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Econet employee defrauds company of $4 million in juice card heist

Econet, bundles, data, voice, SMS, prices, mobile data, outage, internet

When it rains it pours for Econet Wireless Zimbabwe. In January this year, two (former) employees from the country’s biggest mobile network operator (MNO) were given a combined nine years for defrauding the company of ZWL$20 million and now there is a new report of another employee who defrauded Econet of ZWL$4 million in a juice card heist.

According to a report by The Herald, Tatenda Simende, a sales consultant in charge of dispatching bulk airtime at Joina City, made a transaction to a company called SpellBound Electronics worth ZWL$1 million in June last year. He then went on to enter the proof of payment (POP) from that transaction as another payment to Econet in his end of day reporting.

From what the prosecution said in the report by The Herald he then used that fudged POP to buy an equivalent amount in scratch cards. In July 2021, he allegedly did the same thing with another proof of payment but this time bought physical recharge cards worth just under ZWL$3 million.

This whole affair was found out in January when Econet did a bank reconciliation and saw the discrepancy. According to a report by Newsday, none of the funds from both transactions were recovered which puts the total at just under ZWL$4 million.

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7 thoughts on “Econet employee defrauds company of $4 million in juice card heist

  1. Combining time does not “mathematically” make sense eg 10 fraudsters given 6 years each vane combined 60 years in prison. Same with Dokora who changed Mechanics to “Mechanical Maths” kkkkkk. Indeed “everyone” should have Maths at O Level to minimise these “meaningless ” scenarios.

    I am a mathematics n’anga by the way 🤣🤣🤣

  2. Stealing is not good. Its very bad when an employee defrauds a company like that, but the problem is these companies are not motivating their employees. In this economy employees are earning RTGS peanuts from big companies like Econet. This is what triggers employees to end up committing Fraud, simply because they are not motivated. Companies are failing to pay a good enough wage or salary to their employees. By the time companies want to increase the remuneration of their employees, the Black Market rate would have shot very high such that it won’t be worthwhile anymore to keep on reviewing employees benefits in RTGS. Because of such economic factors, employees end up doing what they have to do, although it’s not a hood thing, but to avoid such, companies should motivate their employees

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