Kwese is reportedly failing to honor its financial obligations to its partners for the media rights of the upcoming 2018 World Cup, UEFA Euro 2020, European qualifiers and the Nations League. This is according to a report by media rights lister, TV Sports Markets.
The pay-television company has been on a drive to dethrone DSTV as Africa’s leading media content provider. Last year it even competed with Multichoice, DSTV’s parent company for the 2018 World Cup broadcasting rights but ultimately they both won the rights.
The TV Sports Markets’ report went on to list National Basketball Association (NBA) and ESPN as other rights holders to whom Kwese TV owes financial obligations.
This setback can be attributed to Kwese’ massive expansion in many areas ranging from sports content to movie content that is consuming and stretching its financial resources. Consequently, breeding unexpected cashflow problems.
Joseph Hundah, Econet Media Chief Executive confirmed this by stating that Kwese’s portfolio of sports rights had “required more investment than initially forecast”.
Apart from investors funds, Kwese has still relatively few subscribers to generate enough revenue to self-fund it’s expansion activities since it was introduced two years ago. Kwesé is thought to have 120,000 subscribers across the 13 territories in sub-Saharan Africa in which it currently operates.
One source quoted in the report said this year Kwese has already missed payment deadlines in January, February and March. So now the rights holders are waiting for payment by the end of April in line with Kwese’s promise.
But there is a glimmer of hope for Kwese because its partners seem to be responding favorably to its situation. And it seems like this time it will eventually pay its dues. Hundah says:
To ensure transparency during this process we have been in continuous communication with our partners who remain extremely supportive and have shown great belief in our business…..We do believe the money will come through
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15 comments
Econet might be giants in Zim coz of poorly run and corrupt organisations but DSTV is run 100% efficient. Why they are Africa’s Satellite Giants.
Plus Kwese don’t have Giants like Vodacom or MTN or other wealthy south african companies sponsoring!!
We would have really loved to receive high promised viewing lates of content from kwesetv. Please arrange to square the payments for the sake of trustworthy. Reputation matters
So you say Strive who is now a billionaire can fail to pay for rights. Really seriously
If he kept using his own money to bail the company out he wouldn’t be a billionaire for much longer. Big entities like this are not run like tuck-shops. There is a business model and the money for investments has its specific places where it’s meant to come from. Amazon has NEVER made a profit do you see Jeff Bezos throwing his money in – yet he is the richest man in the world. Plus being a billionaire doesn’t mean he literally has billions sitting in his bank accounts.
This is okay for business in its early stages. I beliebe and know they will soon get the right combination code to get things more stable. Im not surprissed its too early to tell if you saw their finacial statements from their Lesotho business plan for example 2nd year was not that profitable anyway. So lets hold on a second. Business that change lives dont sink that fast. hahah
this game favours established players
just like what Econet and liquid do to smaller sips and networks is what’s happening here. so kwese is still viable and if it can reach 250000 or at least 200000 subscribers then it can attract other investors to jump in. Dstv should keep the momentum cz kwese is scary since its reaching a moment where it has to evolve in some way and requires less funding or restrictions that Dstv may face.
this game favours established players
just like what Econet and liquid do to smaller sips and networks is what’s happening here. so kwese is still viable and if it can reach 250000 or at least 200000 subscribers then it can attract other investors to jump in. Dstv should keep the momentum cz kwese is scary since its reaching a moment where it has to evolve in some way and requires less funding or restrictions that Dstv may face.
They need to create more low price packeges to attract more customers they have to much usless religious channels than music sports and movies no audios channels pls kwese u need to style up
No action movies.few local channels and music channels but monthly fees is high compere to ur compititors we need atleast 3or4 difrent packeges accoding to our pockets and choice not only single packege
Kwese lacks sport compared to Dstv.On news and current affairs they are coming up.Most people like sport,improve on that one and people will buy Kwese Decoders,plus you must have almost 4 or 5 different bouquet s,so that people have choice.Another area is subscription should last a month NOT seven days as you do for some.
If you look at the rate of Kwese penetration with its age you will see its on the right path
I think if kwese improves on sport it will chip in a lot of subscribers, since a lot of people like sports especially football ie English premier leagues, and also it must accommodate different packages on subscriptions….
Free watch English Premier League, La Liga,Ligue 1,UEFA,FIFA(world cup), German Bundesliga,NBA,FI,Golf…all Sport live 24/7 with HD quality in africa market:
Canal reunion 16E–OK
Parabole reunion 16E–OK
TVSAT 16E–OK
See Afrika 16E—OK
Startime 5E–OK
Canal Digital 0.8W—OK
UPC Direct 0.8W—OK
Digi tv 0.8W—OK
Yes SD 4W—OK
Viasat HD 4W—OK
France sat with beinsport 5W—OK
Bis tv 5W—OK
Mediasat 5W—OK
Hispasat 30W—OK
ART 7W—OK
Viasat HD 4E—OK
Discovery channels 4E—OK
Kabelkioask HD 9E—OK
MTVA 9E—OK
Xtra HD 9E—OK
NC+ 13E—OK
POLSAT WITH VOD 13E—OK
RAI HD 13E—OK
BIS TV HD 13E—OK
SRG HD 13E—OK
Viacom media 13E—OK
Eutelsat ( Eurosport ) 13E—OK
Telespazier 13E—OK
Globelcast 13E—OK
Hayat tv 16E—OK
Antiksat HD 16E—OK
Mtel HD 16E—OK
Pink sat 16E—OK
Max tv 16E—OK
Sky Germany 19E—OK
Movistar 19E—OK
HD+ 19E—OK
ORF 19E—OK
Austriasat 19E—OK
M7 group 19E—OK
Canal Digital 23.5E—OK
Skylink 23.5E—OK
Sky uk SD 28.2E—OK
Tricolor 36E—OK
NTV 36E—OK
Palris 39E—OK
Bulsatcom 39E—OK
Dsmart 42E—OK
PowerVU channel pacakge—-OK
Biss channel pacakge—OK
Tandberg channel pacakge—OK
Multi-stream channel pacakge—OK
yooo as Zimbabweans we true love kwese but n unfortunately it is failing to stream live soccer to its clients,,truely speaking soccer esp laliga,EPL,and uefa has take a gigantic audience across the worl and ur failure to secure these u can’t compete with dstv plizzzz,,, pliz do not be antagonists wth dstv inorder to gain their confidence yuuuu tipei bhora next season you will succeed…