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

   
4 comments

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

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The list tells a story of a business which was well-spread across Africa. Consequently, it serves to confirm that Kwes√© 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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Comments 4

Imi Vanhu Musadaro
one year ago

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
one year ago

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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    Caleb Mutsumba
    one year ago

    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
one year ago

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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