Econet Media up for sale

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The Zimbabwe economic crisis looks like claiming a major victim. African telco giant Econet Wireless is putting its Econet Media broadcasting and news unit up for sale.

One of the outlets is Kwese TV. Earlier in August the company said it would be closed because the shortage of foreign ‘hard’ currency in Zimbabwe.

Ernst & Young put advertisements in newspapers last week, and said it would supervise any sale of the Media division. It has operating units in Botswana, South Africa, Zimbabwe, Lesotho, Zambia, Nigeria, Rwanda, Tanzania, Uganda, Malawi, Mauritius, Ghana, Kenya and Dubai.

Kwese has been broadcasting free to air TV via satellite and digital television.

However, it seems the decision to sell will not affect Kwese Free TV, a service which has been approved to start transmitting a bouquet of channels in South Africa.


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