The unique service, known as Kwese TV, will offer exclusive sports and entertainment programming to African markets, London-based Econet founder and chairman Strive Masiyiwa said.

“Our new business will be built around Econet’s core capabilities of satellite communications, fibre optic networks, and mobile services,” he said.

“We believe African consumers must have access to premium and exclusive TV programming at a price that is value for money.”

Econet’s plans to roll out a pay–TV service were subject of persistent rumours in the past three years, but top officials had denied the earlier reports.

Kwese TV will be accessed through a wide-range of tech devices, a concept known as “multi-screen.” This means one can watch programmes on traditional TV, computer, smart phone, a tablet computer, to name a few gadgets.

He could not go into detail as to when and where the service will be rolled out, but added he will make further announcements later on.

Econet owns the fibre optic company Liquid Fibre, arguably the largest builder of terrestrial fibre in Africa.

He added: “Having infrastructure is one thing, but Kwese TV’s success will depend on our ability both to acquire and also to develop new, high-quality and unique programming at an affordable price.”

The diversified telecoms group has operations and investments in Africa, Europe, South America, North America and the East Asia Pacific rim.