Aloha,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- Econet is delisting from the Zimbabwe Stock Exchange
- Ghana legalises and regulates cryptocurrency trading
- Microsoft might axe 5–10% of workforce in 2026
Econet is delisting from the Zimbabwe Stock Exchange
Econet Wireless says it has started talks with the Zimbabwe Stock Exchange (ZSE) over issuing a circular to shareholders about plans to voluntarily delist from the bourse. This came after the telco kicked off plans to delist from the exchange two weeks ago, ending years of public trading at what it says has been a stubborn valuation discount. The company, controlled by billionaire Strive Masiyiwa, says the move is part of a broader restructuring aimed at finally unlocking shareholder value.
At the heart of the decision is frustration. Econet says it has consistently traded well below regional telecom peers, many of which are valued at 6–8x EV/EBITDA after separating their infrastructure businesses. In simple terms, similar African telcos restructured, investors rewarded them, and Econet believes it has been left behind.
Rather than sell off its towers outright, Econet plans to spin out its infrastructure assets into a new company — Econet Infrastructure Company Limited — and list it on the Victoria Falls Stock Exchange (VFEX). The telco, which revealed it is in discussions late Tuesday to do so, said the new entity will hold towers, power, and real estate assets, while Econet keeps a 70% controlling stake.
This matters because infrastructure separation has become a proven value-unlocking playbook across African telecoms. MTN, Airtel, Vodacom, and Orange have all either sold or carved out their towers, attracting long-term capital and sharpening focus on core telecom services. Econet is now aligning itself with that same model, just on its own terms.
For shareholders, the delisting won’t be abrupt. Econet plans to offer a voluntary exit ahead of the move, allowing investors to cash out or receive part-payment in shares of the new infrastructure company. A shareholder vote is expected in January 2026, which will determine whether one of Zimbabwe’s most prominent listed companies begins its next chapter off the ZSE.
Ghana legalises and regulates cryptocurrency trading
Ghana has officially joined the list of African countries putting clear rules around crypto. Parliament has passed the Virtual Asset Service Providers (VASP) Bill into law, giving the Bank of Ghana the power to license and supervise cryptocurrency businesses. Central bank governor Johnson Asiama announced the move at the Bank of Ghana’s annual Nine Lessons, Carols and Thanksgiving Service on Friday.
Why this matters is simple: crypto is now legal and regulated in Ghana. Individuals can trade digital assets without fear of arrest, while businesses finally have regulatory clarity. For a country with a fast-growing, youth-driven tech scene, the law removes years of legal grey areas and replaces them with formal oversight focused on consumer protection and risk management.
The new framework puts the Bank of Ghana firmly in charge, allowing it to approve, monitor, and regulate crypto asset service providers. The goal, according to Asiama, is not to stifle innovation but to reduce fraud, money laundering, and systemic risks, while still encouraging financial inclusion and responsible experimentation in digital finance.
This law didn’t come out of nowhere. The central bank has been signalling its intentions for years, with Asiama previously saying Ghana was targeting crypto regulation by the end of 2025. The passage of the bill delivers on that promise and places Ghana among the early African movers opting for structured oversight instead of outright bans.
The timing also makes sense given adoption trends. Ghana consistently ranks among sub-Saharan Africa’s top crypto markets, with strong peer-to-peer activity and high youth participation. As countries like Nigeria, Kenya, and South Africa debate or refine their own frameworks, Ghana is positioning itself as a regulated crypto hub, open for innovation, but no longer unpoliced.
Microsoft might axe 5–10% of workforce in 2026
Reports are swirling that Microsoft is gearing up for a major round of job cuts in January 2026, with insiders and anonymous posts suggesting the Redmond giant could eliminate between 5% and 10% of its workforce in the third week of the month. That could mean somewhere in the ballpark of 11,000 to 22,000 jobs at risk globally, though the company hasn’t confirmed anything publicly yet.
Sources point to teams in Gaming (Xbox), Azure cloud, and global sales as some of the units most likely to feel the pinch, with speculation that the cuts are part of a broader effort to flatten middle management and boost the ratio of individual contributors to managers. Microsoft had around 228,000 full-time employees as of mid-2025 and already trimmed nearly 15,000 roles last year across multiple layoffs tied to cost realignment and shifting priorities.
The backdrop to all of this is Microsoft’s intense focus on artificial intelligence and cloud infrastructure. The company is ploughing huge sums into AI, with capital spending expected to exceed $80 billion in 2026, much of that going to data centres, chips, and AI tools. Analysts say this shift and the monumental costs that come with it may be prompting management to tighten belts elsewhere, even as revenue and profit remain strong.
This wouldn’t be Microsoft’s first major workforce reduction: in 2025, it cut roughly 6,000 jobs in a big reorganisation, and some earlier rounds hit Xbox and other units as part of a dance between trimming and re-tooling. Across the broader tech sector, heavy layoffs have been a theme, with giants like Meta, Amazon, and Intel slashing tens of thousands of jobs as AI reshapes staffing and strategy.
For tech workers and markets alike, the possible cuts underscore a key tension in Big Tech: invest heavily in AI while paring down legacy structures. If these reports turn out to be accurate, Microsoft’s January announcement could set the tone for the first big wave of 2026 tech layoffs, even as it tells the world it’s doubling down on the next frontier.
In case you missed it
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Have a superb Thursday!
Victoria Fakiya for Techpoint Africa
