Econet places Kwese under administration

By Staff Writer | 04 Jul 2019 at 11:46hrs
According to a Business Day report, Econet Media has placed its satellite broadcasting business under administration.

Econet Media CEO Joseph Hundah told Business Day that Kwese would begin talks with creditors to rescue the business, stating that it was to small to sustain the financial burden of its satellite operations.

He added that the group's inability to move money out of Zimbabwe also had an impact on the business.

Kwese TV will reportedly continue to operate its free-to-air business in the rest of Africa as normal.

Meanwhile, the Roku devices of Kwesé Play subscribers on the continent stopped working on 3 July, displaying a message suggesting that the platform had been shut down.

"Econet no longer offers Kwesé Play. For more information contact Econet," the message reads.

This resulted in subscribers assuming that Econet had shut down its Kwesé Play service, along with its partnership with Netflix, with no prior warning.

Kwesé Play is a Roku-powered video streaming service offered by Econet Media. This company is also part of the Econet group, which also owns Liquid Telecom.

In response to questions on social media, Kwesé Play said that it was "experiencing a challenge on the platform" and that its technical team was working to restore normal service.

Later that evening, Econet sent an e-mail notice to subscribers stating that Roku had unexpectedly terminated the service amidst negotiations.



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