Econet Invites Bidders To Buy It’s Shares In 29 Media Businesses Across Africa

Alvine Chaparadza

23 August 2019

Econet has taken another step that confirms it’s exit from the media business. In a full-page ad run today Ernst and Young is inviting investors to provide offers for Econet Media’s equity in 29 businesses spread across 14 countries.

Image credit: newZwire

The list tells a story of a business which was well-spread across Africa. Consequently, it serves to confirm that Kwesé TV’s failure was not down to Zimbabwe’s economic turmoil given that Kwese was also present in countries that have relatively well-perfoming economies.

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4 comments

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Imi Vanhu Musadaro

24 August 2019 10:06

Upstream white label suppliers had a fallout with Econet. Building a streaming platform from scratch was impossible, by this stage.

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Tawanda

24 August 2019 10:30

It’s the administrator and not Econet selling the shares. Once a business goes into administration, the shareholders and directors have no say in decisions thereafter.

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1. Caleb Mutsumba
  
  24 August 2019 14:45
  
  Adminstrator? How would that play out? That all these entities in all these jurisdictions were in receivership…. or something…under one “administrator”!
  
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Brian

24 August 2019 11:32

I remember Econet blaming Zimbabwe’s economic challenges. Refer to the link https://www.techzim.co.zw/2019/08/econet-blames-failure-of-kwese-on-zim-economy/ . So you telling me kuti Econet Media had decided to invest allover and left Zimbabwe? They just wanted to collect the money and use it somewhere else?

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