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.