How many times have you heard the phrase, “The world is a global village.” Probably a lot. When Marshall McLuhan, who Google search credits as the originator of that saying, uttered those words he was describing how the world has been shrunk by modern advances in communication tools. This simple and overly used phrase – […]
Econet has grown EcoFarmer to close to a million users, now it has to figure out how get them to pay
After almost 3 years of operation, Ecofarmer, Econet’s agricultural support platform is now edging towards the 1 million user mark. According to figures released in the mobile operator’s 2016 integrated financial report Ecofarmer now has 900,000 subscribers. The last Ecofarmer subcriber figures that were shared showed 650,000 in August last year. This represents steady growth through […]
Econet’s EcoSure burial society service now processing over 400 claims a month, registers over 2,000 groups
According to Econet, one of those added services, Ecosure’s burial society service now has over 2,000 burial societies since its launch last year
What do we remember about telecoms services last year? Well, for one thing Econet Wireless went all out with new products. The mobile network operator seemed to extend its hand to everything from money remittances to cars and water. What ended the year though was the launch of EcoSure, the mobile insurance product that took […]
Minus the mercilessly incessant spam SMS that EcoLife became known for, the model of the life assurance product itself was brilliant. Based on a minimum threshold airtime usage of $3 per month, Econet subscribers would qualify for $12,000 life cover. But the service was discontinued, and when its successor, EcoSure, launched 3 months ago, the model had changed – one […]
Earlier today it was reported by leadership.ng that the mobile network operator MTN Nigeria launched an insurance package for Small and Medium scale Enterprises (SMEs) called MTN Y’ello Biz. If an insured SME encounters disasters like flooding and fire, this insurance scheme extends cover of up to N1000,000 (1 million Naira which is equivalent to […]
It’s no longer called EcoLife, but Econet are back in the insurance game. This time it’s called EcoSure, and its hardly the same thing as the previous offering. The service has a different value proposition and merits in other aspects such as ease of use and a different payout. This is the MNO’s renewed attempt […]
About a month ago, we got information and published that Econet wad preparing to re-launch what used to be (a nightmare) called EcoLife. Today, that product is being officially launched in Harare, but under a different name – EcoSure. This is one product that has taken Econet a long time to deliver both because of the […]
Here’s our latest edition of the Techzim Podcast. In this episode we discussed the return of Ecolife and whether or not it is going to move the market. We also looked at Zimpapers’ aggressive move into paid for online publishing and their new sports news platform as well as the FlyAfrica Zvirikuflaya media campaign on social media. Are […]
We have just been informed by sources close to Econet that the MNO is set to reactivate its insurance product Ecolife tomorrow. This isn’t an official launch, it’s more like a silent rollout of the service which hadn’t been available since 2012. This time Econet will be riding solo with its own new life assurance […]
Telecel ZImbabwe has just announced the introduction of a mobile life insurance product called Telecare. The product, a result of a partnership with Zimnat Lion, is available to all registered Telecel subscribers and provides funeral, hospital, local and international travel cover. Telecare is available with two plans, the Value Plan and the premium plan. To […]
My relationship with my network provider, Econet Wireless is rather complicated. Why complicated? Well there’s so much to be happy about when it comes to being an Econet subscriber. Then there’s the litany of frustrating practices that warrant dismissing the Econet service and using another provider altogether. All this leaves one with conflicted choices about […]
So we all thought the Econet vs Trustco war over Ecolife was done. Econet had won the final battle in the Zim Supreme Court and they were set to look at new opportunities in the life insurance for minimum monthly service credit spend. Nay. Apparently the war scaled up to international arbitration where, we’re guessing, Trustco […]
This is our second weekly podcast and as the first, we hope you enjoy listening to it as much as we do hosting the show. Here’s the list of issues covered: The Schools Robotics tournament that was held in Harare last week The new e-FML mobile based insurance service EcoLife and why people are still […]
So, everytime we post an article about a new Econet value added service, it’s followed complaints from some readers who apparently feel cheated that Econet ended the EcoLife service. Some even go to the extreme of complaining that Econet owes them Ecolife money. Take yesterday for example when we posted the Econet to provide loans via EcoCash story. […]
Econet announced today that the Supreme Court has ruled in their favour in the matter against Namibian technology company Trustco, in the Supreme Court. The two companies have been fighting in court since mid 2011 following disagreements over the running of the EcoLife service. The victory is more one of principle and closure as it has no bearing on the EcoLife service itself. Econet’s agreement with Trustco legally came to end in February last year.
The Ecolife case, now a thorn in Econet’s side, is not over yet. The main headline on the Herald front page today reads “Econet bosses face arrest”. The story basically says Trustco is mad that Econet is ‘getting away with murder’ and they are seeking, through the courts, to have Econet chairman Tawanda Nyambirai, deputy FD Roy Chimanikire and CEO & director Douglas Mboweni jailed for 90 days.
As you may already know, Econet announced its full year audited financials yesterday. We posted a bit about it yesterday but there wasn’t much besides the impressive profit figures the telecoms firm continues to post. Today we have more details; information on the company’s plans this year, their operation challenges, what they are doing to overcome them, EcoCash uptake, Ecolife, Average revenue per user, their gratitude to POTRAZ and other such.
Today, Econet Wireless Zimbabwe announced in a public notice that as the Ecolife agreement with Trustco has expired, the mobile operator is unable to continue offering the mobile life insurance product. Econet says it will honor any claims from beneficiaries entitled to the cover as at midnight 17 February 2012.
Some several days ago, we learnt that Econet complied. Quietly. Ecolife, we’re told was switched on some few weeks ago. Three or four, according to our sources. At least two individuals close enough to know the truth have confirmed this.
NewsDay reports today that an Altfin Holdings subsidiary, Altfin Medical Aid Scheme, and state owned mobile operator, NetOne, have launched a new mobile phone based medical aid scheme. The scheme is called MedAccess. NetOne is the technical partner in the project. Subscribers will be able to register for the new service using their NetOne mobile phone numbers as the medical scheme’s registration numbers.
Today, we received communication from Trustco today confirming that they have been allowed to execute judgement as handed down by the High Court in July. The Trustco contact we communicated with says the court order was served to Econet today and all things [Ecolife that is, will be] back to normal shortly.
When judgment was handed down last week against Econet in the Econet Vs Trustco case, the Namibian mobile firm was quick to announce to the market that it would be business as usual in Zimbabwe. It appears Trustco was keen to assure shareholders the mess in Zim had cleared up, or maybe they just believed Econet would give up the fight this early.
As Techzim we are obliged to promote debate and dialogue. We were surprised to read an article in this morning’s Daily News (A Zimbabwe daily) that we believe was not generous with facts. The article’s opening shot begins by describing Trustco as “a company that appears to talk very big about itself”, and proceeds to stage a series of assaults on the company, most of it factually incorrect and misleading.
Earlier today, we posted news of yesterday’s Zim high court judgment ordering Econet to restore the Ecolife relationship with Trustco and to “refrain from undertaking and implementing a competing, infringing service” to Trustco’s. So far, Trustco has announced that it’s business as usual in Zimbabwe for Trustco Mobile. This may not be the case. It’s more of court battles in Zimbabwe it appears.
No sooner had we posted the news about the interim order the high court issued against Econet yesterday, than we got a press release from Trustco on the issue. The press release has a celebratory tone and seeks to assure shareholders that the mess in Zim has cleared up.
We’ve just received news that the High Court of Zimbabwe 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 apparently by deploying the same concept. Econet itself had indicated they were working on their own Ecolife system to replace Trustco’s.
Since TrustCo terminated the Econet agreement some 2 weeks ago, TrustCo hadn’t spoken about the issue. It is Econet Chairman, Tawanda Nyambirai, who gave the Econet side of the story which basically amounted to: TrustCo demanded more money than was due to them, spammed Econet subscribers, threatened to terminate the agreement when Econet complained about all this and when Econet called their buff, they backed out but Econet wouldn’t have it.
Today, the reasons behind the Econet and Trustco fallout have started to come out. Econet chairman Tawanda Nyambirai says Econet approached Trustco with complaints of breach of the contract between the two companies. Trustco apparently then threatened to terminate the agreement believing it could use its technical leverage to have its way.
Today, Econet issued a press release to reassure customers they are not going to lose their Ecolife cover and that there’ll have another system running in place of the Trustco Mobile one whose agreement was terminated. The release doesn’t say much that Econet hasn’t already said in its public notices since Monday.