Africa’s largest pay TV provider MultiChoice lost nearly 40 percent of its total subscriber base in Zimbabwe in the year ended March 31 as economic uncertainties prompt consumers to cut back on spending.

MultiChoice is a South Africa based company that operates the DStv Satellite Television service, a major pay-TV service with about 20 million subscribers in some 49 countries in Africa.

According to MultiChoice, the company lost 92,000 subscribers in Zimbabwe due to an economic crisis which is characterized by hyperinflation, a liquidity crisis and chronic power outages.

“In Zimbabwe, the current hyperinflationary economic environment and lack of U.S. dollar liquidity caused significant pressure on consumers, while severe drought-related electricity shortages of up to 18 hours per day in the country negatively impacted on the demand for pay TV services,” MultiChoice said in a statement on Thursday.

MultiChoice said it still has 98,000 active subscribers in Zimbabwe.

Zimbabwe is experiencing its worst economic crisis in a decade. The local currency, Zimbabwean dollar, has plummeted on the black market, and year-on-year inflation stood at about 765 percent in April, according to official statistical agency ZimStat.

The World Bank estimated that the southern African country’s economy will shrink as much as 10 percent this year. Enditem

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

Previous articleMozambique resumes cabotage service to boost economy
Next articleZambian official hails Chinese company for heightening COVID-19 preventive measures
Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.


Please enter your comment!
Please enter your name here