At a Glance
- Mike Adenuga built Globacom into a 60-million-subscriber base and invested in a $1.5 billion undersea cable, boosting West Africa’s digital infrastructure.
- Naguib Sawiris expanded Orascom Telecom into frontier markets and sold it for $6.6 billion, marking one of Africa’s biggest telecom exits.
- 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 net worth of $6.2 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 $5.1 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.
Also, 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 ten richest telecom tycoons and the groundbreaking telecommunications empires they built.
- Mike Adenuga
Country: Nigeria
Net worth: $6.2 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: $5.1 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. - Alieu Conteh
Country: Gambia
Telecom founded: Vodacom Congo
Alieu Conteh, founder and chairman of Vodacom Congo, revolutionized the telecommunications sector in the Democratic Republic of Congo. Starting with Congo’s first mobile network, Congolese Wireless Network (CWN), in 1999, he later sold a 51 percent stake to Vodacom South Africa, rebranding the company as Vodacom Congo. Today, with over 13 million subscribers, the company remains a leader in the DRC’s telecom market. Conteh’s innovative spirit helped expand connectivity in a region with limited infrastructure, laying the foundation for Congo’s growing digital economy. - Yerim Sow
Country: Senegal
Telecom founded: Teylium Telecom
Yerim Sow, a Senegalese entrepreneur and founder of Teylium Telecom, played a pivotal role in shaping West Africa’s telecom landscape. Through his company, Sow launched operations in several countries, including Côte d’Ivoire, where Teylium established itself as a serious competitor. In 2006, he sold a majority stake in his mobile business to MTN Group, resulting in the creation of MTN Côte d’Ivoire. Sow’s foresight and business acumen helped bring mobile connectivity to underserved populations across Francophone Africa, making him a key figure in the region’s digital transformation. - Hassanein Hiridjee
Country: Madagascar
Telecom Founded: Telma Group
Hassanein Hiridjee, CEO of Axian Group, has been instrumental in transforming Madagascar’s telecom sector through Telma Group. Under his leadership, Telma became the first operator to launch 4G+ and 5G services in the country, significantly improving digital connectivity. Beyond Madagascar, Hiridjee expanded Axian’s telecom footprint into several African countries, including Tanzania, Togo, and Senegal. His commitment to innovation and inclusion has helped bridge the digital divide, positioning Telma as a driver of economic growth and technological progress in underserved regions. - Ahmed Mohamed Yusuf
Country: Somalia
Telecom founded: Hormuud Telecom
Ahmed Mohamed Yusuf, a Somali telecom tycoon, is the co-founder and major shareholder of Hormuud Telecom, Somalia’s largest telecommunications provider. Established to bridge the communication gap in a country rebuilding from decades of conflict, Hormuud now serves over 3 million active users across Somalia. The company offers a range of services including mobile, fixed-line, internet, and satellite communications. Yusuf’s leadership has been pivotal in advancing digital access in one of Africa’s most challenging markets, positioning Hormuud as a critical driver of economic activity and financial inclusion in the region. - Rostam Aziz
Country: Tanzania
Telecom founded: Vodacom Tanzania
Rostam Aziz, a prominent Tanzanian businessman and former politician, played a pivotal role in shaping Tanzania’s telecommunications landscape. As the founding investor in Vodacom Tanzania, he helped bring mobile connectivity to millions across the country. Under his influence, Vodacom grew into the largest telecom operator in Tanzania, serving over 15 million subscribers. Aziz later sold his stake in the company but remains an influential figure in the region’s business and investment community. His early bet on mobile infrastructure helped catalyze Tanzania’s digital transformation and set the stage for broader economic inclusion.
