We’ve just received news that the High Court of Zimbabwe yesterday handed down an interim order against Econet in response to Trustco’s application for an interdict last month. The interdict sought to enforce Econet’s compliance with the Ecolife contractual obligations and to prohibit the company from infringing on Trustco’s Intellectual Property by, as it appears, deploying a similar concept. Econet itself has indicated that it is working on its own Ecolife system to replace Trustco’s.
Part of the high court order reads:
1. The first respondent (Econet) is directed to restore to the first applicant (Trustco Mobile) the internet based reporting links and all access to Trustco Mobile hardware and software, thus enabling it to monitor and process airtime purchase transactions and otherwise perform its obligations in terms of the agreement;
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2. The first respondent (Econet) be directed to refrain from undertaking and implementing a competing, infringing service to that provided by the first applicant (Trustco Mobile) in terms of the agreement.
According to the communication we received this afternoon, Trustco Mobile anticipates the continuation of the mobile based life insurance project with Econet:
It is foreseen that none of the almost two million subscribers to “Ecolife” will loose any of their accumulated life cover, as Trustco Mobile anticipates the continuation of the venture in Zimbabwe to the benefit of all parties concerned.
For some back ground to the issue, here are some stories we did on the two companies and the insurance product:
More than 1.6 million Econet subscribers have registered for Ecolife
Trustco abruptly terminates Ecolife agreement with Econet
Econet issues press release on the Ecolife agreement termination with Trustco
Why Econet and Trustco Mobile fell out
The Trustco side of the story. Trustco to protect its intellectual property rights
TrustCo suspends journalists over Econet stories