Econet Puts Media Unit up for Sale After Closure Announced

(Bloomberg) -- Econet Wireless Ltd. of Zimbabwe has put its media unit up for sale after saying earlier this month it would be closed because of a shortage of foreign currency in the country.

Ernst & Young Ltd. said in a newspaper advertisement on Friday that it will oversee offers for all or part of the company’s shareholdings in businesses in Botswana, South Africa, Zimbabwe, Lesotho, Zambia, Nigeria, Rwanda, Tanzania, Uganda, Malawi, Mauritius, Ghana, Kenya and Dubai.

Econet Media, which operates under the brands Econet Media and Kwese, runs businesses that offer satellite broadcasting, free-to-air television and digital distribution of media content.

To contact the reporter on this story: Godfrey Marawanyika in Harare at gmarawanyika@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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