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Key Points
- Strive Masiyiwa urges African nations to build structured domestic venture funding, reducing reliance on foreign investors to support startups.
- Masiyiwa advocates for entrepreneurship to be a formal high school subject, ensuring students learn how to start businesses and raise capital.
- His company, Cassava Technologies, secured $310 million for expansion, reinforcing his push for homegrown investment in Africa’s digital economy.
Zimbabwe’s richest man and only billionaire, Strive Masiyiwa, is making a renewed push to reshape Africa’s business landscape. He’s calling for structured domestic venture capital and advocating for entrepreneurship to be a core subject in high schools.
Masiyiwa, the founder of Econet Global, argues that African startups shouldn’t have to rely on foreign investors to secure funding. He believes a stronger local investment ecosystem would create a more sustainable future for entrepreneurs across the continent.
Entrepreneurship in schools
In a recent LinkedIn post, Masiyiwa stressed the need for entrepreneurship to be treated like any other high school subject—structured, examined, and practical. He wants students to graduate with a clear understanding of how to start a business, raise capital, and pitch to investors.
“Our message on venture capital in Africa is getting through, but you must persist,” he wrote. “As part of formal education in our high schools, we need to introduce a course in entrepreneurship, which is examined in exactly the same way as other school subjects. Students leaving high school must know the formal process of starting a business, including the process to raise startup money and how to make a pitch to investors.”
Beyond education, Masiyiwa is also pushing for African stock exchanges to become real capital-raising platforms for high-growth businesses. He recently met with an African ambassador in London who sought further insight into his remarks at the World Economic Forum, where he emphasized the need for homegrown venture funding.
Backing Africa’s next tech giants
Masiyiwa’s latest push comes as his tech conglomerate, Cassava Technologies, undergoes financial and operational restructuring. In 2024, the company secured $310 million to refinance debt and fund expansion, backed by investors including the U.S. International Development Finance Corporation, Google, and Finnfund. The investment strengthens Cassava’s ambition to become a global technology leader rooted in Africa.
This follows previous backing from British International Investment, Public Investment Corporation, Royal Bafokeng Holdings, and Gateway Capital. Cassava has also expanded its reach through strategic partnerships, including a recent collaboration with Egypt’s eFinance to drive digital transformation across the continent.
Building Africa’s entrepreneurial future
Masiyiwa’s push for local venture capital aligns with his broader efforts to close Africa’s digital and financial gaps. Through Econet Zimbabwe—the country’s largest telecom provider—and his 30 percent stake in EcoCash Holdings, he remains a central figure in Africa’s tech and financial services sectors.
His message is clear: Africa needs an ecosystem where young entrepreneurs can access local funding, build scalable businesses, and drive economic transformation—without relying on foreign investors who often prioritize elite startups. By championing education and local investment, Masiyiwa is laying the foundation for the next generation of African business leaders.
