Connect with us

Brands/Products

Weak Naira Impacts Multichoice Subscription Revenue

Published

on

MultiChoice

By Adedapo Adesanya

MultiChoice Group, owner of DSTv and GOTv, saw its subscription revenue grow by 2 per cent on an organic basis but on a reported basis, subscription revenue declined by 7 per cent due to a weaker Nigerian Naira, which affected the disposable incomes of consumers.

In a statement shared on Wednesday, the South African firm delivered a 26 per cent trading profit margin in its home country, while increasing trading profit in the Rest of Africa by 4 per cent, despite very challenging macro-economic conditions.

The active subscriber base for the company declined to 8.1 million, but it claimed effective retention efforts contributed to an improved subscriber mix.

The firm said overall active subscribers declined by 9 per cent, mainly due to a 13 per cent decline in the Rest of Africa business, with Nigeria, Angola and Zambia most affected, while the South African business was more resilient, declining by only 5 per cent.

Given the challenging consumer environment, Multichoice Group’s revenue increased by 3 per cent on an organic basis. However, due to weaker local currencies and consumer pressure, reported group revenue declined by 5 per cent to 56.0 billion Rand (ZAR)

The group’s trading profit across its verticals increased 24 per cent on an organic basis, despite the additional 1.4 billion Rand investment in Showmax to drive future growth.

“After factoring in the ZAR4.5bn impact related to foreign exchange weakness, reported trading profit declined by 21% to ZAR7.9bn,” the company said.

The company said its business in the Rest of the African market faced the toughest macro-economic conditions in its core markets with high, double-digit inflation and extreme depreciation of local currencies, (especially in Nigeria, Angola, Kenya and Zambia) which impacted Dollar revenues by 32 per cent.

In January this year, its fintech arm, Moment, began processing payments for DSTv, reaching a milestone of processing $85 million in payments in early March 2024.

So far, Moment has processed local and cross-border card payments in 44 Showmax markets and is already accounting for more than 20 per cent of Group’s payment volumes. It also joined real-time payment networks in 18 countries, including South Africa, and is currently piloting instant payment and account activation for DSTv.

The business raised an additional $22 million of funding, with MultiChoice contributing $8 million. As a result, Moment is now valued at $82 million and MultiChoice owns a 26 per cent stake.

The linear video entertainment business remains the mainstay of the group’s operations and provides a valuable base from which to expand its service offerings.

The group’s new streaming, interactive entertainment, fintech and connectivity services are having a positive impact on the business, and more importantly, on the lives of its customers.

“Going forward, the group will focus its efforts on scaling Showmax, Moment, and SuperSportBet, as well as on driving growth in insurance (NMSIS), DStv Internet and DStv Stream,” the statement added.

Speaking on the result, Mr Calvo Mawela, MultiChoice Group CEO said, “Four years after setting out a clear strategy of building Africa’s entertainment platform of choice and investing in services to support a broader ecosystem, our three core segments are now fully operational: video entertainment, interactive entertainment and fintech.

“Our focus now shifts to building on these solid foundations to drive growth in these new areas, and on further enhancing business efficiency across our operations.”

“While we are not alone in feeling the challenges of a weak consumer environment, I am proud of the speed and effectiveness of the team in implementing strategic actions to retain customers, safeguard cash generation and drive cost savings which surpassed our targets,” he added.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Brands/Products

Dangote Salt Gives Trucks, Cash Credits to Customers

Published

on

Dangote salt customers trucks

By Aduragbemi Omiyale

Gift items worth millions of Naira were dolled out to customers by NASCON Allied Industries Plc, otherwise known as Dangote Salt.

The company splashed trucks and cash credits to 50 outstanding customers at its 2025 Customers Dinner and Awards Night in Abuja on Thursday.

One of the beneficiaries, Mr Ali Balarabe, who got a 20-ton truck and cash credit, expressed appreciation for the recognition, noting that it reflects the company’s commitment to excellence.

Mr Balarabe further pledged to sustain his loyalty and continued support, promising to remain a steadfast and devoted customer in the years ahead.

Other customers who received truckload awards and cash credits included Mr Ibrahim Achida, Muabsa Integrated Services, Fanisau Enterprises, Idris Saleh Nigeria Limited, Sani Adamu Trader, and GIA Global Concept, among others.

The president of Dangote Group, Mr Aliko Dangote, in his remarks, thanked consumers for their loyalty, and also commended the company’s board, management and staff for their unwavering dedication, professionalism, and consistent contributions to the organisation’s growth and sustained market leadership.

“Recognising customers is not just good relationship management – it is good business. It sends a clear message to our people that customer service is truly one of our core values.

“Looking ahead, we will continue to invest in brand equity, supply chain efficiency, sustainability, and digital capabilities. But these investments only create value when they are aligned with customer realities. Your continued engagement and feedback remain critical,” he said.

In his speech, the chairman of NASCON Allied Industries, Mr Olakunle Alake, said, “As a quoted company, we are accountable to shareholders, regulators and the investing public. But the confidence of the market is ultimately rooted in the performance, and market performance depends on customers who believe in our brands.”

The Managing Director of the firm, Aderemi Saka, stated that the central message of the awards night was to celebrate and appreciate the company’s customers, noting that the organisation’s success is closely tied to the growth and prosperity of its customers.

Continue Reading

Brands/Products

IVI PR Opens Registration for IviTrybeSage Masterclass

Published

on

IviTrybeSage Masterclass

By Modupe Gbadeyanka

Lagos-based strategic communications firm, IVI PR, has called for registration for its exclusive masterclass designed specifically for the modern PR professional known as IviTrybeSage.

A statement from the company said registration would remain open until capacity is reached. Given the exclusive nature of the IviTrybeSage programme, spaces are strictly limited to ensure an intimate, high-impact learning environment.

Interested professionals can secure their spot by completing the form via https://forms.gle/sqvTe1sNM4ure8iJ7.

Business Post gathered that the curriculum will cover brand personality and storytelling, public relations strategy, media relations, crisis management, social media and digital PR, influencer marketing, and more.

Participants will learn how to move beyond traditional press releases into the realm of strategic influence and creative storytelling, transitioning from foundational PR tactics towards the sophisticated demands of today’s global market.

IviTrybeSage is open to fresh graduates seeking the skills necessary for an upward trajectory in strategic communications, as well as entry-to-senior level PR and marketing practitioners, corporate communications executives, and ambitious agency leads.

In an era where the media landscape shifts daily, IviTrybeSage serves as a bridge between academic theory and real-world PR and communication demands. The programme focuses on providing practical, cutting-edge skills to create a pipeline of highly competent talent.

The PR industry is a dynamic field defined by rapid digital transformation and shifting audience behaviour. For PR practitioners to transition from mere messengers to high-value strategic partners, continuous skill acquisition is imperative.

Today’s practitioners must master a diverse toolkit that includes data and trend analysis, crisis management in the age of ‘cancel culture’, and strategic storytelling.

By proactively sharpening these skills, PR professionals ensure they can navigate complex algorithmic changes and evolving social trends, allowing them to protect brand reputations with precision and command a well-earned seat at the executive table.

The chief executive of IVI PR, Mr Nosa Iyamu, while commenting on the initiative, said, “In an era of noise, it is imperative that clarity is prioritised through strategic communication. The industry is evolving at breakneck speed.

“IviTrybeSage isn’t just a training session; it’s a community for those ready to lead the conversation rather than just follow it. It is for those who want to understand how to drive clarity rather than join the bandwagon of those who merely sell noise.”

Continue Reading

Brands/Products

PR Firm Wimbart Creates Subsidiary for Africa’s Early-Stage Companies

Published

on

Maria Adediran Wimbart Lite Jessica Hope Wimbart CEO

By Adedapo Adesanya

Wimbart, an award-winning Public Relations agency specialising in business and technology sectors across Africa and emerging markets, has launched a subsidiary called Wimbart Lite, designed specifically for pre-seed and early-stage startups that have raised under $1 million.

To lead the new division, the agency has appointed Ms Maria Adediran, Associate Director and founding team member, as Head of Wimbart Lite.

Launched in 2015, Wimbart has built a strong track record across African markets, including Nigeria, Kenya, South Africa, and Egypt, specifically helping companies navigate the continent’s most complex news cycles.

As the African tech ecosystem continues to mature, competition for attention has become increasingly intense. In this environment, clear and consistent communication across online, broadcast, and print media is no longer a luxury for startups but a business necessity.

Wimbart Lite responds to this need by bridging the communications gap for early-stage companies. It provides focused, fast-turnaround support for startup teams, venture capital portfolios, and global partners seeking credible, well-positioned storytelling that cuts through a crowded media landscape.

Specifically curated for African companies that have raised under $1 million, Wimbart Lite adopts a service-led, menu-based approach built around three core strategic routes. Each route is designed to meet the communications needs of early-stage businesses as they scale visibility, credibility, and investor confidence.

The milestone announcement pack focuses on press releases and strategic media outreach to support key moments such as product launches, partnerships, and major company updates. This ensures that important developments are clearly articulated and positioned to reach relevant audiences.

The founder profile pack centres on thought leadership, using op-eds and interview pitching to amplify leadership voices. It helps founders articulate their vision, share category insights, and establish authority within their industries.

The fundraising pack delivers coordinated funding communications tailored to early-stage rounds and venture capital portfolios. It supports clear, consistent messaging during fundraising activities and includes a 15 per cent discount for portfolio companies.

Speaking on this, the chief executive of Wimbart, Ms Jessica Hope, said, “Wimbart was built in the trenches with African tech founders – before the market had fully caught up with their vision. Wimbart Lite has been in development for some time, as a service for early-stage companies who may not require full-blown month-on-month public relations support, but do need to get a news story “out there”.

“Maria is Wimbart’s day one and has grown with the company, and with dozens of African tech start-ups over the past decade; she understands exactly how to turn a good story into something that actually travels.”

With over a decade of experience across consumer and corporate PR, Ms Adediran has led multi-market campaigns for VCs and high-growth companies from early-stage to unicorn, including Andela, M-KOPA, TLcom, and Kobo360. As Head of Wimbart Lite, she will set the division’s vision and lead its growth, overseeing new business and delivery standards.

The new Head of Wimbart Lite added, “I joined Wimbart at a time when African tech was still small enough that a $1M raise felt like a massive milestone for the whole ecosystem. Now that the market has matured, early-stage teams are put under the microscope much earlier. Wimbart Lite exists to turn real work and traction – early milestones, partnerships, and fundraises – into a clear, credible story the ecosystem can understand and trust.”

Continue Reading

Trending