Masiyiwa unveils vision for US$1bn Econet Tech City Industrial hub

Econet founder and group chairman Strive Masiyiwa says he was inspired by industrial developments in Africa and Asia to spearhead a new high-tech industrial hub in Harare, dubbed Econet Tech City, designed to attract global investors and accelerate Zimbabwe's industrialisation drive.

The project is being developed under Econet InfraCo, a recently listed infrastructure platform on the Victoria Falls Stock Exchange with an estimated valuation of around US$1 billion.

Masiyiwa said the concept was influenced by large-scale developments such as the Eko Atlantic project in Lagos, Nigeria, where his data centre division already operates a major facility.

"Modern international investors don't like hassles when they plan to build a factory or high tech facility, like a Data Centre," he said. "They prefer locations where everything they need is readily available."

He said such industrial hubs are typically designed as "one-stop shops" providing power, water, fibre connectivity, security, logistics, and even legal support services under unified management structures.

Econet InfraCo owns an 800-acre site near Robert Gabriel Mugabe International Airport in Harare, which will be transformed into a self-contained industrial zone, pending government approvals. The project is expected to host up to 300 companies and generate more than 20,000 jobs once fully operational.

Masiyiwa said the Tech City model will include advanced infrastructure such as a 100MW solar power plant, industrial waste management systems, and high-security perimeter controls incorporating CCTV and drone surveillance.

"The goal is to build a self-sufficient ‘city within a city'," he said, adding that the development would include amenities such as a shopping centre and clinic, but would exclude residential housing.

Architectural and engineering designs are already underway, with initial solar components expected to be sourced from China. Econet already operates a 5MW data centre in Willowvale and plans to expand with a 10MW facility within the Tech City precinct.

Masiyiwa said the project could be completed within two years from Econet's side, but stressed that government incentives and regulatory support would be critical to attracting investors.

"Zimbabwe is competing with cities like Lagos, Cape Town, Nairobi and Kigali," he said. "This could be a great partnership if it is supported."

He added that discussions with government officials are ongoing and that international interest has already begun to build since the project was unveiled.

Once approvals are finalised, Econet InfraCo plans to begin phased development and actively market the hub to global and regional investors.

Masiyiwa also emphasised that the initiative is not intended to be exclusive, noting that similar industrial developments should be encouraged across Zimbabwe and the continent to accelerate broader economic transformation.