In its first results since being spun off from Naspers, Multichoice reported that subscriber growth across all its operations slowed to 5% year-on-year. It lost almost half its Zimbabwe subscribers in the year to March 2020.
The company says it has 98 000 subscribers still active in Zimbabwe.
According to Multichoice, the company “lost 92 000 (41%) subscribers year-on-year mainly due to general economic collapse: hyperinflation, loss of liquidity, power outages.”
April brought some relief to power outages in Zimbabwe, but the currency crisis persists.
The company says it has R115 million cash in-country.
In May, Multichoice raised its subscription prices in Zimbabwe as it began pushing the cost of VAT on customers. It was the first increase for Zimbabwean customers in four years.-NewZwire