Just a few days after the swearing-in of President Mnangagwa things have taken a turn for the worse, with foreign currency virtually vanishing even on the black market. And Stanbic Bank has reacted to this by effectively stopping the processing of DSTV payments owing to the prevailing adverse economic conditions. In a text message sent out to its customers, Stanbic said;
Dear Customer, please note that we are no longer facilitating DSTV payments due to the prevailing economic conditions.
I think Stanbic Bank has certainly gone a little too far. Rather than stopping the processing to DSTV payments altogether, why didn’t it just ask its customers to bring US dollars to subscribe for their DSTV?
Nonetheless, Stanbic is not the only bank that has taken this route of suspending the facilitation of DSTV payments, Cabs and Barclays did this some time ago.
4 comments
Yeah ,actually as customers we feel shortchanged ,but on business side they the owners prioritize more on sustainability than compromising ,so in a nutshell they are following the suite started by other banks which has since stopped wayback Dstv payements in their operations.
If Stanbic was still providing this service on behalf of DSTV, its one of the few ones which were still doing that. Most banks abandoned payment of DSTV before the new dispensation. Dont lie to the world about DSTV. They want US dollar even before Mnangagwa became the President. Not “owng to bad prevailing economic conditions”….. Lies
The banks have to pay DSTV in USD and due to shortages of forex “bad prevailing economic conditions”, the banks are now unable to pay, because of the worsening economic environment.
Its not about Stanbic and politics, it’s about the forex shortages. The causes of the shortages may be politics but, this article is not talking about that!
Well I think that all backs and other institutions should just stop processing DStv payments…. This would put pressure on DStv to make their own work around…I mean we can survive without DStv for 3 months till they came…. It’s not an essential