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Founded Year

1993

About Econet

Econet is an entrepreneurial technology group that specializes in digital connectivity and services across Sub Saharan Africa. The company offers a range of technology solutions including mobile telephony, broadband networks, data centers, renewable energy, cloud & cybersecurity, fintech, and on-demand digital platforms. Econet primarily serves sectors such as telecommunications, digital infrastructure, financial services, and renewable energy. It was founded in 1993 and is based in Johannesburg, South Africa.

Headquarters Location

Willow Wood Office Park 220 Third Street, Broadacres

Johannesburg, 2021,

South Africa

+(230) 404 6000

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Latest Econet News

Man who came up with “Please Call Me” idea seeking $500m from Vodacom, the courts agree but Vodacom fighting

Feb 7, 2024

Search Man who came up with “Please Call Me” idea seeking $500m from Vodacom, the courts agree but Vodacom fighting Leonard Sengere 7 February 2024 We take it for granted that if ever you run out of airtime and do not have the funds or means to purchase more, you can send a “Please Call Me Back” text to a friend. It’s a neat little feature which has no doubt saved some people’s literal lives. It’s *555# on Econet, *140# on Telecel and *141# on NetOne. I feel like we don’t use these Call Me Backs as much because of services like WhatsApp that make texting affordable. Anyway, there is a battle that’s been raged over “Please Call Me.” The person that came up with the idea has not been compensated to his satisfaction and he has been in and out of court with Vodacom to hash out the issue. Please Call Me A fellow by the name Nkosana Makate, a tech entrepreneur from South Africa is credited as the man who came up with the idea. Vodacom jumped on it and made its millions, nay, billions from the idea. As the model corporation they are, they offered Makate US$2.5 million as compensation for his brilliant idea. Makate felt it was a spit in his face and countered with $542 million. Yhoo, that’s quite the difference. Vodacom offers to pay $2.5m and my guy says $542m would be fair, still below what he should get, but fair. The matter has been to: the High Court (which ruled that Vodacom had not adequately compensated Makate), the Constitutional Court (which ordered them to negotiate in good faith) and the Supreme Court of Appeal (which ruled that Makate is entitled to receive between 5% to 7.5% of the total money generated from the idea, plus interest) The Supreme Court of Appeal made it’s ruling yesterday, the 6th of February 2024. Vodacom is not having it and are already preparing to appeal before the Constitutional Court of South Africa. Why are they not happy with paying 5 to 7.5%? For the calculation of 5 to 7%, the period considered is from 2001 to 2019. That’s a long period of time and a lot of money. Makate’s lawyers calculate that Vodacom made US$10.2 billion from the idea from 2001 to 2020. Hence the $542m compensation they seek. Delays The Constitutional Court first ordered these guys to negotiate in good faith back in 2016. Eight years later they are still taking each other to court. Now Vodacom will appeal to the Constitutional Court, adding some more months or years to the process. Large corporations will drag it out in the courts, all to frustrate their opponents. It’s been over 8 years since negotiations began and there could be some time still. How is Makate even funding this court case? It’s crazy but if I too were looking at a half billion dollar payout, I would fight it the way Vodacom is. We’ve seen this in Zimbabwe In Zimbabwe we have had a lot of people claim their ideas were stolen. Quite a number have claimed Econet stole from them over the years. What’s different with these cases is that it is not agreed upon that Econet used anyone’s ideas. Vodacom acknowledges that it was Makate’s ideas. Econet has not agreed to using anyone’s ideas. To be fair, some of the people who claim Econet stole from them are just dreaming. For some, you’re like, “I don’t know what’s what here” but nothing has come of it. Here are two that come to mind. Artwell Makumbe claimed Sasai was stolen from him and threatened to sue. That was over 5 years ago and we await the lawsuit Ignatius Munengwa claimed his panic button idea was stolen by Econet and sued for US$870 375 . That was in 2017 and since then, Munengwa withdrew the case from the High Court after his lawyers missed deadlines, and reported Potraz to the Ministry of ICT in 2022 after it handled the complaint unsatisfactorily. Also read:

Econet Frequently Asked Questions (FAQ)

  • When was Econet founded?

    Econet was founded in 1993.

  • Where is Econet's headquarters?

    Econet's headquarters is located at Willow Wood Office Park, Johannesburg.

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