Brands/Products
MultiChoice Subscriber Base Down 8% to 14.5m, Showmax Active Customers up 44%
By Aduragbemi Omiyale
Worsening macroeconomic and consumer conditions in Africa have continued to have a negative impact on companies operating on the continent, with a prominent pay-TV firm, MultiChoice Group, losing about 8 per cent of its subscriber base in one year.
Details of its financial statements for the 2025 fiscal year ended March 31, 2025, showed that MultiChoice subscriber base went down to 14.5 million from 14.9 million in the previous year, driven by a weak consumer environment across markets as well as preference for alternatives.
However, despite these headwinds, the organisation delivered ZAR3.7 billion in cost savings, well ahead of the revised ZAR2.5 billion target set at the interim stage and almost double the ZAR1.9 billion saved in FY24.
The company said a disciplined approach to inflationary pricing, with increases of 5.7 per cent in South Africa and an average of 31 per cent in local currency in Rest of Africa, also helped to mitigate the impact of subscriber losses and supported 1 per cent year-on-year (YoY) organic revenue growth, influenced by pricing and new product growth.
On a reported basis, revenues declined by 9 per cent to ZAR50.8 billion, primarily due to an 11 per cent drop in subscription revenue, as well as the impact of currency headwinds, and the deconsolidation of the NMSIS insurance business from December 2024.
Trading profit increased by 20 per cent before accounting for the investment in Showmax, the impact of currency weakness and M&A activity.
After incorporating Showmax’s trading losses and ZAR5.2 billion in foreign currency revenue losses, and partially offset by the ZAR3.7 billion in cost savings, trading profit on a reported basis declined to ZAR4.0 billion.
In the period under review, MultiChoice performed well in its video entertainment segment, with new products and services delivering strong growth.
It grew its revenue from DStv Internet by 85 per cent, as KingMakers delivered a 76 per cent growth in constant currency and DStv Stream rose by 48 per cent, with Showmax active paying customers increasing by 44 per cent.
Importantly, the group returned to a positive equity position through a combination of cost savings, a stabilisation in currencies, and the accounting gain on the sale of 60 per cent of its shareholding in its insurance business (NMSIS) to Sanlam.
The chief executive of MultiChoice Group, Mr Calvo Mawela, while commenting on the results, said, “Our performance reflects both the challenges we’ve faced and the resilience of our teams.
“While macroeconomic pressures and currency volatility have weighed on our results, our disciplined execution, cost management and investment in new long-term growth opportunities position us well for the future.
“We remain focused on being Africa’s entertainment platform of choice. Our strategy is shaped by developments in our industry such as changes in technology which are driving shifts in consumer behaviour, as well as the impact of a rise in piracy, streaming services, and social media.”
Brands/Products
Temu Partners Dellyman to Scale Logistics Capabilities Across Nigeria
By Modupe Gbadeyanka
As part of its strategies to aggressively scale its logistics capabilities across key African markets, especially in Nigeria, the fast-growing global e-commerce powerhouse, Temu, has entered into a delivery partnership with Lagos-based logistics startup, Dellyman.
Through this collaboration, Temu customers in Nigeria will experience faster, more predictable, and more transparent deliveries, a critical factor in sustaining the platform’s customer satisfaction as order volumes continue to rise.
Dellyman’s technology-driven approach, spanning rider management, route optimisation, and customer visibility, played a central role in Temu’s selection process.
In the pilot phase, Dellyman completed more than 1,300 deliveries with a 95 per cent success rate, demonstrating its readiness to support large-scale e-commerce operations nationwide.
Founded in 2020, the firm has grown into one of Nigeria’s most reliable same-day and last-mile delivery platforms.
The company recently achieved a 10,000-order monthly delivery milestone in November 2025, contributing to a cumulative total of more than 300,000 lifetime deliveries.
This track record made Dellyman a strong fit for Temu, which is aggressively scaling logistics capabilities across key African markets.
“Our partnership with Temu is a major endorsement of the vision we set out with, to build Nigeria’s most reliable, scalable, and transparent last-mile delivery infrastructure.
“Achieving a 95 per cent delivery success rate during the pilot underscores our readiness to support high-volume e-commerce platforms.
“This collaboration shows that local startups can meet and exceed global standards when given the opportunity,” the chief executive of Dellyman, Mr Dare Ojo-Bello, said.
He further noted that the partnership represents more than operational growth as it signals a shift in how global e-commerce brands view Nigerian logistics capabilities.
“This is not just about fulfilling orders; it is about reshaping perceptions of what Nigerian delivery companies can achieve. We are committed to building the kind of infrastructure that supports international standards, empowers local businesses, and ultimately strengthens consumer trust in the broader digital economy,” he noted.
Mr Ojo-Bello added that Dellyman will continue investing in capacity, fleet expansion, and merchant-facing tools to ensure superior delivery experiences for Temu buyers and other online shoppers nationwide.
Brands/Products
Verve Issues Over 100 million Cards to Customers, Celebrates Milestone
By Aduragbemi Omiyale
Over 100 million cards have been issued to customers by Africa’s leading payments card brand, Verve, across the continent.
This milestone has been described as a powerful symbol of growth, resilience, and the evolving needs of millions of Africans who rely on Verve every day.
The accomplishment has been said to underscore the company’s deep consumer insight, continuous innovation, and unwavering dedication to customer satisfaction.
Verve’s evolution has consistently been inspired by the needs and aspirations of its users. Today, its acceptance footprint stretches across Africa and reaches global markets through strategic partnerships with leading brands, including Google, Netflix, Spotify, AliExpress, Temu, Flywire, YouTube Premium, and others, unlocking broader access to lifestyle, entertainment, commerce, and mobility solutions for millions of cardholders.
“What began as a simple idea, one card designed to empower everyday life, has grown into 100 million stories, 100 million touchpoints, and 100 million reasons to deepen our commitment to delivering secure, seamless, and meaningful payment experiences across Africa,” the Executive Vice President for Group Marketing and Corporate Communications at Interswitch Group, Ms Cherry Eromosele, said at a media briefing in Lagos, where she was represented by the Divisional Head for Growth Marketing (Paytoken and MVNO), Chidi Oluaoha.
Ms Eromosele further noted that the milestone is shared with the broader ecosystem; banks, processors, merchants, regulators, and partners, whose collaboration has fuelled Verve’s remarkable growth.
Most importantly, she celebrated the millions of individuals who carry Verve cards in their wallets and mobile devices, acknowledging that their trust and loyalty continue to inspire the brand’s progress.
With the 100-million-card mark now crossed, Verve is poised to accelerate its expansion efforts, elevate customer experiences, and strengthen its global acceptance network.
Brands/Products
CREDICORP Launches Credit Programme for Easier Acquisition of Phones, Others
By Adedapo Adesanya
The Nigerian Consumer Credit Corporation (CREDICORP) has launched a national digital device credit programme that will make the acquisition of smartphones, laptops, and other essential digital tools easier for working Nigerians.
According to the scheme, which was introduced by the Nigerian government to democratise consumer credit access to Nigeria’s working population, the country’s progress is increasingly driven by access to the tools that help people learn, earn, and participate fully in a modern economy.
Over the past year, CREDICORP has supported thousands of Nigerians to acquire the assets that make daily life easier, from mobility solutions that shorten commutes and increase productivity to renewable energy systems that keep homes and small businesses powered and productive. Each intervention has shown the same outcome: when Nigerians are allowed to access essential tools through fair and responsible credit, their lives improve rapidly.
The new rollout builds on the success of the pilot phase already completed under the partnership. In the first phase, CREDICORP, working through E-Finance Company with technology support from Credlock, enabled over 1,000 Nigerians to access smartphones through affordable credit, many for the first time. The strong repayment performance and the speed of adoption demonstrated both the appetite and the national need for this kind of support.
Via this new phase, CREDICORP is poised to scale the program significantly, targeting over 15,000 Nigerians who will be able to access smartphones or laptops that directly enhance their productivity, income potential, and digital participation.
To deliver this initiative at scale, the organisation is once again working through one of its Participating Financial Institutions, E-Finance Company, with technology support from Credlock, whose intelligent device-collateral system allows for secure, responsible, and efficient access to credit. Together, E-Finance and Credlock will ensure that Nigerians can seamlessly apply for, finance, and collect the digital devices they need, without the heavy burden of upfront payments.
Speaking on the new phase, CREDICORP’s Managing Director, Mr Uzoma Nwagba, noted that this is a natural progression of the institution’s work.
“From mobility to renewable energy, we have witnessed the profound impact that access to credit can have on people’s daily lives. Nigerians are ambitious and hardworking; they simply need fair pathways to acquire the tools that move them forward. Digital devices now sit at the center of learning, earning, and productivity, and expanding access to them is a critical step in building a more digitally ready nation.”
On his part, Credlock’s CEO, Mr Dayo Fabayo, emphasized the power of turning everyday devices into pathways for progress. “Every smartphone represents potential to learn, to work, to access opportunity, and to live with dignity. At Credlock, we believe the device in someone’s hand can be the bridge to their financial future. Working with CREDICORP and E-Finance allows us to scale that vision to millions of Nigerians.”
This initiative is part of CREDICORP’s broader mission to expand consumer credit and improve the quality of life across the country. By widening access to digital tools, CREDICORP is supporting a more connected, productive, and future-ready Nigeria, one where every citizen can thrive.
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