ECONET Group founder Strive Masiyiwa says he is considering a separate listing next year for subsidiary Liquid Telecom which currently is probably the largest operator of fibre and business satellite services on the African continent.
Masiyiwa, who is the Econet Group Executive Chairman said the company had decided to go for a listing of Liquid after spurning several multi-billion dollar offers for its subsidiary.
“We have received several unsolicited offers for Liquid, but we want it to remain an independent access provider for Internet in Africa,” he said.
“We are going to raise more capital strengthen its market leadership in this vital space.”
He revealed that the Econet Group had already appointed advisors for the potential listing of Liquid at one of the major European exchanges.
“We are looking at one of the European exchanges and we will finalise that early in the new year.”
Liquid Telecom has been growing rapidly over the last few years, fuelled by the demand for infrastructure to support broadband internet on the African continent.
The company, which has so far built a fibre optic network that spans 15 African countries from South Africa all the way to the border of South Sudan in East Africa, now wants to move into West Africa.
Said Masiyiwa: “Although Liquid has a presence in satellite and payment systems in West Africa, the terrestrial fibre side is missing, and we want to correct that, as our customers must have a seamless service from East to West, North to South.