Strive Masiyiwa, Zimbabwe’s most prominent billionaire, is pivoting his investment strategy toward a massive physical manifestation of the digital age. The telecommunications mogul has launched an initiative to build Econet Tech City, a sprawling industrial center in Harare designed to attract global high-tech investment by removing the bureaucratic frictions that often deter international capital in Southern Africa.
The project represents a strategic shift toward creating a “city within a city,” aimed at fostering rapid industrialization through a self-sustaining ecosystem. By integrating critical infrastructure—from satellite connectivity to renewable energy—into a single managed hub, Masiyiwa intends to position Zimbabwe as a competitive alternative to established tech hubs in Nairobi, Kigali and Cape Town.
Central to this vision is the role of Econet InfraCo, a standalone infrastructure platform that consolidates the group’s telecommunications towers and strategic real estate. The entity was listed on the Victoria Falls Stock Exchange (VFEX) on March 31 by way of introduction, with a projected valuation of $1 billion. Listed under the ticker INFR.VX, the move allows the company to manage the tech city’s development and the daily operations of its future tenants.
A One-Stop Shop for High-Tech Industry
The tech city will be constructed on an 800-acre site located near Harare’s main airport. Masiyiwa has explicitly designed the hub to compete with larger regional projects, such as the 12,000-hectare Eko Atlantic hub in Lagos, Nigeria. The goal is to create an environment where the “hassles” of traditional industrial development are eliminated.
“Modern international investors don’t like hassles when they plan to build a factory or high-tech facility, like a Data Centre,” Masiyiwa said. He noted that investors prefer locations where essential services—including power, water, fiber and satellite connectivity, industrial waste management, security, street lighting, and staff transport—are readily available upon arrival.
By acting as a “one-stop shop,” Econet Tech City intends to shield companies from the burden of complex local planning approvals and licensing processes. Local experts will manage these administrative requirements, allowing firms to focus on operational deployment rather than regulatory navigation.
The Blueprint of a Self-Sustaining Hub
Unlike conventional industrial zones, Econet Tech City is envisioned as a self-sufficient ecosystem. Although the site will exclude residential housing and corporate offices, it will feature a shopping mall and a clinic to serve the workforce. Masiyiwa described the objective as creating a “spark for industrialization” that surpasses the outdated industrial areas established before Zimbabwe’s independence.
To attract the high-value tenants required for such a venture—specifically those operating AI factories or cryptocurrency infrastructure—the facility will implement rigorous security and operational standards. The planned security protocols include:
- Perimeter fortifications and continuous manned guarding.
- Comprehensive CCTV surveillance.
- Aerial drone monitoring for real-time site oversight.
Economic Projections and Government Synergy
The scale of the project is ambitious, with projections suggesting the hub will accommodate approximately 300 businesses. This influx of enterprise is expected to facilitate the creation of over 20,000 jobs, making it one of the most significant private-sector development initiatives in the country’s history.
However, the timeline for completion is contingent on more than just private capital. While Masiyiwa stated that Econet can complete the site within two years, he emphasized that government cooperation and specific business incentives are crucial. Zimbabwe is currently in direct competition with other African tech capitals—including Lagos, Cape Town, Nairobi, and Kigali—to attract the same pool of global investors.
| Feature | Detail | |
|---|---|---|
| Site Area | 800 acres | |
| Location | Near Harare International Airport | |
| Projected Jobs | 20,000+ | |
| Business Capacity | ~300 companies | |
| Est. Completion | 2 years (pending incentives) |
The Strategic Impact of Econet InfraCo
The financial architecture supporting this city is rooted in the creation of Econet InfraCo. By separating the infrastructure assets—such as telecommunications towers and renewable energy systems—from the core wireless business, Masiyiwa has created a specialized vehicle capable of scaling industrial real estate. This structure allows for more efficient capital management and provides a clear value proposition for investors on the US dollar-denominated VFEX.
This move is part of a broader regional strategy. Masiyiwa has previously signaled intentions to expand AI capabilities across the continent, and the Harare tech city serves as the primary anchor for these ambitions. By solving the “infrastructure gap” privately, Econet is betting that the speed of execution will outweigh the risks of the local macroeconomic environment.
Disclaimer: This article discusses financial valuations and stock exchange listings. This information is for reporting purposes and does not constitute investment advice.
The next critical milestone for the project will be the formalization of government incentives and the commencement of ground-breaking activities at the 800-acre site. Further updates regarding tenant acquisitions and the specific rollout of AI factory facilities are expected as the project moves from the planning phase to active construction.
We invite readers to share their thoughts on the potential for private-sector “tech cities” to drive industrialization in Africa in the comments below.
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