Caribbean company demands share of Please-Call-Me founder Nkosana Makate's millions from Vodacom
- A company from the British Virgin Islands in the Caribbean has laid claim to a substantial percentage of Nkosana Makate's payout from Vodacom
- Vodacom reached a settlement with Makate after a legal battle that lasted almost two decades, which ended in November
- However, a mining company alleges that it deserves almost half of the payout due to a contract that existed between Makate and the company
Tebogo Mokwena, a Briefly News journalist with 10 years of experience, offered valuable insights into South Africa’s business environment during his three years at Vutivi Business News.
Source: UGC
JOHANNESBURG — Nkosana Makate, the founder of Please-Call-Me, has rubbished a claim a British Virgin Islands company made to the fortune he received after he and Vdacom reached a settlement.
According to News24, Black Rock Mining alleged that it was entitled to 40% of the payout. This was due to a 2011 agreement between Makate and Black Rock Mining. Makate approached the company, and it assigned an agreement to fund Makate's legal battle against Vodacom. However, Makate said in 2018 that his lawyers cancelled the funding agreement.
Company fights for Please-Call-Me shares
The company's representative, Sinen Mnguni, said that Makate and Christiaan Schoeman, a South African businessman, entered into an agreement to fund his legal war. Schoeman reportedly represented Black Rock, which at that time was not named.
Makate, however, said that the company was more than welcome to sue him. He rubbished their claim to the payout he received and said their case is without merit.
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A look at the Vodacom Please-Call-Me saga
Makate first pitched the idea of a 'Please Call Me' to a product developer while working at Vodacom in November 2000. A year later, the invention was a success, and Vodacom promised to give him a share of the revenue if it became a success. However, Vodacom did not, and this began a court battle beginning in 2005 and lasting for 20 years.
3 Briefly News stories about the Please-Call-Me saga
- In 2023, Vodacom argued before the Supreme Court of Appeals that the CEO had the right to determine how much Makate deserved for his invention
- Vodacom lost a court case in the same year when the High Court in Pretoria rejected its request to overturn a 2020 ruling, which ordered Vodacom to provide Makate with contracts
- Vodacom was also ordered by the Supreme Court of Appeal to make a fresh determination on how much Majate was due to receive after he rejected the R47 million offer
Vodacom reaches a settlement with Makate
In a related article, Briefly News reported that Vodacom and Makate reached a settlement deal. The settlement deal followed two decades of legal battles between Makate and the telecommunications giant.
The company announced on 5 November to its shareholders that it had reached an agreement with Makata about his compensation. The amount was not revealed. The company then said that it will no longer continue its legal action before the High Court and the Supreme Court of Appeal.
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Source: Briefly News
