Kwesé parent company up for sale

Econet Wireless Ltd. of Zimbabwe has put its media unit up for sale after saying earlier this month it would be closed because of a shortage of foreign currency in the country.

Ernst & Young Ltd. said in a newspaper advertisement on Friday that it will oversee offers for all or part of the company’s shareholdings in businesses in Botswana, South Africa, Zimbabwe, Lesotho, Zambia, Nigeria, Rwanda, Tanzania, Uganda, Malawi, Mauritius, Ghana, Kenya and Dubai.

Econet Media, which operates under the brands Econet Media and Kwese, runs businesses that offer satellite broadcasting, free-to-air television and digital distribution of media content.

The Kwesé brand has come under fire in recent weeks after the Kwesé Play service suddenly stopped working.

Kwesé since announced that it has liquidated Kwesé Play after Roku refused to reactivate the service on its custom-built Kwesé Play media players.

Now read: Why ICASA gave Kwesé TV a free-to-air licence

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Kwesé parent company up for sale