Econet Moves to Exit the Zimbabwe Stock Exchange

Econet Wireless has begun formal discussions with the Zimbabwe Stock Exchange on issuing a shareholder circular outlining plans to voluntarily delist from the bourse. The move follows internal steps taken two weeks ago and would bring an end to the telecom operator’s long-standing public listing in Zimbabwe.

The company says the decision is driven by years of persistent undervaluation on the ZSE. Econet argues that its shares have traded at a stubborn discount compared to regional telecom peers, despite similar operational scale. Many of those peers now trade at significantly higher multiples after restructuring their businesses.

Econet, which is controlled by billionaire entrepreneur Strive Masiyiwa, says the delisting is part of a broader restructuring designed to unlock shareholder value.

Infrastructure Spin-Off at the Centre of the Strategy

Rather than selling its infrastructure assets outright, Econet plans to separate them into a new entity called Econet Infrastructure Company Limited. The proposed company would hold towers, power assets, and real estate and is expected to be listed on the Victoria Falls Stock Exchange.

Econet would retain a 70 per cent controlling stake in the infrastructure company while continuing to operate its core telecom services. The company disclosed that discussions around this structure are already underway.

Across Africa, infrastructure separation has become a proven value-unlocking strategy. Telecom groups such as MTN, Airtel, Vodacom, and Orange have either sold or carved out tower assets, attracting long-term capital and improving focus on their core businesses. Econet’s move aligns it with that playbook, but on its own terms.

What It Means for Shareholders

The delisting process is expected to be gradual. Econet plans to offer shareholders a voluntary exit option before the move, allowing investors to sell their holdings or receive part-payment in shares of the new infrastructure company.

A shareholder vote is scheduled for January 2026. If approved, one of Zimbabwe’s most recognisable listed companies will begin its next chapter off the ZSE.

Ghana Legalises and Regulates Cryptocurrency Trading

Ghana has formally legalised and regulated cryptocurrency activity after Parliament passed the Virtual Asset Service Providers Bill into law. The legislation gives the Bank of Ghana authority to license, supervise, and regulate cryptocurrency businesses operating in the country.

The announcement was made by central bank governor Johnson Asiama during the Bank of Ghana’s annual Nine Lessons, Carols and Thanksgiving Service.

The law removes years of legal uncertainty around crypto in Ghana. Individuals can now trade digital assets legally, while businesses gain regulatory clarity under a formal oversight framework.

Bank of Ghana Takes the Lead

Under the new regime, the Bank of Ghana will approve and monitor virtual asset service providers, with a focus on consumer protection, anti-money laundering, and financial stability. Asiama said the goal is not to suppress innovation but to manage risks while encouraging responsible use of digital financial products.

The move follows years of signalling from the central bank. Ghana had previously indicated it was targeting crypto regulation by the end of 2025, and the passage of the bill delivers on that commitment.

Ghana now joins a small but growing group of African countries choosing structured regulation over outright bans.

Timing Aligns With Adoption Trends

Ghana consistently ranks among the leading crypto markets in sub-Saharan Africa, driven by strong peer-to-peer trading and high youth participation. As countries like Nigeria, Kenya, and South Africa continue to debate or refine their approaches, Ghana is positioning itself as a regulated crypto hub that is open to innovation but no longer operating in a grey zone.

Microsoft May Cut 5–10 Percent of Workforce in Early 2026

Microsoft is reportedly preparing for another major round of job cuts, with internal chatter and anonymous posts suggesting layoffs could be announced in January 2026. Estimates indicate that between 5 per cent and 10 per cent of the company’s workforce could be affected.

If confirmed, that would translate to roughly 11,000 to 22,000 roles globally, based on Microsoft’s mid-2025 headcount of about 228,000 employees. The company has not issued any official statement.

Teams Likely to Be Affected

Sources suggest that gaming, Azure cloud, and global sales teams may be among the hardest hit. The reported cuts are said to be part of a broader effort to flatten management layers and increase the ratio of individual contributors to managers.

Microsoft has already reduced staff significantly over the past year, cutting nearly 15,000 roles across multiple layoffs tied to cost realignment and shifting strategic priorities.

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AI Spending Shapes the Bigger Picture

The potential layoffs come as Microsoft dramatically ramps up spending on artificial intelligence. Capital expenditure is expected to exceed $80 billion in 2026, with much of that going into data centres, chips, and AI infrastructure.

Analysts say the scale of that investment may be forcing the company to tighten costs elsewhere, even as revenue and profits remain strong.

This would not be Microsoft’s first major workforce reduction. In 2025, it cut around 6,000 jobs during a reorganisation, with previous rounds also affecting Xbox and other units.

A Signal for the Tech Sector

Across the wider tech industry, layoffs have become a recurring theme as companies reshape themselves around AI. Firms like Meta, Amazon, and Intel have already eliminated tens of thousands of roles.

If Microsoft confirms the reported January cuts, it could mark the first major wave of tech layoffs in 2026, reinforcing a clear message across Big Tech: double down on AI, even if it means shrinking legacy structures.