MultiChoice allays job loss fears despite competition

MultiChoice Kenya has allayed retrenchment fears even as the company faces stiff competition from online streaming platforms.

While releasing its socio-economic impact report yesterday, the South-Africa based company reiterated that the rise in entertainment streaming sites such as Youtube and Netflix will not affects its workforce since internet penetration in Kenya is still low.

The firm had made a shock announcement in June indicating that it would lay off more than 2,000 staff in its home market, which sent shockwaves to employees at its other operations across the region.

"The rise of streaming sites like Netflix and many others have not led into the drop of our revenues and services. Instead, we are seeing the company’s growth by the day,” said MultiChoice Head of Public Relations and Communication Philip Wahome.

The firm noted that the report by Deloitte estimated that it had pumped Sh57 billion into the Kenyan economy since 2015.

“The report provides an overview of the impact that MultiChoice has on both internal and external stakeholders and places the company in the context of the entire Kenyan economy while demonstrating the success of the business over the years,” said MultiChoice acting finance manager Ruth Omondi in a statement.