Masiyiwa is the controlling shareholder of publicly-listed mobile telecom Econet Wireless Zimbabwe. New taxes were imposed on the company and revenues declined since 2014, pushing down the share price more than 63 percent.
Econet has been laying off workers and in June reportedly cut the salaries of workers by 35 percent. A devout Christian, Masiyiwa has a plan. He plans to list his U.K.-based broadband group Liquid Telecoms on a European Stock Exchange — a move that could significantly boost his dwindling fortune. Liquid has operations across Africa.
Masiyiwa recently received awards in New York, including one from the U.N. Foundation recognizing his philanthropy.
He was honored for his efforts to fight the Ebola outbreak in Liberia, Guinea and Sierra Leone. Masiyiwa responded to the African Union call for African businesses to act on any African situation that threatened the entire region.
Sources: Forbes, InnovationVillage.
