Econet funds the scholarship in honour of the late Father Zimbabwe's influence in them being awarded a licence to operate a mobile company.
In 1997, Joice Mujuru, then the Information, Posts and Telecommunications Minister, committed a grave political sin - defying instructions from the late Vice President Joshua Nkomo before questioning his sanity.
Nkomo, idolised countrywide for his leadership of the Independence war effort, and especially in Matabeleland his home, had directed Mujuru to issue Econet Wireless with a cellular network licence but instead she awarded it to Telecel.
In her defence Mujuru said she had defied the iconic former PF-Zapu leader, who was 80 then, after being "advised that the Vice President wasn't at his best."
"Dr Nkomo is ageing and doesn't always understand or remember things as well as he used to," Mujuru was quoted saying.
President Mugabe, who was out of the country, slammed Mujuru and ordered her to apologise to Dr Nkomo leading to Telecel's licence being withdrawn.
The licence was given to Econet.