MUVI television has announced a revision of its subscription fees with immediate effect in light of the volatile foreign exchange rate.
According to company General Manager, Costa Mwansa, the continuous depreciation of the kwacha against the US dollar has negatively impacted the media institution’s business.
“The price adjustments affect all packages. Muvi Standard, which was previously at K40 per month will now be K90, while Muvi TV Plus has gone up to K125 from the previous K90,” Mwansa said.
He said the station was importing services and products such as movies priced in US dollar.
He explains that the company has in the past not increased subscription fees despite the depreciation of the kwacha against the dollar.
“It is no longer possible to avoid a price adjustment on subscriptions in the current circumstances where the Kwacha has lost by almost 100 per cent,” said Mwansa.