Brands/Products
Canal+ Raises Buyout Offer for MultiChoice
By Adedapo Adesanya
French media company, Canal+, has made a mandatory offer to buy all the shares of South African broadcaster, MultiChoice, for around 55 billion Rand ($2.9 billion), a statement on Monday confirmed this.
The new offer price is almost 67 per cent higher than the MultiChoice share price just before its first offer of 105 Rand per share was rebuffed by the Multichoice board as too low in February.
The deal, if achieved, would create a pan-African broadcasting powerhouse able to put African content to global audiences as well as compete on an international scale.
The French media company has a broad reach in French-speaking African nations, while MultiChoice has a stronger presence in English-speaking countries, including South Africa, Nigeria and Kenya. Last month, it acquired a stake in Senegalese internet broadcaster, Marodi.
MultiChoice also chose Standard Bank as an independent expert to give an opinion on the offer, agreeing to cooperate in ensuring its implementation.
Canal+ operates in 50 countries across Europe, Africa and Asia, directly serving 8 million customers in Africa. It had about 25 million subscribers as of its 2023 year, while MultiChoice had 23.5 million. Both have serious ambitions for Africa and have acknowledged that scale is necessary to take on US giants such as Disney and Netflix.
“Canal+’s ambition is to build a global entertainment leader, with Africa at its heart, combining scale, complementary geographies, integrated and international reach with strong local roots, that will support the commercial development of Africa’s sporting and cultural industries and take leading and authentic African stories to a global audience,” it said on Monday.
“This long-term vision has its foundation in Canal+’s extensive and successful 30-year history of investing in African creative and sports broadcasting markets.”
Vivendi, the parent company of Canal+, is also currently undertaking a feasibility study for the proposed split of the company into several separately listed entities, first announced in December.
Should a planned European listing proceed, there will be an opportunity for South African investors to become shareholders of the combined entity as part of a secondary inward listing on the Johannesburg Stock Exchange (JSE), the company said.
Canal+ added on Monday it understood the imperative of broad-based black economic empowerment, and upon implementation, it intends to support MultiChoice in its continued efforts of transformation of its South African business. This is usually also a condition imposed by SA’s competition regulators, whose approval is required, while a circular for the offer will be released in due course.
Complicating matters had been SA laws that place limitations on foreign ownership of local broadcast licences. This means Canal+ can increase its shareholding in MultiChoice to any level, but its voting rights are limited to a maximum of 20 per cent.
Canal+ also increased its stake in the group to over 35 per cent, which is a threshold that triggers a mandatory offer.
However, given the voting cap, the South African Takeover Regulation Panel was then asked to make a ruling, finding in February that Canal+ must. Following an extension, it was given until 8 April to make its mandatory offer.
MultiChoice has also granted exclusivity to Canal+, which entails not engaging with other competing parties. However, should a better, unsolicited proposal be received, Canal+ will have the opportunity to revise its offer.
“Following constructive engagement with MultiChoice, we are pleased to have issued a joint firm intention announcement to make an offer today, representing a significant premium for the shareholders of MultiChoice,” Canal+ chair and CEO Maxime Saada said in a statement.
“Canal+ is confident in making this offer, at a level which far exceeds the minimum required by regulation, due to the incredible future we believe that Canal+ and MultiChoice can build together,” he said.
“We are excited about these opportunities, which will be supported by further investment in technology, including the continued offering of a leading satellite service, and rolling out more innovative streaming products.”
Brands/Products
Chicken Republic Introduces Improved Smokey Jollof Recipe
By Aduragbemi Omiyale
To further reinforce its commitment to continuous enhancement of customer experience through menu innovation and quality improvements, Chicken Republic, Nigeria’s leading quick-service restaurant brand and a flagship brand of Food Concepts Plc, has improved its Smokey Jollof recipe across restaurants nationwide.
As a customer-centric brand, Chicken Republic regularly evaluates consumer feedback, dining trends, and product performance to ensure its menu continues to deliver the quality and value to which customers have become accustomed.
The updated Smokey Jollof is part of this ongoing commitment to continuous improvement.
The refreshed recipe represents the latest evolution of one of the brand’s most popular offerings.
Developed with a focus on richer flavour, greater consistency and an even more satisfying eating experience, the improved Smokey Jollof reflects Chicken Republic’s dedication to meeting the evolving tastes and expectations of its customers.
“At Chicken Republic, our customers are at the heart of every decision we make. We are constantly listening, learning and looking for ways to improve the experience we deliver.
“The improved Smokey Jollof is a reflection of that commitment. We’ve refined the recipe to deliver an even richer, more enjoyable taste experience while maintaining the flavour profile our customers know and love,” the Managing Director of Food Concept, Mr Olumide Aniyikaiye, stated.
“Great brands evolve with their consumers. This update is not about changing what people love, but about making it even better.
“We are confident that customers will enjoy the improved recipe and appreciate the attention we continue to invest in delivering quality meals every day,” Mr Aniyokaiye added.
The improved Smokey Jollof is now available at Chicken Republic outlets nationwide, allowing customers to experience a more flavourful and consistent version of a fan-favourite menu item.
This latest enhancement underscores Chicken Republic’s broader commitment to innovation, quality and creating memorable meal experiences for customers across Nigeria.
Brands/Products
NAFDAC Busts N42m Expired Baby Wipes Warehouse
By Adedapo Adesanya
The National Agency for Food and Drug Administration and Control (NAFDAC) said it has uncovered a warehouse stocked with expired baby wipes intended for illegal revalidation and sale to unsuspecting consumers.
In a statement shared on X (formerly known as Twitter) on Monday, the agency said the value of the products is estimated at N42 million.
The agency said during the operation, its officers discovered over 240 cartons of expired baby wipes that had already been revalidated and repackaged, alongside approximately 20,000 additional expired wipes, equivalent to 625 cartons, awaiting revalidation.
NAFDAC said one suspect was apprehended at the scene, while the warehouse was sealed and the products evacuated for further investigation.
“The distribution and use of expired baby wipes pose significant health risks, particularly to infants and young children, including skin irritation, skin infections, allergic reactions, worsening of eczema or dermatitis, and an increased risk of diaper rash due to the reduced effectiveness of preservatives that inhibit microbial growth.
“The seized products are valued at approximately N42 million.
“We reaffirm our commitment to protecting public health by preventing substandard and expired regulated products from re-entering the market.
“Members of the public are urged to remain vigilant and report suspicious activities involving regulated products to the nearest NAFDAC office or call 0800 1 623322,” it stated.
Brands/Products
ALTON Supports NCC Call for Made-in-Nigeria Smartphones
By Adedapo Adesanya
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has backed the call by the Nigerian Communications Commission (NCC) for local smartphone manufacturing to accelerate digital inclusion.
The ALTON Chairman, Mr Gbenga Adebayo, described the proposal as a practical measure capable of accelerating broadband adoption and expanding digital inclusion across the country.
He said Nigeria must deliberately transition from being predominantly a technology consumer to becoming an innovator, designer and manufacturer of digital technologies.
According to him, Nigeria’s large telecommunications market and youthful population provide the scale and human capital needed for world-class technology manufacturing.
The ALTON chairman said the country’s ambition should extend beyond assembling smartphones to developing complete technology capabilities across the value chain.
“Our ambition should extend beyond assembling devices. We must pursue genuine knowledge transfer, research and development, product engineering, software development, semiconductor capabilities and large-scale manufacturing,” he stressed.
He said the objective should be producing devices and digital technologies for Nigeria, Africa and the global market.
Mr Adebayo said the emergence of Artificial Intelligence had further strengthened Nigeria’s opportunity to become a competitive technology manufacturing hub.
He said Artificial Intelligence was transforming product design, manufacturing, quality assurance, supply chain management, customer experience and software innovation.
According to him, investing in AI-enabled manufacturing will improve productivity, create high-value jobs and strengthen Nigeria’s competitiveness across Africa.
NCC’s Board Chairman, Mr Idris Olorunnimben, at a Digital Africa Summit Roundtable in Shanghai, called for local smartphone production and innovative financing to tackle the proliferation of counterfeit and non-type-approved devices through stronger market integrity.
The ALTON boos described the grey market as a major challenge affecting consumers, Original Equipment Manufacturers (OEMs) and the wider telecommunications ecosystem.
According to him, robust local manufacturing supported by strong quality standards will provide credible alternatives to grey-market imports.
He said effective type approval, competitive pricing and consumer confidence would encourage wider acceptance of locally manufactured smartphones.
“This will strengthen consumer protection, improve network performance, retain greater value within our economy, and stimulate industrial growth,” he said.
Mr Adebayo also endorsed innovative smartphone financing, stronger device management systems and identity-enabled credit frameworks.
He added that the initiatives would enable more Nigerians to acquire quality smartphones through affordable payment models.
According to him, telecom operators remain ready to partner with the government, manufacturers, financiers, academia, investors and development partners to build sustainable local manufacturing.
The ALTON boss described the initiative as a national economic transformation agenda capable of creating jobs and strengthening Nigeria’s position in the global digital economy.
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