">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Monday, January 18, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Econet’s Kwese TV calls it a day

Staff Writer by Staff Writer
1 year ago
in Business
8 min read
0

Zimbabwe’s Econet Media has shut down Kwese TV, its pay-television unit competing Multichoice’s DStv, due to “prevailing conditions in Zimbabwe and the current business operating environment,” said the company in a statement.

According to Group CEO Douglas Mboweni, in a statement issued Sunday, August 4th: “We regret to announce the discontinuation of Kwese TV Satellite Service with effect from 5 August. The third-party content providers on whose content we rely require payment in foreign currency. With the prevailing economic conditions in Zimbabwe, and the current business operating environment — characterised by an acute shortage of foreign currency — sustaining Kwese and Kwese Satellite Service was no longer viable.”

This announcement comes just a month after the company went into voluntary administration and appointed accountancy firm Ernst & Young to manage the transition. Kwese TV had about $130m in debts and its had not been paid for some months.

PUBLIC NOTICE – Termination of Kwesé TV Satellite Service pic.twitter.com/HCT8nijJCi

— Econet Wireless (@econetzimbabwe) August 3, 2019

Launched two years ago, Kwese TV Satellite Service was offered by Econet Media Ltd., an affiliate of Econet Group, owned by Zimbabwe’s richest man, Strive Masiyiwa.

Kwese TV, which was operating in more than 12 African countries offering news, sports and entertainment sourced from third-party content providers who require payment in foreign currency. However, the Zimbabwe regime stopped the use of US$ and South African Rand as legal tenders in the country and set up a crackdown on foreign currencies on the black market leading to an acute shortage of foreign currency and making trade with international suppliers harder.

READ  Orange Kenya & PesaPal Partner To Enable Subscribers Buy Airtime Online

Troubles at Kwese TV, began as early as November last year, Econet Media said it will shut down the subscription service to focus Kwese Free Sports, video-on-demand business Kwese Iflix and streaming service Kwese Play businesses.

Kwese Play

Kwesé Play was offered via its set-top box powered by the Roku. The set-top box brought 3rd-party apps such as YouTube, Netflix. Kwese Play did not see the light of the day too as it has been struggling to make ends meet. Kwese Play, which was a streaming service launched in partnership with Roku saw users pay $10 a month to access Netflix, YouTube and Red Bull TV over a Roku Powered set-top box. Kwese Play was to tie with Kwese FTA service Kwese Free Sports which is already live across various markets in Africa.

Related posts

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0

Roku recently announced it had discontinued its partnership with Kwese and for a few weeks Econet insisted its partnership with Roku was on until the firm came out clean going into voluntary administration.

Roku powered set-top box
Readers 3,146

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: EconetKwese TV
Staff Writer

Staff Writer

Related Posts

Business

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
Business

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0
Business

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0
Business

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0
Business

Equity Group crosses the trillion-shilling balance sheet milestone

December 23, 2020
0
Business

Econet Group’s Strive Masiyiwa Appointed to Netflix Board of Directors

December 17, 2020
0
Business

Is Kenya Becoming a Retail Deathplace?

December 15, 2020
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

What to do to check whether the signal is down

January 18, 2021

Top 5 Financial Assets to Invest In 2021 According to Experts

January 18, 2021

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021

This VC firm is Calling for Changes to Cut-and-paste VC Strategy In Africa

January 18, 2021

Tizeti rolls out high-speed 4G LTE in Edo with N4000/month broadband service

January 18, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: