impact.