Kwese TV Shuts Down Due To Shortage Of Forex

Subscribers Lament As Econet Media Shuts Kwese TV
Starting from 5th of August, 2019, Econet Media will be putting an end to all Kwese’s remaining existing services.
Services that will be shutting down include satellite cum Pay TV service, free-to-air TV, Kwese iflix and the Kwese Free Sports.
The Parent Company, Econent Group had previously announced its decision to shut down operations of the company last December. The company confirmed that the closure of the Pay TV would no longer be postponed after a public formalisation of its closure in 2018.

Reasons Behind The Shutting Down

According to reports, reasons behind the Kwese TV's shutting down include the high cost of acquiring content and paying in foreign currency and the shortage of forex. Till date, Zimbabwe's economic conditions have continued to worsen in, heightened by forex shortages.
The company majorly relied on third-party providers for its content but could no longer keep paying in foreign currency.
“The third-party content providers, on whose content we rely, require payment in foreign currency. With prevailing economic conditions in Zimbabwe, and the current business operation environment, sustaining Kwese and the Kwese Satellite Service was no longer viable,”
 said Douglas Mboweni, Chief Executive Officer (CEO) of Econet Group in a public notice.
Musonza further added that the parent company which operated the entertainment division is now under the administration because of outstanding debt.
“This really has nothing to do with Zimbabwe, but a lack of appreciation of the video/television industry and the evolving technology.”
Kwese TV has in its four years of existence provided premium contents to tens of thousands of subscribers across more than 12 African countries.
The company has also shut down their official website and pulled out the the Kwese TV and Kwese iflix apps from the Google Play Store and the Apple Store.

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