Econet Media, Kwese TV’s parent company has announced the company will be closing down operation after being functional for the last 18 months. This is another failure story in Pay-TV in Africa and especially Nigeria after the demise of the much-publicized TSTV without it never starting.

In a statement as reported by dailynews, Econet’s Media Chief Executive, Joe Hundah said the company will now put all its efforts on three main services – Kwese Free Sports (KFS), Kwese iflix and Kwese Play. He further stated:

“With increased focus on these three services, Econet Media will streamline its direct-to-home satellite television service.

This will see the reduction of third-party channels available on the bouquet, as well as the removal of Kwese branded sports (excluding KFS) and general entertainment channels.”

Speaking further on the new development, Joe stated,

“The broadcaster’s new bouquet will carry FTA, religious and free news channels which will be available to viewers for a minimal fee, as the broadcaster will waive monthly subscription fees.”

For customers who have already made payment to continue or renew their subscriptions for the month of November, a refund will be made. Joe further stated Econet Media is working on its own creation hub, Kwese studios and will invest in developing its own programs giving the platform for African creatives to tell their stories.

“We believe these changes will safeguard the future success of our business as we continue to make an indelible impact on Africa’s media industry.

The revised business strategy will also ensure the Kwese TV continues to remain competitive within the industry.”

DSTV’s stronghold on Pay-TV in Africa is not going away any time soon even with the recent hike in subscription packages.