Econet Global has appointed banker Tony Worthington as managing director of Econet Capital, the company has announced.
The new business unit will review African TMT investments, and oversee value creation at group assets such as IPO candidate Liquid Telecom.
Worthington moves from Standard Chartered (LSE:STAN), where he has been global head of TMT.
The appointment comes as the company considers a London listing of Liquid Telecom, which Econet claims owns Africa’s largest terrestrial fibre network.
Econet founder Strive Masiyiwa told the Financial Times in a recent interview that the company wished to remain independent, having turned down “several multibillion dollar offers”.
An IPO would enable the company to raise “permanent, public capital to further expand its network…to meet the growing demand from mobile network operators,” Econet said while announcing Worthington’s appointment.
Liquid recently announced a pan-African fibre to the tower agreement with Airtel, as well as a fixed/mobile agreement with MTN across the two companies’ African markets.
Describing Worthington as “one of the most experienced TMT bankers in London”, Masiyiwa said: “I have worked closely with him for many years and I know his emerging markets and capital markets expertise will be invaluable to the executive team as we plan these key strategic initiatives.”