Magazine date:
Mar 2014 In 2010, Econet phone company established a new life insurance company called Ecolife, offering insurance coverage to all users of its mobile network spending at least three dollars of communication per month.
The company came into conflict with TrustCo which developed the computer application. To manage the product, TrustCo received a lump sum based on the number of service users. Econet has accused its partner of non-compliance with the rates originally approved by both parties.
The dispute was brought before the court which sentenced TrustCo to pay nearly 450 000 USD to Econet. The service, shut down since the beginning of the dispute, has recently resumed. The number of customers benefiting from this offer is estimated at 1.2 million.