Key Factors
- Attempt Masiyiwa’s fortune has plunged by $600 million in 2024, pushed by Zimbabwe’s forex overhaul and market instability.
- Regardless of losses, Masiyiwa is investing $720 million in Africa’s first AI manufacturing unit, backed by NVIDIA’s cutting-edge expertise.
- The AI facility, beginning in South Africa by June 2025, will provide AI computing energy throughout 5 African international locations through Cassava’s fiber community.
Zimbabwe’s richest man, Attempt Masiyiwa, has taken one other hit to his fortune, shedding $600 million for the reason that begin of the 12 months. His internet value has fallen to $1.2 billion, down from $1.8 billion in January, a part of a gentle slide since 2022, when his fortune peaked at $3 billion.
Masiyiwa faces headwinds amid forex shift
The decline, tracked by Forbes, is tied to financial shifts again residence. Masiyiwa’s companies in Zimbabwe have been below strain for the reason that authorities scrapped the native forex in favor of a brand new gold-backed unit known as the ZiG. Rolled out in Might, the transfer was meant to deal with hyperinflation, however it has unsettled markets and created challenges for native corporations.
A few of Masiyiwa’s greatest holdings have taken a success. He owns 38 p.c of Econet Wi-fi Zimbabwe and 33 p.c of EcoCash Holdings Zimbabwe—two main gamers within the nation’s telecom and fintech area. He additionally has vital pursuits in Liquid Clever Applied sciences, a privately held firm offering cloud and fiber companies to telecom operators throughout Africa.
Regardless of the monetary setbacks—his wealth having dropped from a excessive of $3 billion in 2022—Masiyiwa hasn’t slowed down. As an alternative, he’s doubling down on the imaginative and prescient to drive Africa’s digital transformation. His firm, Cassava Applied sciences, recently unveiled plans to build Africa’s first AI factory, a transfer that may very well be a game-changer for the continent’s tech panorama.
Attempt Masiyiwa’s AI push backed by NVIDIA
The $720 million project might be powered by NVIDIA’s top-tier AI expertise and is anticipated to offer companies, governments, and researchers throughout Africa entry to high-performance AI computing—all whereas protecting delicate knowledge on the continent. It’s a daring step meant to offer Africa a stronger foothold within the world AI race.
The ability will combine NVIDIA’s superior computing and AI software program utilizing its Cloud Companion (NCP) reference structure. The primary part of the rollout is about to start in South Africa by June 2025, with further websites deliberate for Egypt, Kenya, Morocco, and Nigeria. Cassava will use its huge fiber-optic community throughout the continent to ship AI as a Service (AIaaS), serving to organizations prepare and deploy AI fashions rapidly and effectively.
Cassava Applied sciences has already constructed an ecosystem of digital-first companies—Liquid Clever Applied sciences, Africa Knowledge Centres, Liquid C2, Cassava.ai, and Sasai Fintech—all targeted on making a extra linked Africa. With the addition of NVIDIA GPU-powered supercomputers, the AI manufacturing unit will assist shut the infrastructure hole, making it simpler to construct and scale AI purposes regionally.
