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Southern Africa’s richest black man is now Strive Masiyiwa when surpassed Patrice Motsepe

In 2022, the Zimbabwean millionaire added $1.7 billion to his fortune. He dethroned South Africa's mining billionaire, who had held the position since 2008.

According to media estimates, Strive Masiyiwa has dethroned Patrice Motsepe as the richest black man in Southern Africa, with a net worth over $4.4 billion.
Masiyiwa’s new title comes as a result of a year-to-date surge in the stock prices of his telecom business, Econet Wireless Zimbabwe, and his smart-tech company, Cassava Smartech. According to Billionaires.Africa, Masyiwa’s net worth has climbed from $2.7 billion to $4.4 billion as of Wednesday.

Masiyiwa still behind Motsepe on Forbes’ list, but both men’s fortunes have risen dramatically since the start of the year, with Motsepe topping the list for the first time since 2008.

Masiyiwa, 61, recently announced his retirement as chairman and director of Econet Wireless Zimbabwe Limited, which he founded and floated on the Zimbabwe Stock Exchange in 1998. He still has a majority ownership in the firm.

In reaction to Masiyiwa’s declaration, Econet Wireless’ board of directors appointed Elizabeth Tanya Masiyiwa, one of Masiyiwa’s six children, to the business’s board of directors in order to help the company continue to expand as a going concern.

According to the board of directors, Elizabeth’s hiring will provide a lot of expertise, as she has led investment and fundraising initiatives as well as human capital development in many organizations.

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