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Econet InfraCo, the infrastructure spin-off from Zimbabwe’s largest telecoms operator Econet Wireless Zimbabwe, began trading on the Victoria Falls Stock Exchange (VFEX) with a $1 billion valuation. This marked the largest initial listing in the country’s capital markets history.
The company debuts under the ticker INFR.VX, becoming the 16th listing on the US dollar-denominated exchange. The infrastructure focused entity includes Econet’s tower portfolio, renewable energy assets, and real estate holdings.
Finance Minister Mthuli Ncube attended the listing ceremony. “This demonstrates to the world that Zimbabwe is open for business and our regulatory frameworks are strong,” he said.
“A listing of this scale sends a clear signal to international investors about the depth and maturity of our capital markets”.
The listing represents a structural shift for Strive Masiyiwa’s telecoms group. Econet has carved out its passive infrastructure assets into a standalone vehicle designed to generate predictable, long-term income streams through leases to its parent company and potentially third-party tenants.
The move aligns with a global industry trend. Telecom operators across Africa, Europe, and Asia have increasingly separated tower and energy assets into specialised infrastructure companies, attracting independent investment and enabling expansion beyond their original parent networks.
Econet had been listed on the local currency-denominated Zimbabwe Stock Exchange (ZSE) since 1998, where it was one of the largest and most liquid counters. Its exit removes significant capitalisation and trading volume from the ZSE while substantially elevating VFEX’s strategic position.
For investors, InfraCo offers exposure to an asset backed business with contracted cash flows from telecom infrastructure and energy solutions. The company is positioned to support Zimbabwe’s expanding digital economy, particularly as demand for data connectivity and distributed power generation rises.
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