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.”
By Aduragbemi Omiyale
The chief executive of Canal+ Africa, Mr David Mignot, has disclosed that MultiChoice is now fully integrated into the media group.
Mr Mignot disclosed this via a statement issued on Thursday, noting that this development marks a new phase in the evolution of one of Africa’s leading pay television operators.
He noted that the integration positions MultiChoice within a global media organisation with an extensive international footprint.
“MultiChoice is now a full subsidiary of a truly international media group operating in 70 countries. The group was founded in France, is listed in London and Johannesburg, and has a strong African presence with operations in more than 45 countries,” Mr Mignot said.
The statement underscores the scale of the combined business, highlighting Canal+’s global reach alongside its significant investments across Africa.
The completion of the transaction is expected to strengthen MultiChoice’s position in the African media and entertainment market by giving it access to the broader resources, expertise and international capabilities of the Canal+ Group, while reinforcing the group’s commitment to the continent.
MultiChoice operates across sub-Saharan Africa through platforms including DStv and GOtv, serving millions of subscribers with entertainment, sports and news content.
By Adedapo Adesanya
FoodCourt, a Nigerian cloud kitchen startup backed by Y Combinator, has suspended operations after months of unpaid salaries and mounting debts to vendors triggered a staff strike and forced the company to halt customer orders, according to a report by TechCabal.
The publication reported that customers first noticed on March 4 that they could no longer place orders through the FoodCourt app after the company disabled ordering as kitchen workers, delivery personnel and branch staff embarked on strike over unpaid wages. The company also owed outstanding payments to vendors.
By April 19, FoodCourt had temporarily shut its last operating branch after suspending activities across its Lagos and Abuja locations while seeking fresh funding and restructuring the business, according to the report.
The company’s chief executive, Mr Henry Nneji, said the decision to pause operations was not caused by a single issue but by a combination of operational, organisational and working-capital challenges.
“It’s important to clarify that the decision to pause operations wasn’t driven by one single issue. We reached a point where it became clear that continuing to patch those issues while operating wasn’t the right long-term decision,” he said.
“The objective is to build a stronger business than the one that existed before the suspension. We fully intend to bring FoodCourt back,” he added in an emailed response.
The company acknowledged outstanding obligations to employees, vendors, riders and service providers, but declined to disclose the number of affected workers or the total amount owed. It said efforts were underway to resolve the liabilities as part of its restructuring process.
It was also reported that the startup’s financial difficulties worsened after expansion into additional locations increased operating costs, while its cloud kitchen model came under pressure from rising labour, logistics, food and marketing expenses.
Despite the shutdown, Mr Nneji said FoodCourt intends to relaunch after completing its restructuring, adding that the company believes demand for its products remains strong.
Founded in 2021 by Henry Nneji and Paul Adokiye Iruene, FoodCourt operates cloud kitchens under multiple virtual restaurant brands through its consumer app. According to TechCabal, the startup had previously disclosed raising $1.7 million, delivering more than one million meals and reaching $4.3 million in annual recurring revenue by the end of 2024.
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.
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