Telecommunications company Spiritage SA, based in Johannesburg, South Africa, has signed a three-year contract with the Movit Media Corp group for the exclusive use of its Movit app product. This is a technology for eliminating international roaming charges. It allows you to use your mobile phone number anywhere in the world while benefiting from reduced local call rates via a local SIM card. No need to use a new international phone number.
Under the terms of the contract between Spiritage SA and Movit Media Corp, the license covers the African continent and allows Spiritage to sub-license the Movit app to other entities on the continent. In addition, Spiritage has agreed to develop another brand called “Brodacall”, with the Movit app technology, for exclusive use in Africa.
Spiritage has agreed to pay the sum of $ 100,000 representing the license fees, to pay Movit Media Corp 20% of all costs related to the sublicensing agreement and a royalty of 2% on all revenues generated by Brodacall application.
Stephen D. Inouye, chief financial officer and also acting chief executive officer of Movit Media Corp, said: “The African continent has a population of around 1.2 billion people (…). People are mobile and roaming costs are an integral part of their personal and business lives. Using Movit app technology will translate into significant savings for customers across Africa. “The signing of the license agreement with Spiritage represents a huge endorsement and validation of the value of the Movit app technology.”
source: ecofin agency