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Econet Blames Failure Of Kwese On Zim Economy

   

As typical, Econet put up big notices announcing the official shut down of Kwese TV, their attempt at the Pay TV landscape. The media release is signed by the Econet Wireless CEO himself:

Is it really about Zim economy?

No, the issue is not just about Zim. Kwese TV is dead, Econet Media, the company which operated the service is now under administration because of debts they can’t meet. This really has nothing to do with Zimbabwe but a problem with a lack of appreciation of the video/television industry and value chain. This was also stated by one of the more successful internet entrepreneurs on the continent, Jason Njoku.

Failure is good even for Econet

Instead of coming up with a spin about how Kwese was a victim of the Zimbabwean economy, Econet must look failure in the face, admit it, accept it and learn from it. To point towards ‘external’ factors is both arrogant and dangerous. The Econet group continues to struggle with businesses built on the internet as a platform. It will be good for them if they acknowledge this weakness. Perhaps they will rise above it if they do.

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