Econet Media puts assets up for sale
Econet Media and all its businesses across Southern Africa and Dubai have been put up for sale, including its 20% stake in Kwese Free TV, which was recently granted a commercial free-to-air TV licence by South Africa’s media and communications regulator.
The company intends selling its assets in 29 businesses in South Africa, Botswana, Nigeria, Ghana, Dubai, Kenya, Malawi, Lesotho, Rwanda, Tanzania, Uganda, Zambia and Mauritius.
They include Econet Media Botswana (49%), Kwese Free TV Botswana (35%), Econet Vision (100%), Econet Media Ghana (70%), Modern African Productions (100%), Kwese Free TV Ghana (100%), Econet Media Kenya (70%), Kwese Free TV Kenya (70%), Econet Vision Lesotho (80%), Kwese Support Services (99% &40%) and Econet Vision Mauritius (100%).
Other businesses are Kwese Play (100%), Kwese Free TV (100%), Econet Media Namibia (49%), Deque Media Services (49%), MAP Nigeria Productions (100%), Econet Media Support Services Nigeria (49%), Kwese Support Services Rwanda (90%), Kwese Free TV Rwanda (90%), Kwese Media SA (100%), Econet Media Tanzania (49%), Kwese Support Services Uganda (99%), Omni Broadcast (70%), Platinum Communications (25%), Econet Media Support Services Zambia (80%) and Econet Media Zambia (25%).
Although there is no clear indication whether the proposed sale of Econet’s stake in Kwesé Free TV will affect its TV licence in South Africa, the company has put up an offer for sale that reads: “Offers are invited for the purchase of the company’s shares held in the above mentioned subsidiaries/associates or the business activities.”