Econet Wireless Zimbabwe has appointed former chief operating officer Fayaz King as chief executive officer of its infrastructure subsidiary, Econet InfraCo, in a move that comes ahead of the unit’s planned listing on the Victoria Falls Stock Exchange.
King, who previously served at Econet before leaving in 2019 to take up a senior role as Assistant Secretary General at UNICEF, will assume his new position on March 1, 2026.
His appointment comes at a pivotal time for the business. Econet InfraCo is expected to list on the VFEX at the end of March, subject to shareholder approval of a proposal to migrate the parent company, Econet Wireless Zimbabwe, from the Zimbabwe Stock Exchange to an over-the-counter trading platform on the VFEX.
Details disclosed in a recent shareholder circular show that InfraCo, which has operated as an internal division of Econet, generates annual revenues of nearly US$150 million and earnings before interest, tax, depreciation and amortisation (EBITDA) exceeding US$50 million.
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The subsidiary carries no standalone debt, as borrowings remain on the parent company’s books — a factor that has contributed to independent valuations placing its worth at around US$1 billion.
Econet InfraCo’s core business revolves around leasing telecommunications towers, power infrastructure, land and buildings. Analysts note that the model shares characteristics with a property-focused enterprise, given its emphasis on infrastructure and real estate assets that generate recurring rental income.
The unit earns its income in US dollars, positioning it favourably for listing on the VFEX, which trades in foreign currency.
Over the years, Econet built up a substantial property portfolio, partly as a hedge during Zimbabwe’s hyperinflationary period. These land and building assets now fall under InfraCo, giving the subsidiary flexibility to develop, lease or dispose of properties as part of its growth strategy.
Among its key projects is a planned industrial park on a 300-hectare site near Robert Gabriel Mugabe International Airport in Harare, land the company has held for several years.
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