What really went wrong with Econet Media, the slow death of Kwese
By Toneo | 09 Jul 2019 at 09:22hrs
Strive Masiyiwa is one of the richest Africans to come from Zimbabwe, According to Forbes, the man is worth more than $2.5 Billion in actual USD value. He had started the next biggest business which packed up at an insolvent value of $130 million
TV and media business is big! Very Huge to be precise and for giants like Strive to go insolvent at a tune $130 million, well I honestly think there is more to this than meets the eye.
Was Econet media being run by incompetent people who drained lots of its resources to the ground. Was this not a long term investment business which really had a chance against DStv.
First, it was Go Tv, then Kwese! Even the Free To Air Wiztech Packed Up!
These decoders failed dismally in a market which MultiChoice is flourishing and the question is why? Could there be any conspiracy?
The Econet Media CEO is a well versed and experienced person. Joseph Hunda is a seasoned media and finance executive with over 20 years' Pan-African and international experience. His previous roles include Executive Vice President: Africa for Modern Times Group as well as Managing Director of MultiChoice, Nigeria; Operations Director for M-Net, Sub-Saharan Africa, and Chief Financial officer for M-Net and SuperSport International Holdings Limited and General Manager Finance at the South African Broadcasting Corporation.
Could there be any conspiracy of market closures which does not allow any other player in the industry forcing them to fail? Could we say all these executives were incompetent or failed to see it coming.
If there were major mistakes, what were these?
The business in its own right is purely profitable, but why do all players keep failing.
While we still at that, can someone please explain why Kwese could not look east on their decoders when other content satellite providers have been traditionally getting content from these satellites.
News filtered to us suggested that Kwese and other decoders were blocked from getting satellite signals from these feeds, but there is more to mere pointing direction and satellite sources.
Someone must begin talking and we are knocking these doors.