MultiChoice Zimbabwe Headed For Trying Times -Reports
Last week MultiChoice released its first set of financial year results as The MultiChoice Group after the pan-African pay-TV service provider was spun off from the Naspers group. In the financial year results, MultiChoice singled out Zimbabwe and Angola as the two countries with the most severe currency problems that are impacting negatively on the MultiChoice Africa division's business on the continent.
On Monday, the Zimbabwean government announced that it's switching to the "new" Zimbabwean dollar, more than ten years after it became worthless.
Zimbabwe's Minister of Finance, Mthuli Ncube announced on Monday that South Africa's Rand, the American dollar, Botswana's Pula and the British pound would no longer be accepted as legal currencies in Zimbabwe, leaving Zimbabweans with only the Zimbabwe dollar to use as payment for local transactions.
This will now make it even more challenging for GOtv and DStv subscribers in Zimbabwe to pay MultiChoice Zimbabwe for its pay-TV service.
Zimbabwe's foreign currency crisis steadily worsened during the past two years, making it almost impossible for DStv subscribers in the Southern African country to make payments.
In February 2017 Zimbabwe's Reserve Bank clamped down on citizens using foreign currency, explicitly slamming Zimbabwean DStv customers for their "illogical behaviour" of subscribing to and paying for DStv.
Since late-2016 numerous payment options for DStv subscribers in Zimbabwe disappeared with payment processing providers saying that they simply can't continue to process DStv payments.
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