Zimbabwean business mogul Strive Masiyiwa has been denied a licence to operate free-to-air television broadcasting in South Africa.
According to TechCentral Hola Media, one of whose principal backers is Liquid Telecom, the pan-African fibre telecommunications firm controlled by Strive Masiyiwa’s Econet Group, was one of the five companies whose licence application was rejected by the Independent Communications Authority of South Africa.
TechCentral said the applications were rejected on a number of grounds, including foreign shareholding, ownership by historically disadvantaged individuals, corporate status and finances.
Masiyiwa, who owns Zimbabwe’s largest mobile phone operator, Econet, launched a pay TV service called Kwese TV last year.
Kwese is a Shona word, the majority language in Zimbabwe, which means Everywhere
Masiyiwa, still considered Zimbabwe’s richest man, has seen his fortunes tumble falling out of the top 50 richest men in Africa.-Insider