conditions by seeking the views of 100 senior executives across all sectors of the economy. Health Secretary Pascoe Kase has thanked the visiting Chinese hospital ship. But on Thursday, ZSE investors woke up to another challenge as stockbrokers failed to access the markets automated trading platform after its Dubai based software supplier, Infotech, withdrew support services due to non-payment. The Zimbabwe Stock Exchange is the latest institution in the southern African country to be hit by critical foreign currency shortages. Sign up to Fin24's top news in your inbox: subscribe TO FIN24 newsletter, follow Fin24 on, twitter and. Unbundling the MultiChoice Group allows Naspers to not be tied down by the companys performance as it will not receive any cash proceeds as part of the unbundling but will remain major shareholders. We will advise our customers when new payment options become available. The ZSE and almost all the players in the market have not been getting allocations for software licencing, with the ZSE saying it believed it was important to share the information, "as we are all exposed to foreign currency shortages".
Shortages of foreign currency saw Stanbic Bank becoming the latest financial institution, among many, to suspend payments for the DStv satellite service.
MultiChoice Zimbabwe public relations manager Elizabeth Dziva said after reviewing the payment options in the country, they would advise customers when new payment options would be available for DStv.
Also, foreign currency shortages in Zimbabwe seem to not be slowing down as sources for forex generation such as exports and diaspora remittances continue to remain weak.
Source: Forex shortage hits Multichoice The Standard September 23, 2018 multichoice Zimbabwes holding company, Naspers, says Zimbabwe is one of three countries holding cash balances and trade receivables of nearly 131 million for its financial year ended March 31, 2018 due to the limited availability.
The Zimbabwe Stock Exchange is the latest institution in the southern African country to be hit by critical foreign currency shortages.
Last week, Naspers announced it would be unbundling the MultiChoice Group, its subsidiary and parent company of devise forex change Multichoice Zimbabwe to list it separately on the Johannesburg Stock Exchange (JSE) in the first half of 2019 subject to regulatory approvals. At, cash balances and trade receivables of US131 million, held in Angola, Zimbabwe and Mozambique, remain exposed to weakening currencies and this is a 55 reduction on last years balance. This will leave the MultiChoice Group to assume the full risk of operating in Zimbabwe with the non-remittance of forex remaining a big challenge. Only Nedbank Zimbabwe, NMB Bank and Ecobank are processing DStv subscription payments but with the prerequisite that a DStv customer has to be a client of any one of these banks to access the service. Shortages of foreign currency saw Stanbic Bank becoming the latest financial institution, among many, to suspend payments for the DStv satellite service. To these three constraints, I would add a fourth very real constraint government arrears, that is, the non-payment of debts owed to business by the government. Commercial borrowing like the selling of government bonds that you plan to do, presents a partial solution. BY tatira zwinoira, naspers is a broad-based multinational internet and media group headquartered in South Africa that operates in Zimbabwe through MultiChoice Zimbabwe, which has its flagship offering, DStv. Deputy Prime Minister, you acknowledged these constraints in your Budget speech last December. In emailed responses to questions from Standardbusiness before the announcement of the unbundling on how challenging operating in Zimbabwe was through MultiChoice Zimbabwe, Hattie Carne, on behalf of communications for Naspers, declined to comment.