At a Glance
- Mike Adenuga built Globacom into a 60-million-subscriber force and invested in a $1.5 billion undersea cable, boosting West Africa’s digital infrastructure and per-second billing adoption.
- Naguib Sawiris expanded Orascom Telecom into frontier markets and sold it for $6.6 billion, marking one of Africa’s biggest telecom exits and fueling regional digital inclusion.
- Strive Masiyiwa’s Econet and Cassava own Africa’s largest independent fiber network, powering digital, cloud, and fintech infrastructure in over 20 countries.
Africa’s telecom boom is most notably impacted by telecom tycoons who have turned bold ventures into engines of connectivity, transforming lives and economies across the continent. Leading the pack is Mike Adenuga, Nigeria’s second-richest man with a networth of $6.1 billion, built Globacom into a 60-million-subscriber giant, pioneering per-second billing and launching the $1.5 billion Glo-1 submarine cable to expand West Africa’s digital access.
Naguib Sawiris of Egypt with $5 billion fortunes grew Orascom Telecom into a continental juggernaut, breaking ground in frontier markets from Algeria to North Korea. His $6.6 billion sale to VimpelCom in 2011 marked a turning point in Africa’s telecom evolution.
In South Africa, Koos Bekker ($3.5 billion) helped shape MTN and founded M-Net, which evolved into MultiChoice, while his early $32 million bet on Tencent turned Naspers into a global tech powerhouse.
Strive Masiyiwa, Zimbabwe’s first billionaire, founded Econet Global and Cassava Technologies, which now owns Africa’s largest independent fiber network. His companies underpin the continent’s digital and fintech infrastructure.
Lastly, Mo Ibrahim ($1.3 billion) built Celtel into a $3.4 billion pan-African carrier before selling to Zain. Through his foundation, he champions leadership and accountability, cementing his impact beyond telecom.
Shore.Africa spotlights Africa’s five richest telecom tycoons and the groundbreaking telecommunications empires they built.
- Mike Adenuga
Country: Nigeria
Net worth: $6.1 billion
Telecom founded: Globacom
Mike Adenuga, founder and chairman of Globacom, leads Nigeria’s second-largest telecom operator with over 60 million subscribers. Globacom pioneered per-second billing and built the $1.5 billion Glo-1 submarine cable, linking West Africa to Europe and enhancing digital connectivity across the region. Beyond telecom, Adenuga holds significant interests in oil via Conoil, real estate, and banking, cementing his status as one of Africa’s most influential tycoons. - Naguib Sawiris
Country: Egypt
Net Worth: $5 billion
Telecom founded: Orascom Telecom sold to VimpelCom
Naguib Sawiris, founder of Orascom Telecom, played a transformative role in expanding mobile connectivity across Africa, the Middle East, and parts of Asia. Under his leadership, Orascom became the first telecom operator in markets like Algeria, Iraq, and North Korea, driving digital access and economic inclusion in underserved regions. In 2011, he sold the firm to Russia’s VimpelCom in a $6.6 billion deal, creating one of the world’s largest telecom carriers. Beyond telecom, Sawiris is active in gold mining through La Mancha and luxury real estate via Ora Developers. - Koos Bekker
Country: South Africa
Net worth: $3.5 billion
Telecom founded:M-Net/MultiChoice (now a pay-television service) and MTN (now a major mobile network operator in Africa)
Koos Bekker, chairman of Prosus and former CEO of Naspers, is credited with transforming Naspers into a global internet and media powerhouse. He led the company’s $32 million early bet on Tencent, now one of the most profitable tech investments in history. The move catapulted Naspers into Africa’s most valuable firm and birthed Prosus, one of Europe’s largest internet companies. Bekker also helped pioneer Africa’s pay-TV market through M-Net, which grew into MultiChoice, and played a strategic role in shaping MTN, Africa’s telecom giant. - Strive Masiyiwa
Country: Zimbabwe
Net worth: $1.2 billion
Telecom founded: Econet Global and Cassava Technologies
Strive Masiyiwa, founder and executive chairman of Econet Global and Cassava Technologies, is one of Africa’s most influential telecom pioneers. His company, Econet Wireless, broke Zimbabwe’s state telecom monopoly in 1998 and has since expanded across more than 20 countries, building a pan-African telecom and digital infrastructure empire. Cassava Technologies, a spinout of Econet, now owns Africa’s largest independent fiber broadband network, spanning over 100,000 kilometers and powering connectivity and fintech growth across the continent. Through both companies, Masiyiwa is shaping Africa’s digital future—from mobile networks to cloud services. - Mo Ibrahim
Country: Sudan/United Kingdom
Net worth: $1.3 billion
Telecom founded: Celtel sold to Zain in 2005
Mo Ibrahim, founder of Celtel International, revolutionized telecommunications across Africa and the Middle East. Celtel, one of the continent’s first mobile phone companies, expanded into over a dozen countries, bringing mobile connectivity to millions. Ibrahim’s $3.4 billion sale of Celtel in 2005 to Zain Group marked a defining moment in Africa’s telecom history, laying the groundwork for the region’s mobile-driven economic growth. Today, Ibrahim is a leading advocate for governance and leadership reforms through his Mo Ibrahim Foundation.
