Econet’s Kwese` TV Satellite Service is today closing down siting the prevailing economic conditions in Zimbabwe.
Econet Group CEO Douglas Mboweni in a public notice on the termination of the satellite services says the third-party content providers, which Kwese rely on, require payment in foreign currency.
“With prevailing economic conditions in Zimbabwe, and the current business operating environment – characterised by an acute shortage of foreign currency – sustaining Kwese and Kwese Satellite Services service was no longer viable,” Mboweni says.
“We regret to end this service, which thousands of Zimbabweans had embraced and welcomed into their homes and offices as a viable, alternative source of news, sport and entertainment.”
Kwese had closed down its services its pay-TV services last year in a move to cut off expensive third-party channels across the African market.
The satellite service managed to garner tens of thousands of subscribers in 12 African countries.
Kwese, at its peak, had about 15 entertainment, 8 children and the young at heart, 5 music, 10 factual and lifestyle, 2 religious and 5 sporting channels.
The company had plans to add more channels this year if it had not been forced to close down.
Kwese’s closure leaves DSTv dominating the satellite space.
DSTv already had a variety and the largest number of channels than any other players on the continent’s satellite television platforms.
