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Econet puts pay-TV arm into administration

Telecommunications firm Econet Media has placed its Kwesé TV pay-television arm into administration.

Econet executive Joseph Hundah confirmed to the Business Day newspaper that the company has appointed Ernst & Young to manage the administration process.

Kwesé TV broadcasts in a number of African territories but Business Day notes that the service has struggled in a competitive market that includes DStv, which is owned by South African broadcaster Multichoice.

Hundah told Business Day that Kwesé’s free-to-air operations were “too small” to cover the costs of its satellite output, adding that Econet’s “inability to exit money out of Zimbabwe” has also had an impact. Zimbabwe’s government has stopped recognising the US dollar, South African rand and other currencies as legal tender in a bid to combat inflation.

Hundah added that Kwesé TV’s free-to-air channels would remain operational across Africa.

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