Vodacom's revised earnings estimates reveal potential Makate payout

[Hanno Labuschagne]

Vodacom's revised earnings estimates reveal potential Makate payout

Vodacom potentially paid Kenneth Nkosana Makate between R353 million and R748 million in a settlement for his "Please Call Me" idea.

The estimated range is based on the impact that the settlement had on Vodacom's expected earnings for its interim financial year ending 30 September 2025.

 

[Unreal]

Anybody got his contact details. I’ve got a business idea that needs funding

 

[EmmanuelGoldstein]

Of that 99% gobbled up by legal fees…
Those lawyers are going to have a piss up of note soon

 

[HartsockZA]

A year later article about this dude being either broke or rich time will tell

 

[SHL]

Of that 99% gobbled up by legal fees…
Those lawyers are going to have a piss up of note soon

Don't forget SARS.

 

[EmmanuelGoldstein]

Don't forget SARS.

Thank you…forgot about them

 

[LazyLion]

Would love to know....

1) Who all got fired as a result of this epic stuff up...
and...
2) How they now view this epic stuff up in retrospect (a learning lesson for companies on how NOT to do business).
(Does it now form part of their training manuals)

 

[Death]

Would love to know....

1) Who all got fired as a result of this epic stuff up...
and...
2) How they now view this epic stuff up in retrospect (a learning lesson for companies on how NOT to do business).
(Does it now form part of their training manuals)

Know all future contracts since then are beyond iron clad. No matter what is promised by an individual in their employ, they are not liable etc etc. That, and something like anything you think of/create/touch is property of Vodascum and you have no legal claim in any form.

 

[EmmanuelGoldstein]

Know all future contracts since then are beyond iron clad. No matter what is promised by an individual in their employ, they are not liable etc etc. That, and something like anything you think of/create/touch is property of Vodascum and you have no legal claim in any form.

and then people tell me I am mad when even the cleaning staff here have it in their contracts

 

[FiestaST]

Stupid is as stupid does:

https://twitter.com/x/status/1986352570063835609

 

[Smiggles]

Just in time for black friday.

 

[RomTuringia]

SARS - Isn't that 45% of whatever amount ???

 

[pstation]

Would love to know....

1) Who all got fired as a result of this epic stuff up...
and...
2) How they now view this epic stuff up in retrospect (a learning lesson for companies on how NOT to do business).
(Does it now form part of their training manuals)

Their former CEO is the one who mainly stuffed up this case.

He wrote a book lying claiming to be the one that invented it and also went to court and lied about it.

https://www.news24.com/business/court-slams-execs-false-please-call-me-story-20160426

This entire thing was something that could have easily been settled out of court 20 years ago, but Vodacom was stubborn and turned the courts into a circus.

 

[theratman]

SARS - Isn't that 45% of whatever amount ???

Yes, SARS will take a big cut, it was always going to. I'm sure he'd rather pay SARS a big cut of a few hundred million than a big cut of R50 million.

 

[neoprema]

Yes, SARS will take a big cut, it was always going to. I'm sure he'd rather pay SARS a big cut of a few hundred million than a big cut of R50 million.

For the first time ever, I hope SARS takes every possible penny they can, and more

 

[Gudnews]

What's his take home after taxes and lawyers?

 

[m4tic]

Lawyer fees are capped at 25% by law

 

[Hazy_Living@79]

Lawyer fees are capped at 25% by law

Advocates fees, expert witnesses etc are not covered by that. That's just the lawyers.

 

[m4tic]

Advocates fees, expert witnesses etc are not covered by that. That's just the lawyers.

I find your wishful thinking amusing. Either way, he's rich

 

[Hazy_Living@79]

I find your wishful thinking amusing. Either way, he's rich

What wishful thinking?