#MondayBlues: DStv Under Pressure To Shutdown In Zimbabwe

Zimbabweans may soon kiss good bye to DStv if the current cash crisis remains the same as all service providers refuse to carry the foreign burden upon them amongst as our Nostro bank balance continues to go south.

 

Indications are that service providers who are receiving money from DStv customers are finding it difficult to pay multi choice South Africa, as the RBZ continues to tighten screws on foreign currency payments.

 

Econet and Telecel recently joined the list of companies who no longer accept DStv payments as they are failing to pay the South African based company due to RBZ delays and stringent rules.

 

However Econet is trying another way round by introducing the Ecocash rand account, which hopefully , is immune from the bond notes and may settle directly if treated separately.

 

Dstv does not have any head quarters in Zimbabwe, they are merely agents, and eventually any payment made to any branch or store is only going to an agent , which ultimately must remit the payment.

 

However the payment is under siege as the RBZ does not priorities DStv payment as high priority, as Zimbabweans continue to “waste” the scarce foreign currency to entertainment .

Most bank are reportedly pulling the plug on the DsTV settlement as they are not able to get the money out to the recipient which ultimately may cause customer disconnection if not settled.

CBZ, a government controlled bank has taken over the burden to settle the DTV payment ,in a move seen by many as damage control and hopefully, they will handle the settlement matrix.

 

Being a DSTV agent comes at a great commission , but it has proven that the commission is no longer worth the headache as financial institutions are now worried about their reputation if the settlement does not happen.

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