Econet Wireless Zimbabwe has appointed former senior executive Fayaz King as the new 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 (VFEX).
King, who previously served as Econet’s Chief Operating Officer, returns to the company after several years at the United Nations Children’s Fund (UNICEF), where he has been working as an Assistant Secretary General. He officially takes up the new role on 1 March 2026.
The appointment comes as Econet InfraCo prepares for a major corporate milestone. The infrastructure business is expected to list on the VFEX at the end of March, subject to shareholder approval of Econet Wireless Zimbabwe’s migration from the Zimbabwe Stock Exchange (ZSE) to an over-the-counter trading platform on the VFEX.
In a shareholder circular released last week, Econet for the first time disclosed detailed financial information for InfraCo, which has until now operated as a division within the group. The company revealed that Econet InfraCo generates close to US$150 million in annual revenue and more than US$50 million in EBITDA.
Notably, InfraCo carries no debt, with all borrowings remaining on the parent company’s balance sheet. This clean balance sheet, combined with strong cash flows, is a major factor behind independent valuations that have placed the business at around US$1 billion.
Market analysts have also highlighted similarities between Econet InfraCo’s business model and that of a property or real estate company. Its core operations involve leasing telecommunications towers, power infrastructure, land, and buildings — creating stable, rental-style income streams.
Because most of its revenues are earned in US dollars, InfraCo is seen as a natural fit for the US dollar-denominated VFEX.
Sources also note that during Zimbabwe’s hyperinflationary period, Econet invested heavily in property and infrastructure assets as a hedge against currency instability. These assets now form a significant part of InfraCo’s portfolio.
The infrastructure company now controls a sizeable national portfolio of land and buildings, giving it the flexibility to further develop or dispose of properties as part of its growth strategy.
One of its flagship projects is a planned industrial park on a 300-hectare parcel of land near Robert Gabriel Mugabe International Airport in Harare — a development that could further strengthen InfraCo’s position as a key player in Zimbabwe’s infrastructure and property landscape.
