BY ESE DIBEBI
There is an increasing fear in several quarters that the recent increase in prices of DStv services in South Africa by MultiChoice is sure to translate into price increases in Nigeria.
The new prices are expected to kick off on April 1, 2016 sees an 8% and above increase for subscribers.
MultiChoice has cited the recent weakening of the host nation’s currency against the US dollars. The South African Rand has reduced about 29% in its value over the past year.
According to Nairametrics, there is a possibility that Nigeria may be affected by this price hike as the Naira has been depreciating against the dollar due to scarcity, amid the tightening control of the Central Bank.
South African countries have been feeling the effect of the currency crisis, as Truworths exited Nigeria last month because of the government’s import restriction policy, while Clover Industries, a food and beverages company also said it will stop investing in Nigeria because of the currency crisis, Nairametrics reports.