South Africa’s Multichoice digital platform is, as expected, raising their subscription prices for the second time this year in an attempt to compensate for the falling value of the Rand and other African currencies against the US dollar.
Typical is Multichoice Zambia which is hiking the price for viewing DStv and terrestrial GOtv subscription fees by around 30 per cent on November 8th.
The Multichoice Zambia statement said: “From April 1st 2015 until now, the Zambian Kwacha has fluctuated from just below K7.7000 to K12.3900 to the US dollar, averaging a 61 per cent increase.
“With the price increase being pegged at 30 per cent only, it means MultiChoice’s increase is still well below the inflation rate and that the business has over this time absorbed the foreign exchange difference for the subscriber,” states the Press release.
Such is the volatility of some African currencies that Multichoice is warning subscribers that it might have to resort to quarterly increases in future.