Econet’s DPA targets 50MW solar energy boost in Harare

The Herald 4 June 2026

ECONET InfraCo, through its renewable energy arm Distributed Power Africa, is scaling up its clean energy investments after applying for a licence to construct a 50-megawatt solar plant in Harare.

The utility-scale project marks a significant expansion for the newly restructured, Victoria Falls Stock Exchange-listed infrastructure giant as it aggressively builds out its independent green energy capacity.

The application has been lodged with the Zimbabwe Energy Regulatory Authority (ZERA).

According to a public notice issued by Victoria Falls Stock Exchange-listed Econet InfraCo, the proposed solar project will be located at Godavery Farm in the Hatfield suburb of the capital.

DPA is a leading pan-African renewable energy company specialising in solar energy solutions for commercial, industrial and telecommunications customers.

It was originally built on Econet Wireless Zimbabwe’s extensive experience operating power systems and battery backups for its mobile network base stations.

Currently, DPA manages critical energy infrastructure across several African nations, including South Africa, Kenya, Zambia and the Democratic Republic of Congo.

Locally, its prominent commercial footprint includes major industrial installations such as the 1MW Schweppes Zimbabwe rooftop plant in Willowvale, a 1,8MW hybrid facility at Tanganda Tea’s Ratelshoek Estate in Chipinge and various green energy projects for corporate clients like Delta Corporation and Stanbic Bank.

“Distributed Power Africa intends to generate electricity from the proposed solar plant and supply its customers,” said Econet InfraCo.

The proposed 50MW Godavery Farm development marks a significant scale-up for DPA into large, utility-scale grid supply.

The investment transitions the company beyond its traditional “behind-the-meter” commercial and industrial installations towards directly feeding the national electricity grid.

DPA intends to utilise the electricity generated from the Godavery Farm facility to supply its growing commercial and industrial customer base.

The company would design and deploy tailor-made, engineered energy solutions that are customised to meet the specific customer requirements.

To integrate the new power source into the national network, the project will require a substantial infrastructure buildout, including the construction of a 132/33kV substation on-site at the farm.

The green energy project will connect to the grid through the construction of an approximately 9-kilometer, 132kV single “lynx” overhead transmission line.

This line will link the solar plant directly to a proposed new switching station situated along the existing Dema-Coleford 132kV transmission line.

As part of the statutory regulatory process, ZERA has opened a 14-day window for public consultations, allowing interested stakeholders and residents to weigh in on the utility project.

The proposed investment comes at a time when Zimbabwe is actively diversifying its energy mix away from traditional thermal and hydro dependency.

Persistent climate-induced droughts have severely curtailed hydropower output at the Kariba Dam hydroelectric plant, while the country’s aging coal-fired plants at the Hwange thermal complex face recurrent operational bottlenecks.

In response, Government and private energy players are leaning heavily on solar energy, backed by Zimbabwe’s exceptional solar irradiation levels that average over 3 000 sunshine hours annually.

Under the National Development Strategy (NDS2) and the National Renewable Energy Policy, Zimbabwe is targeting 26,5 percent renewable energy penetration in the national grid mix.

While Independent Power Producers (IPPs) have historically developed smaller captive installations for internal corporate use, ZERA’s active licensing pipeline features dozens of huge new solar projects.

Major projects driving this transition include utility-scale inland initiatives like the Gwanda Solar Project (100MW), localised urban networks and proposed floating solar installations on Lake Kariba.

ZERA has licensed nearly 171 Independent Power Producers (IPPs). However, funding and development challenges mean only about 48 are currently operational, while others remain at different stages of construction, feasibility, or funding.

The energy regulator has licensed numerous IPPs to bridge the national power deficit, of about 2 200MW at peak demand, attract private investment to bypass government financing constraints and diversify energy sources toward renewables.

Zimbabwe produces an average of 1 400MW, through State-owned hydro and thermal power stations, leaving a substantial gap for private players to plug the gap.

Vision behind Econet Infra-Co’s Vic Falls Lifestyle Resort

DailyNews 12 April 2026

ECONET InfraCo – the recently listed billion-dollar infrastructure platform company – has acquired a 100-acre site in Victoria Falls, where it plans to build an upmarket ‘Vic Falls Lifestyle Resort’.

The resort will consist of about 40 luxury villas, built for use by high net wealthy visitors to the city, who plan to stay for two weeks or more.

According to InfraCo, the villas will be designed to cater for every whim of a jet set clientele who expect the best. They will be supported by a club house with a wellness gym, spas, restaurants, gift shops, tennis courts and swimming pools.

The facility will have its own 10-bed private hospital and a helipad for quick transfers to the airport. Equally important, the villas will have their own power and water supply system, with each villa con­nected to fibre as well as satellite internet access. Security to the facility will be pro­vided by 24-hour guards, with additional security guards assigned to any of the 4, 5 and 6-bedroom villas as needed.

Explaining the vision, Econet InfraCo CEO Fayaz King, said: “We need to attract visitors who spend more time in the city if we are to generate more forex for our economy. That means we must also cater for the high net worth visitor – this is the global trend. We are using our skills in developing high-quality infra­structure to enable this development.”

Mr King said each villa will be offered for sale as an investment to Zimbabwe­ans, who will offer them for onward rental as part of the agreement. “The owners will be allowed to use them for about a month a year. But they are there to be rented out for 11 months; that is the concept.”

Econet InfraCo to build luxury resort in Vic Falls

The Financier Gazette 9 April 2026

ECONET InfraCo has announced the development of a multimillion-dollar luxury resort in Victoria Falls as part of the billion-dollar infrastructure platform’s broader strategy to expand into high-end tourism infrastructure.

The project, which will be called Vic Falls Lifestyle, will comprise 40 luxury residential villas supported by premium amenities, including restaurants, wellness centres and sports facilities.

Econet InfraCo’s chief executive Fayaz King yesterday said the project was a landmark development for the country’s luxury tourism sector.

“These will be among the most exclusive residential properties ever developed in Zimbabwe. They are designed to meet the standards of top-tier international hospitality, comparable to presidential suites in leading global hotels,” King said in a statement.

The development positions Victoria Falls as a destination for affluent global travellers seeking privacy, exclusivity, and integrated services.

Recently listed on the Victoria Falls Stock Exchange with a valuation of approximately US$1 billion, Econet InfraCo said the resort would feature a 24-hour, 10-bed private hospital, equipped with emergency services and dental care – an offering designed to meet the expectations of a high-net-worth clientele.

“Security and privacy are central to the development’s value proposition. The gated resort will include round-the-clock security, catering to investors and visitors seeking a secure, secluded environment,” King said.

Under the investment model, buyers would be able to acquire ownership of individual villas, with the condition that units are made available for rental for up to 11 months annually – a structure intended to balance personal use with income-generating potential.

“Victoria Falls requires this calibre of development to attract visitors who not only spend, but also invest in the country,” King said.

He added that Econet founder and group chairman Strive Masiyiwa played a key advisory role in shaping the concept and was expected to be among the property owners.

According to the company, the project had already generated interest from both local and diaspora Zimbabwean investors, as well as international buyers – including Masiyiwa’s close friends and associates.

“Land for the resort has been secured, with planning at an advanced stage, and construction is expected to commence before year-end,” said King.

The Victoria Falls project is Econet InfraCo’s second major development initiative.

Its flagship project, Econet Tech City, is an industrial and technology hub to be built near Robert Gabriel Mugabe International Airport in Harare, and is expected to host approximately 300 businesses on over 800 hectares of land, which the company already owns.

Econet InfraCo to build top-tier luxury resort in Vic Falls

The Herald 8 April 2026

Econet InfraCo has announced the development of a multimillion-dollar luxury resort in Victoria Falls as part of the billion-dollar infrastructure platform’s broader strategy to expand into high-end tourism infrastructure.

The project, which will be called Vic Falls Lifestyle, will comprise 40 luxury residential villas supported by premium amenities, including restaurants, wellness centres and sports facilities.

Econet InfraCo’s Chief Executive Officer Fayaz King said the project was a landmark development for Zimbabwe’s luxury tourism sector.

“These will be among the most exclusive residential properties ever developed in Zimbabwe. They are designed to meet the standards of top-tier international hospitality, comparable to presidential suites in leading global hotels,” Mr King said.

The development positions Victoria Falls as a destination for affluent global travellers seeking privacy, exclusivity, and integrated services.

Recently listed on the Victoria Falls Stock Exchange with a valuation of approximately US$1 billion, Econet InfraCo said the resort will feature a 24-hour, 10-bed private hospital, equipped with emergency services and dental care – an offering designed to meet the expectations of a high-net-worth clientele.

“Security and privacy are central to the development’s value proposition. The gated resort will include round-the-clock security, catering to investors and visitors seeking a secure, secluded environment,” Mr King said.

Under the investment model, buyers will be able to acquire ownership of individual villas, with the condition that units are made available for rental for up to 11 months annually – a structure intended to balance personal use with income-generating potential.

“Victoria Falls requires this calibre of development to attract visitors who not only spend, but also invest in the country,” Mr King said.

He added that Econet founder and Group Chairman Strive Masiyiwa, played a key advisory role in shaping the concept and is expected to be among the property owners.

According to the company, the project has already generated interest from both local and diaspora Zimbabwean investors, as well as international buyers – including Masiyiwa’s close friends and associates.

“Land for the resort has been secured, with planning at an advanced stage, and construction is expected to commence before year-end,” said Mr King.

The Victoria Falls project is Econet InfraCo’s second major development initiative.

Its flagship project, Econet Tech City, is an industrial and technology hub to be built near Robert Gabriel Mugabe International Airport in Harare, and expected to host approximately 300 businesses on over 800 hectares of land, which the company already owns.

Econet InfraCo lists on VFEX at $1bn valuation in Zimbabwe’s largest-ever market debut

African Market 6 April 2026

Econet InfraCo, the infrastructure arm spun off from Zimbabwe’s telecoms group Econet Wireless Zimbabwe, has debuted on the Victoria Falls Stock Exchange (VFEX), marking the largest listing in the country’s capital markets history.

Admitted on March 27 and trading since March 31 under the ticker INFR.VX, the company enters the market with a $1 billion valuation, becoming the 16th listed equity on the US dollar-denominated exchange.

The new entity brings together the group’s core infrastructure assets, including telecom towers, renewable energy operations and real estate holdings. The transaction reflects a broader strategic shift to separate these assets into a standalone platform capable of generating stable, long-term income.

This model, increasingly adopted globally, allows infrastructure-focused businesses to attract dedicated investors while relying on predictable cash flows, primarily through lease agreements with the parent company and, potentially, third-party operators.

Zimbabwe’s Finance Minister, Mthuli Ncube, who attended the listing ceremony, described the move as a strong signal to international investors, highlighting both the scale of the transaction and the robustness of the country’s regulatory framework.

The listing also marks Econet’s exit from the Zimbabwe Stock Exchange (ZSE), where it had been listed since 1998. Shareholders approved the delisting after concluding that the local currency-based market no longer accurately reflected the group’s value.

Econet had been the largest and most liquid stock on the ZSE, accounting for roughly one-third of the exchange’s market capitalisation at the end of 2025, with an estimated value of around $628 million. Its departure is expected to significantly reduce both market capitalisation and trading activity on the ZSE.

Conversely, the transaction strengthens the strategic positioning of the VFEX as a hub for hard currency investments. For investors, Econet InfraCo offers exposure to an asset-backed business model supported by contracted cash flows from telecom infrastructure and energy solutions.

The company is also well positioned to benefit from Zimbabwe’s growing digital economy, driven by rising demand for data connectivity and distributed energy infrastructure, further reinforcing the VFEX’s role as a gateway for international capital.

Econet InfraCo Makes Historic Debut On Victoria Falls Stock Exchange With US$1 Billion Valuation

Broadcast Media Africa 1 April 2026

Econet InfraCo has made a significant market entry with a US$1 billion valuation, launching its trading debut today on the Victoria Falls Stock Exchange (VFEX). This event marks the largest initial listing in the history of Zimbabwe’s capital markets and is a pivotal moment for Strive Masiyiwa’s telecommunications venture.

The newly established infrastructure company, a spin-off of Econet Wireless Zimbabwe, will trade under the ticker INFR.VX, becoming the 16th listing on the dollar-indexed VFEX. Its introduction is perceived as a key transformation in Zimbabwe’s telecom sector and a crucial test of the country’s efforts to attract foreign investment.

During the listing ceremony, Zimbabwe’s finance minister, Mthuli Ncube, underscored the importance of this milestone. He remarked, “This demonstrates to the world that Zimbabwe is open for business and our regulatory frameworks are strong. A listing of this scale sends a clear signal to international investors about the depth and maturity of our capital markets.”

Not only does this listing stand out due to its size, but it also signifies a strategic shift for Econet. The company has separated its tower networks, renewable energy assets, and real estate holdings into a dedicated entity to unlock value and provide stable, long-term income streams.

This move is in line with a global trend in which telecommunications companies are creating distinct entities for their infrastructure assets to attract independent investment and expand beyond their parent firms.

The debut at the VFEX also signals a deliberate shift from the local currency-denominated Zimbabwe Stock Exchange. Econet has been a significant and liquid player on the exchange since its inception in 1998. By exiting the ZSE, VFEX removes a substantial portion of market capitalisation and liquidity, thereby enhancing its strategic relevance.

Econet InfraCo is entering the market as a stable, asset-backed investment, supported by long-term leases and consistent cash flows derived from telecommunications infrastructure and energy solutions.

The company is poised to play a vital role in advancing Zimbabwe’s digital economy, especially as demand for data, connectivity, and distributed energy sources continues to grow.

For investors, this listing presents an opportunity to gain exposure to one of Zimbabwe’s major private infrastructure platforms. For the wider economy, it symbolises the evolution of a capital market increasingly capable of facilitating billion-dollar listings.

As trading commences, attention will be focused on whether Econet InfraCo can effectively leverage its size and asset base to build lasting investor confidence, potentially setting the stage for more infrastructure-driven listings across Africa.

Econet InfraCo joins VFEX as 19th counter

The Herald/ The Chronicle 29 March 2026

ECONET InfraCo, the infrastructure subsidiary of Econet telecommunications company, was officially listed on the Victoria Falls Stock Exchange (VFEX) on Friday, becoming the 19th counter on the US dollar-denominated bourse in a ceremony presided over by Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube.

The listing, which took place at a local hotel in Victoria Falls, marks a significant milestone for Zimbabwe’s capital markets, adding a diversified infrastructure investment vehicle to the exchange’s growing portfolio.

Prof Ncube described the listing as a statement about where Zimbabwe is going, the maturity of capital markets, and the confidence that serious, long-term investors are placing in this nation’s infrastructure story.

He said the listing aligns with the National Development Strategy 2 (2026-2030) and the country’s Vision 2030 goals.

“Infrastructure, as a foundation for all economic activity, is central to this vision. The structure of Econet InfraCo as a dedicated infrastructure holding company aligns perfectly with this national priority,” said Prof Ncube.

“By ring-fencing assets such as telecommunication towers, power infrastructure, and property into a focused vehicle, we are adopting a globally recognised model that attracts specialised infrastructure capital.”

Prof Ncube also drew connections between the listing and the recently launched National Artificial Intelligence Strategy, saying digital ambitions require physical infrastructure.

“AI does not function in the abstract; it lives in hyper-scale data centres and travels on high-speed fibre-optic networks, requiring massive and reliable power supplies,” he said.

Victoria Falls Stock Exchange chairperson, Ms Florence Jambwa, highlighted the significance of the listing for the VFEX, which has grown from a handful of counters since its establishment in 2020 to now 19 listings within six years.

“The listing of Econet InfraCo is particularly significant because of its structure and the opportunities it unlocks for investors.

“By ring-fencing high-quality infrastructure assets into a dedicated investment vehicle, InfraCo provides investors with direct exposure to stable, long-term, income-generating assets,” she said.

Mrs Jambwa said the VFEX daily turnover now averages over US$350  000, with market capitalisation standing at US$2,8 billion, figures expected to grow significantly with the new listing.

The VFEX Direct platform now has over 7 800 active retail accounts.
Econet InfraCo board chairman Mr Godfrey Gomwe outlined the company’s three-pronged value proposition —

TowerCo providing stable cash flows, PowerCo driving margin expansion through energy optimisation, and PropertyCo unlocking value from strategic real assets.

“This is not a speculative growth story. We are not here raising capital to figure out a business model, nor are we building from scratch. Econet InfraCo is already a platform at scale,” said Mr Gomwe.

He announced that as part of the PropertyCo portfolio, the company is advancing the Victoria Falls Private Residences development, featuring luxury villas in the resort city.

“We offer our investors and our nation a very simple promise: Yield today. Growth tomorrow. Value over time,” he said.

Transaction advisors included TN Financial Services, Bethel Equities, Mtetwa and Nyambirai, Fincent Advisory, BDO Chartered Accountants, TN Cybertech Bank, and First Transfer Secretaries.

Econet InfraCo lists on VFEX

Business Times 27 March 2026

ECONET Wireless Zimbabwe has listed its infrastructure subsidiary, Econet InfraCo, on the Victoria Falls Stock Exchange (VFEX), bringing to a close a corporate restructuring that separates the group’s real estate and passive telecommunications assets into a standalone, publicly traded entity.
The milestone listing marks a strategic shift by the telecoms giant to unlock value from its infrastructure portfolio, while positioning InfraCo as a focused, asset-backed investment vehicle.
Following the distribution, Econet InfraCo’s shareholding structure will comprise 70% held by Econet and 30% by public shareholders, meeting the VFEX’s minimum free float requirements.
The newly listed entity will operate as an integrated real estate and infrastructure company, housing Econet’s property portfolio, passive telecommunications infrastructure, and renewable energy assets under one roof.
Speaking at the listing ceremony in Victoria Falls, Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, hailed the development as a strong signal of capital market evolution.
“We are excited on this momentous occasion as we celebrate the listing of Econet InfraCo on the Victoria Falls Stock Exchange,” said Professor Ncube.
“The listing of Econet InfraCo is a statement that our capital market is growing.”
Professor Ncube added that Zimbabwe’s macroeconomic framework remains on a stabilisation path despite global headwinds.
“Even with the Middle East conflict, we still feel that we will be able to maintain single-digit inflation right through the year. We are very happy with this achievement and want to protect it, ensuring it becomes the new normal going forward,” he said.
“In line with these objectives, Government remains resolute in its commitment to creating an enabling and stable macroeconomic environment, strengthening institutions, and investing in critical infrastructure to unlock private sector capital and drive growth.”
He further noted that the listing reflects increasing sophistication within Zimbabwe’s capital markets.
“This is a milestone that underscores the growing sophistication of our stock exchange. It demonstrates that our regulatory framework is robust, ensures investor protection and accountability, and is flexible enough to accommodate innovative and complex corporate structures.”
The VFEX’s US dollar-denominated trading platform, tailored for export-oriented and asset-backed businesses,was identified by the Econet board as the most suitable listing venue for InfraCo’s business model.
According to a shareholder circular, valuation metrics applied to Econet InfraCo’s projected earnings point to an enterprise value of approximately US$1 billion, translating to an implied share price of US$0.33.
The listing is expected to deepen VFEX liquidity, while offering investors direct exposure to Zimbabwe’s growing infrastructure and real estate sectors.

Econet shareholders approve ZSE exit, InfraCo restructuring

The Herald 27 February 2026

Minority shareholders of Econet Wireless Zimbabwe Limited (both institutional and retail) have voted overwhelmingly to approve the group’s voluntary delisting from the Zimbabwe Stock Exchange (ZSE), with all resolutions attracting over 95 percent support at an Extraordinary General Meeting held in Harare.

The special resolution to delist and migrate to an Over-the-Counter (OTC) trading platform was approved by 95 percent of minority votes, with the majority shareholder voluntarily electing to be recused from this vote.

Shareholders approved the Exit Offer at 96.6 percent, entitling investors to US$0.50 per share – comprising US$0.17 in cash and US$0.33 through the issuance of one Econet InfraCo ordinary share per Econet share tendered.

Two other resolutions relating to amendments to the Articles of Association and authority granted to directors to implement the transaction, each received 97, 3 percent approval.

Econet InfraCo base stations provide lifeline for rural clinics

The Herald 16 February 2026

Econet InfraCo, the infrastructure arm of Econet Wireless Zimbabwe, has been turning some of its remote base stations into solar power hubs for rural hospitals and clinics.

The initiative, launched last year, provides free electricity to health facilities located within five kilometres of the company’s base station.

For clinics that previously relied on erratic generators or had no power at all, the impact has been immediate and transformative. Vaccines remain safely stored, emergency procedures can continue without interruption, and mothers giving birth at night are no longer left in the dark.

At a small clinic in the Zvishavane District in the Midlands, nurses describe the difference as life-changing.

“Before, we had to limit treatments when the power went out,” said one. “Now we can run our fridges, lights, and medical equipment without worrying about blackouts.”

The programme, run in partnership with the Higher Life Foundation, has already connected several clinics, with plans to expand further.

By integrating electricity supply into its base station network, Econet InfraCo is leveraging existing infrastructure for a purpose that goes beyond connectivity, demonstrating how private sector innovation can compliment public service delivery.

Dr Douglas Mboweni, Group CEO of Econet Wireless Zimbabwe, said the initiative could serve as a model for other African countries facing similar rural healthcare challenges. “When infrastructure can serve communities in more ways than one, we are not just building towers; we are building lifelines,” he said.

Econet InfraCo is also exploring additional projects, including the construction of small footbridges to improve rural access.

“We can put up bridges to help women and children cross rivers safely while attending to base stations,” Dr Mboweni said.

“These bridges would improve access to schools, clinics and markets, particularly during the rainy season when flooded rivers often cut off communities from access to markets and service delivery centres.”

Unlike traditional corporate social responsibility programmes, Econet’s initiatives are embedded into annual budgets and operational structures, with full-time staff dedicated to social impact.

“Our commitment goes well beyond one-off donations,” Dr Mboweni said, citing the company’s work with education programmes in Zimbabwe and health and education support in Lesotho.

As rural clinics gain access to reliable electricity, patients and staff are experiencing firsthand how a private company’s infrastructure can deliver both connectivity and social impact at the same time.