by Thinus Ferreira
MultiChoice Ghana has hiked subscription fees by a whopping 19% in February 2023, less than a year after last raising prices from April 2022, blaming Ghana's deteriorating economy marked by a dramatic currency devaluation and massive spike in fuel prices.
MultiChoice Ghana managing director Alex Okyere, said the pay-TV operator's price hike in the West African country, which it said was an "average 19% increase" from February 2023, "is significantly below what is required to cover the increase in our cost of operations with inflation currently at 54.1%".
MultiChoice has hiked prices in 2023 in countries like South Africa, Kenya, Uganda and from May also in Nigeria.
In addition to blaming Ghana's deteriorating economy for the forced price hike of an average of 19%, MultiChoice Ghana blames the country's deteriorating currency, and fuel prices as well.
"A significant portion of our content and satellite costs are sourced internationally and paid for in foreign currencies. In April 2022 when we last adjusted prices, the Ghana/US dollar rate was 7.54, versus the current rate of 12.39."
"Since our last increase, fuel prices have increased by 58.8% and electricity tariffs have increased by 65.24%. Our digital terrestrial television (DTT) service runs from 14 cell sites that significantly use electricity and fuel to power the various equipment needed to broadcast our content," MultiChoice Ghana said.