HARARE — Econet Wireless Zimbabwe has appointed former chief operating officer Fayaz King as chief executive of its newly created infrastructure subsidiary, Econet InfraCo, as the telecoms group accelerates a restructuring designed to unlock value from its network assets.
King, who previously held senior leadership roles within Econet before departing in 2019, is set to assume the position on 1 March 2026. He returns to the company after serving as Assistant Secretary-General at the United Nations Children’s Fund (UNICEF), where he focused on private-sector partnerships and global resource mobilisation.
The appointment comes as Econet prepares to list Econet InfraCo on the Victoria Falls Stock Exchange (VFEX) at the end of March, subject to shareholder approval. The listing is linked to Econet’s proposed migration from the Zimbabwe Stock Exchange (ZSE) to an over-the-counter trading platform managed by the VFEX.
Strategic Separation of Infrastructure Assets
Econet InfraCo will house the group’s infrastructure portfolio, including telecom towers, fibre networks and related passive assets. The separation reflects a broader industry trend in which operators carve out infrastructure units to attract specialised investors, improve capital efficiency and reduce balance sheet pressures.
Analysts say such structures allow telecoms groups to monetise capital-intensive assets while retaining long-term service agreements, a model that has gained traction across African markets.
“InfraCo vehicles typically appeal to infrastructure-focused funds seeking stable, annuity-style returns,” said a Harare-based investment analyst. “For Econet, this could broaden the investor base while potentially lowering the cost of capital.”
VFEX as a Funding Platform
The choice of the VFEX underscores the exchange’s growing role as a US dollar-denominated capital-raising platform. Established to attract foreign investment and mitigate currency risks, the VFEX has positioned itself as an alternative venue for companies seeking hard-currency funding.
Market participants view Econet InfraCo’s anticipated listing as a significant test case for the exchange, given Econet’s status as Zimbabwe’s largest telecoms operator and one of the country’s most widely held equities.
“The success of this transaction will be closely watched,” said a regional portfolio manager. “It signals how domestic corporates are adapting to investor preferences around currency stability and asset-backed investment stories.”
Leadership with Global Experience
King’s return is seen as strategically important as Econet navigates both operational and investor-facing demands associated with the new entity. His experience in international development finance and partnerships may prove valuable in engaging global capital providers.
Econet said the appointment aligns with its ambition to build a standalone infrastructure business capable of supporting not only its own network needs but also potential third-party clients, including other telecoms operators and digital service providers.
Value Unlocking and Market Implications
The restructuring highlights a growing emphasis among Zimbabwean corporates on value-unlocking initiatives amid challenging macroeconomic conditions. By isolating infrastructure assets, Econet may provide investors with clearer visibility into revenue streams typically characterised by long-term contracts and predictable cash flows.
Telecom infrastructure businesses have attracted strong investor interest globally, often commanding valuation multiples distinct from traditional mobile service operators.
For Zimbabwe’s capital markets, the development reinforces the VFEX’s role in
