Netflix Adds Strive Masiyiwa To Board Of Directors

The Founder and Executive Chairman of the Econet Group, Strive Masiyiwa, has joined the board of directors at Netflix, becoming the first African to join the streaming giant’s board of directors. And this move follows last week’s news that Susan Rice had left her board post in preparation to take a role in the Joe Biden administration which in a way has been replaced by Strive Masiyiwa.

Strive Masiyiwa is the founder of Econet Group which has operations and investments in 29 countries in Africa and beyond  includes Econet Wireless, Zimbabwe’s leading mobile operator; Liquid Telecom, the pan-African broadband company and its subsidiary Africa Data Centres, the fast-growing data center company, which just raised $300 million from the US government’s development finance arm.

Netflix co-founder and co-CEO Reed Hastings said in a press release;

“We are delighted to welcome Strive to the Netflix board. His entrepreneurship and vision in building businesses across Africa and beyond will bring valuable insights and experience to our board as we work to improve and serve more members all around the world.”

Strive Masiyiwa in the statement said;

“Netflix is at the forefront of bringing great entertainment from anywhere in the world to everyone in the world, and I look forward to working with the board and all stakeholders to continue its traditions of innovation and growth.”

Like other big tech corporates in the US, Netflix would have been keen to add or retain some diversity on its board. In March 2018 it appointed former US ambassador to the United Nations and national security advisor, Susan Rice to its board, but last week she stepped down to join president-elect Joe Biden’s incoming administration.

Masiyiwa is effectively replacing Rice and as it currently stands would be the only recognized person of color on the board along with four women and seven other men, including co-chief executives Reed Hastings and Ted Sarandos. Masiyiwa ensures Netflix will still have at least one Black director. Susan Rice, who became Netflix’s first Black board member in 2018, is leaving  to join the presidential administration of Joe Biden. 

In July 2018, Twitter added former Nigeria finance minister Ngozi Okonjo Iweala to its board.

Netflix has been expanding its influence across Africa rapidly in the last year as it rolls out a haul of original African shows and movies led by talent and producers from South Africa and Nigeria. It has been trying to figure out ways to make its service more accessible and affordable particularly in most African countries where watching video over internet usage is sometimes discouraged by costs or poor quality.

“I’m thrilled to have Strive join our board as we expand more across Africa and the world,” said Sarandos.

Despite his success in corporate life and entrepreneurship, Masiyiwa, who also sits on board of  Unilever and the global advisory board of Bank of America, has run into conflict with his country’s government several times. Zimbabwe’s regulators have effectively shut down his company’s operations with internet shutdowns to curb political activists or curtailed the dominant mobile money operations of its Econet Wireless during its currency crises.