Netflix has tapped African billionaire and telecom mogul Strive Masiyiwa to replace Susan Rice on its board of directors.

Rice, former U.S. ambassador to the United Nations and former National Security Adviser to U.S. President Barack Obama is leaving Netflix to join the administration of incoming U.S. President-elect, Joe Biden.

"We are delighted to welcome Strive to the Netflix board," Netflix co-founder, chairman and co-CEO Reed Hastings said in a statement. "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."

Masiyiwa, who has an estimated current net worth of $1 billion, heads up Econet,  a telecommunications and technology group with operations and investments in 29 countries in Africa and Europe. He launched mobile phone network Econet Wireless Zimbabwe in 1998 after a years-long fight with Zimbabwe's state-owned telecommunications operator.

In a statement provided by Netflix, Masiyiwa 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."

Strive serves on several international boards including Unilever Plc, National Geographic Society, Asia Society, and the Global Advisory boards of Bank of America, the Council on Foreign Relations (in the US), Stanford University, and the Prince of Wales Trust for Africa, and is a longstanding board member of the United States Holocaust Museum's Committee on Conscience.

(With input from agencies)