The essentials economy: Lessons from Zimbabwe's billion-dollar companies
Africa’s billion-dollar club just got bigger.
Last week, Econet Wireless Zimbabwe released audited results for the 12-month period ending February 2026.
For the first time in the company's history, it reported over $1 billion in annual revenue.
The company, founded by billionaire entrepreneur Strive Masiyiwa, is the country's dominant telecoms & mobile financial services group, with a ~74% share of Zimbabwe's mobile subscribers.
At least 365 companies operating in Africa today generate $1 billion or more in annual revenue.
Zimbabwe, a country that’s still synonymous with economic collapse and hyperinflation in international media, is now home to 3 of them: Econet Wireless, Delta Corporation, and Innscor Africa.
The makeup of a country’s largest companies says something about the nature of its economy.
In Nigeria, oil companies and banks like Sahara Group, NNPC, and Access Holdings dominate the list of companies generating over $1 billion annually.
In South Africa, mining companies and financial institutions — like Gold Fields, Valterra Platinum, Standard Bank, and FirstRand — lead the way.
In Zimbabwe, the path to a billion looks different.
No oil. No mines. No traditional banks. Just food, drink, connectivity, and mobile money.
