The new service would allow members of his nation to make "free Hlubi-to-Hlubi calls".
The service was reportedly one of many plans he had to bankroll a planned legal battle.
The king, also known as businessman Bryce Mthimkhulu, is launching a court bid to claim billions of rands from the British government to compensate for colonial-era destruction of his kingdom.
Mthimkhulu's legal team is headed by University of SA law expert Khaled Qasaymeh. Mthimkhulu said the claim would be presented to the British High Commission in South Africa early next year.
"We would prefer to settle this amicably, but should there not be agreement, we have assembled a very powerful legal team... to take forward the claim on the basis of international law," Mthimkhulu told the paper.
He conceded the quantum of the claim would be difficult to determine. Mthimkhulu said the matter was not merely about money, but about "restitution and righting of wrongs".