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*Motsepe Now Richest Black Person In Southern Africa As Masiyiwa Loses Over Half A Billion USDs* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?im South African billionaire Patrice Motsepe has surpassed Zimbabwean billionaire, Strive Masiyiwa to become the richest Black businessman in Southern Africa, with a net worth of US$3.1 billion, while Masiyiwa’s net worth fell to US$2.7 billion. The development comes after Masiyiwa has lost over half a billion dollars as a result of a drop in the value of his stake in Econet Wireless Zimbabwe (Econet Zimbabwe) on the Zimbabwe Stock Exchange (ZSE) in less than a month. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- This is happening not long after Masiyiwa’s net worth rose by US$1.7-billion above the US$4-billion mark earlier this year. Billionaires Africa reports that the market value of Masiyiwa’s stake in Econet Zimbabwe dropped by $201 billion (US$624.2 million) in the past 28 days due to a sustained sell-off of shares on the Zimbabwe Stock Exchange (ZSE). Masiyiwa owns a 52.85-per cent equity position in Econet Zimbabwe, which is part of Econet Group, a 22-year-old diversified telecom company with operations and investments in Africa, Europe, South America, and East Asia. The trend: > a). Econet’s share price reached an all-time high of $331.72 (US$1.03) on April 27, > b). the share price began to drop by more than 44 per cent to $184.88 (US$0.57415). > c). The market value of Masiyiwa’s shareholding fell from $454.1 billion (US$1.41 billion) on April 27 to $253.1 million (US$785.9 million). As a result, the leading billionaire has lost $201 billion (US$624.2 million) in the past 28 days. Despite the recent drop in the value of its shares, Econet Zimbabwe remains the most valuable stock on the ZSE, with a market capitalization of $479 billion (US$1.48 billion), accounting for about 16.1 per cent of the total capitalization on the bourse. *More: Pindula News is best enjoyed via the App. Download it here* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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