MasCom wireless was founded in Botswana, 1998 by Strive Masiyiwa, Zimbabwe’s richest man. MasCom, which is a short form for Masiyiwa Telecom was founded before the billionaire secured a license to run Econet in Zimbabwe. Mascom Wireless controls over 50% of Botswana’s telecom market with over 1.7 million subscribers, in a country with a population of 2.3 million.
The Billionaire however decided to sell 14% of his stake in MasCom 2004 and by 2005 he sold off another 44% to MTN Group at the cost of $70 Million. With 40% owned by the Botswana Public officers’ Pension Funds, he kept Econet Group as a minority investor with 7% of shares.
As of March 2019, the Econet Group of Strive Masiyiwa announced that it will be acquiring 53% stake in MasCom Wireless for an estimated price of $300 million. He is however set to list the Botswana Telecom company at the stock market for as low as $10 per share.
He said he wants to sell shares to thousands of ordinary people in Botswana. According to him, he has been unable to fulfill this promise because his company didn’t have control of enough shares to do so but now, he can keep his promise