Foreign currency woes force Kwese to terminate its services Zimbabwe

Kwese TV Satellite is shutting down its services in Zimbabwe with effect from August 5, 2019 and is offering compensation to its customers.

This was reviewed in a statement signed by Econet Media Chief Executive Officer (CEO) Douglas Mboweni.

 “We regret to announce the discontinuation of the Kwese TV Satellite Service with effect from August 5, 2019,” Mboweni said in a statement.

He added Kwese is closing down its Satellite services because of a structural shortage of foreign currency in the country which the service needs to buy content.

The third party content providers, on whose content we rely, require payment in foreign currency. With the prevailing economic conditions in Zimbabwe. and the current business operating environment – characterized by an acute shortage of foreign currency – sustaining Kwese and the Kwese Satellite Service service was no longer viable,” Mboweni stated.

Econet is offering compensation to Kwese Satellite service customers.

Customers that had subscribed to the service in advance can redeem their credits by dialling •119#”.