M-Comm Africa (Private) Ltd owner Ignatius Munengwa is demanding $870 375 damages from Econet Wireless (Private) Ltd for stealing his panic button business concept.
In his declaration, Munengwa said he discussed the concept with Econet’s high-ranking officials namely Fungayi Mandivheyi, Francis Mwale and Darlington Mandivenga on October 18, 2011. Munengwa reached an oral agreement which would see him getting 60% and Econet getting 40% of the proceeds if the project was implemented jointly. He states that Econet proceeded to launch its connected home service, incorporating the panic button service in 2015 without his consent or authority. Munengwa argues he signed Econet’s standard non-disclosure agreement under the belief that Econet would not steal his idea.
More: NewsDay
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