Zimbabwe’s Econet plots Botswana Mascom itemizing by October

Zimbabwean billionaire Attempt Masiyiwa plans to listing a part of his Botswana telecoms operator Mascom by October this 12 months, he mentioned on Tuesday, in what he expects to be one of many largest flotations on the Gaborone bourse.

Masiyiwa, by his holding firm Econet, is finalising a $300 million cope with South African rival MTN Group to boost his stake in Mascom from 7% to 60%. 

“That is what I’ve at all times wished to do …I’ve by no means held sufficient shareholding to push it by,” he advised reporters.

He mentioned extra particulars can be offered sooner or later however mentioned anybody who can elevate $10 ought to be capable to purchase shares in Mascom, which Econet valued at greater than $600 million when it agreed to purchase out MTN’s 53% holding.

Masiyiwa based Mascom 21 years in the past, a number of months earlier than he arrange Econet in Zimbabwe. It’s Botswana’s largest cell operator with 1.7 million prospects. The remaining 40 p.c of Mascom is owned by the Botswana Public Officers’ Pension Fund. 

Author: Kutenda Abioye

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