When the then Information Minister Jonathan Moyo incited the bombing of Strive Masiyiwa’s business in 2001, no one thought 24 years later the same person would be the one to accuse the Econet boss, now exiled, over investor arrogance.
Harare – 6 April 2025
By A Correspondent | Former Zimbabwean Information Minister Jonathan Moyo has ignited a fiery online clash with telecoms tycoon Strive Masiyiwa, criticising the Econet founder’s remarks on Africa’s investment environment, and accusing him of arrogance and hypocrisy.
In a strongly worded Twitter post, Moyo lambasted Masiyiwa’s declaration at the Global AI Summit on Africa in Kigali, Rwanda, where the billionaire businessman told African leaders that if an investment environment is not conducive, serious investors like himself would not complain — they would simply “walk away.”
“We won’t come back and tell you your investment environment doesn’t work. We just walk away,” said Masiyiwa, urging African governments to create supportive ecosystems for capital mobilisation and tech development.
Moyo, who as Mugabe’s Information Minister was accused of leading a crackdown on independent media — including reportedly orchestrating the 2001 bombing of The Daily News, where Masiyiwa was a key investor — hit back sharply.
“It was unnecessary and rather recklessly arrogant,” Moyo wrote, accusing Masiyiwa of ignoring the mutual nature of investment relationships. He added that Econet, the company that made Masiyiwa a billionaire, has “become notorious for predatory business practices” in Zimbabwe, offering “shoddy and overpriced telecoms” while showing “no listening culture whatsoever.”
Moyo went on to suggest that Zimbabwean consumers — whom he claims have been “ripped off” — might one day take a cue from Masiyiwa’s own rhetoric and “just walk away” from Econet.
But Moyo’s outburst was quickly challenged by others who highlighted Moyo’s past as a key architect of Zimbabwe’s oppressive media landscape.
“Is the issue about becoming a billionaire (which even criminals can), or about living in a conducive environment?” Chikanza tweeted. “@StriveMasiyiwa5 isn’t concerned about making billions, which scammers like ED have, but about being in a conducive environment where businesses thrive,” said one commentator.
Another critic said: “Out of interest @ProfJNMoyo why is the ecosystem not conducive for investment in Zimbawe? Why hasn’t it been conducive since early 2000? I think Strive was very honest there…”
The Twitter storm has reignited debate over Zimbabwe’s troubled investment climate, government accountability, and the historical role Moyo played in undermining press freedom and hounding entrepreneurs like Masiyiwa out of the country.
Observers note the irony of Moyo — once the face of draconian anti-business policy — now posturing as a defender of investor–state dialogue, especially given his past attacks on media and private enterprise.
With Zimbabwe’s economy still struggling to attract foreign direct investment, and tech giants like Nvidia bypassing Harare for more stable hubs like Nairobi and Kigali, Masiyiwa’s words seem to have struck a nerve — especially in those who once chased him away.