Econet founder, Strive Masiyiwa has overtaken Patrice Motsepe to become the richest black man in Southern Africa.

His net worth has increased from $2.7 to $4.4 billion, raising Zimbabwean flag higher.

Masiyiwa’s new title is thanks to the year-to-date price increase in the shares of his telecom company, Econet Wireless Zimbabwe, and his smart-tech company, Cassava Smartech.

As of Wednesday, Masyiwa’s net worth had increased from $2.7 billion to $4.4 billion, Billionaires Africa reported.

Forbes, who have another list, still has Masiyiwa behind Motsepe, but both men have seen their wealth rocket since the start of the year, with Motsepe having topped the list since 2008.

Masiyiwa, 61, recently announced his retirement as chairman and director of Econet Wireless Zimbabwe Limited and still retains his more than 50% stake in the company he listed on the Zimbabwe Stock Exchange in 1998.

-Business Insider