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Zimbabwean richest man Business tycoon and billionaire Strive Masiyiwa has shared lessons worth emulating on how he became the country’s richest.The London-based business mogul Masiyiwa is worth USD$1.2billion , according to Forbes’ 2023 estimates though he is believed to quadruple that when all his assets , money in bank and cash are considered.
TechnoMag got fresh details from Masiyiwa’s public Facebook page with over five million followers, which he uses primarily to mentor budding African entrepreneurs.
61 years old, Masiyiwa uses the platform to recount his past experiences and offers lessons on success in business and life.
As founder and chairman of the Econet Group, Zimbabwe’s undisputed largest Telcos and telecoms conglomerate, Masiyiwa has encouraged thousands through his posts.
Here is a compilation of five of some of the most inspiring personal experiences the spiritual christian billionaire shared over the years.
1 – Masiyiwa Says Invest in yourself
When working or running a business, you have to set aside time and money to invest in your formal education and skills acquisition, the self made billionaire.
Masiyiwa narrates how many years ago while working as an engineer at then Zimbabwe’s largest telecoms company PTC (Postal and Telecommunications Company), he was left out of a training mission to Japan.
Masiyiwa was disappointed to miss the opportunity that would have eventually given him a chance at a promotion and, perhaps, a chance to earn more money.
Instead of wallowing in self-pity, he decided to set aside 15 per cent to 20 per cent of his salary to invest in his own training.
The Telecommunications mogul said he learnt then that he couldn’t leave his destiny in the hands of someone else.
Masiyiwa took the money he set aside, which accordingly wasn’t much, bought books, magazines and attended courses.
The then aspiring billionaire even subscribed to get international newspapers delivered to his doorstep (the days before the Internet allowed for digital subscriptions).
This process, many years later, developed his interest in an industry that was emerging at the time – mobile phones.
“It doesn’t matter how progressive your employer is, you have to invest constantly and continually in yourself and your family. You must do this whether you’re struggling or you are doing very well. You must do this whether you are starting out or you believe you have reached the top,” Masiyiwa advises.
2 – Billionaire Masiyiwa Advises To Learn the rules of the game
The engineer by training said every game has its rules and language. Every game, whether it’s football or tennis or golf, has rules that you must master if you’re to play it well.
Engineer Masiyiwa said There’s also a language, from terms like ‘hat tricks’ to ‘aces’ and ‘birdies’, that you must learn if you’re to be accepted by the players of that game.
Masiyiwa said how you play and how you talk to other players differentiates the beginner from the rest. And this holds true when it comes to the ‘money game’. Strive notes that the easiest way to join a club is to be invited by one of the established members.
The Telecommunications billionaire said before you shout about this being unfair and demand that the rules be changed, don’t forget that only the club members and players are allowed to change the rules.
He noted similarly, when it comes to making money, you need to know what to do to secure support. That’s how China joined the club.
Econet’s founder in the money game, there’s a way of talking that gets bankers and investors interested in what you want to do – conversely, there’s a way you can talk that makes them shun you.
Strive added that it has nothing to do with where you come from.
“That’s how I joined the club 25 years ago, and by writing my Facebook posts, I’m throwing an open invitation to the young entrepreneurs of Africa. Each post contains the rules and the language of this game, and it’s up to you to learn them, and then go out and play.”
3 – Strive said Attitude determines altitude
Masiyiwa reminisced back in 2013, Blackberry, once dubbed Crackberry, was put up for sale after years of struggling in a smartphone market it used to dominate. This, Strive said, wasn’t surprising to him at all.
Masiyiwa added that When the company was starting to gain traction, he’d sent some of his senior executives to negotiate an agreement for some of Econet’s markets in Africa.
They met arrogant attitudes which were both shocking and appalling.
Many vSeveral months later, Strive came across a report on Google’s plans to launch Android and told his executives to “forget Blackberry and focus on preparing for Android. That is where the future lies.”
Many of his executives were distressed by this decision because Blackberry was in an unassailable market position at the
will come crashing down. If you are still trying to take off, a bad attitude will keep you on the ground, revving your engines but going nowhere,” Masiyiwa writes on his Facebook account.
“No matter how big or successful you are, if your customers have to literally beg you to do business with them, then there is a serious problem.”
4 – Masiyiwa said Go beyond trading goods to selling a skill
The mogul went on to say Entrepreneurship without skills limits your growth potential.
Strive believes the next generation of African entrepreneurs should be ‘enterprise builders’, which can only happen if they focus on businesses that are skills-based.
Masiyiwa gave an example of his mother, like many others, who was a trader because she didn’t have the opportunity to be an electrician, builder or mechanic.
Masiyiwa added that’s not the case these days. Young entrepreneurs, he said, have fewer excuses about why they’re not building enterprises that outlive them.
“When you go into business, arm yourself with a skill so that you are not just trading goods,” says Strive.
The billionaire also urged young people across Africa not to neglect basic trades, such as plumbing, carpentry and farming, in pursuit of fancier job titles.
“These things may not look all that glamorous, but let me tell you, today you can be a billionaire in Africa if you are a good plumber and know how to build an enterprise,” he advised.
“Don’t neglect these classical trades. A school certificate is not what feeds a family, it is when you use that certificate to get yourself a trade certificate – such as carpentry or motor mechanics or computing – that you learn to feed a family and grow your nation.”
5 – Masiyiwa further advised to always look out for the opportunity
You need to teach yourself to see the business side to everything; that’s what being business-minded is all about, said Strive.
Immediately after the app was launched, the owner of a Uber taxi once proudly told Masiyiwa how he was making a lot of money through the taxi-hailing service.
The transport app, Uber got him the customers, did the billing and also took a commission, and all the driver had or has to do is turn up, he said. The man added: “Uber has no assets, just some computer servers.”
Masiyiwa was intrigued and engaged the driver in a conversation about how the app works and what he liked about Uber’s business model.
Uber’s driver finally asked if he was planning to set up a similar business in Africa.
“Not really,” Strive said, “I’m just business minded. I make it my business to see the business side of any business.”
Strive said the platform that drives something like Uber is just a tool.
An imagination sitting with your friends and redesigning the platform so that it provides public transport in Africa; something that could assist with the long queues or help rural people get access to their homes or markets.
Masiyiwa said bring business-minded, allowed you to see these kinds of possibilities, and that’s how billion-dollar companies are built.
Masiyiwa further gave the example of Manchester United, which is listed on the New York Stock Exchange, and how it hit a record year in terms of earnings, despite having one of its worst seasons.
The mogul said most people study soccer strategies and team plays rather than the “business of business”.
Masiyiwa quizzed if you are a ManU supporter, do you know the name of the CEO, the guy who runs the business? (Tip: it’s not the current coach Eric Ten Hag) We’re talking about his boss.)
Masiyiwa encouraged to Train yourself to be business-minded, and who knows, maybe one day you’ll do more than just support a team passionately.
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