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
(155 VIEWS)
The role of social media on how people get their news in Zimbabwe is being…
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…