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Subscription Fee Issues Take Toll on Multichoice Results

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The latest performance report of Multichoice, where it posted losses for the second time may be an eye opener that the company at the centre of a storm in Nigeria over the controversial review of subscription fees is indeed under serious pressure caused by the crisis in the foreign exchange market and other operating challenges, writes Festus Akanbi.

For Multichoice, Africa’s leading entertainment company, this is certainly not a time to cheer. This is because its latest financial results have shown that contrary to popular belief, the company is not making enormous profits from its DStv satellite television service. The performance result which was in red confirmed that while the satellite television service contributes significantly to Multichoice’s revenue, the truth is that the company is not solely reliant on it.

 MultiChoice reported loss-making for the year ended 31 March 2024 after incurring a net loss of 4.1 billion rand ($225.8 million at current exchange rate). The company recorded a loss for the second year running, its audited accounts released on Wednesday showed.

According to the company, the substantial net foreign exchange translation losses resulted from losses on, “USD-denominated non-quasi equity loans between MultiChoice Africa Holdings B.V. and MultiChoice Nigeria Limited.”

This, it added, “follows the depreciation of the Naira against the Dollar from a closing rate of N464.50 in FY23 to N1 308.00 in FY24.”

According to the income statement, revenue dropped 5.9 per cent to 55 billion rands due to a slide in subscription fees.

“The combination of foreign exchange headwinds and a lower subscriber base resulted in a net decline in group revenues of five per cent to ZAR56.0 billion,” MultiChoice said.

Counting the Gains of Diversification

The report showed that general and administrative expenses jumped to 18.4 billion rands from 16.6 billion rands a year earlier after surges in employee costs and software license expenses, weakening operating profit.

The report showed however that Multichoice’s diversification strategy has led to significant growth in other segments, such as Showmax, SuperSportBet, and Moment. These new revenue streams have contributed to the company’s overall performance, offsetting some of the challenges faced by DStv.

According to the financial results, several of the company’s other products and services also performed well. Showmax, in particular, has shown impressive growth, with a successful relaunch across 44 markets in sub-Saharan Africa and a significant increase in active users.

Highlighting the company’s achievements in the face of adversity, Multichoice Group Chief Executive Officer, CEO, Calvo Mawela, said despite a tough year, the company delivered a trading profit margin of 26 per cent in South Africa and a 48 per cent increase in trading profit in Africa.

“We’ve just published our results for the past financial year, which ended in March 2024. The year has been like no other in terms of economic turmoil, but we showed resilience and navigated significant headwinds – managing our business with focus, dedication, and tenacity,” said Mawela.

Emphasis on Efficiency

He added that the company’s financial results were a testament to its ability to adapt and innovate in a rapidly changing market, noting that the emphasis on efficiency has positioned the company for future growth, despite the challenges faced by its satellite television service.

“KingMakers delivered strong growth in the online business in Nigeria by growing monthly active online users by 37 per cent and online gross gaming revenues by 26 per cent, year-on-year in constant currency. The business launched BetKing Casino and a virtual football sportsbook service, BetKing FootballGO, in Nigeria and SuperSportBet in South Africa”, the CEO stated.

He continued: “SuperSport continues to bring fans the best of sports from across the globe. In the past year, we broadcast over 34,000 action-packed sports events, more live sports than any other broadcaster in the world. Highlights of the year were the Rugby World Cup, Cricket World Cup, Netball World Cup, FIFA Women’s World Cup, and AFCON.

“Also, SuperSport Schools continues to grow strongly and more than doubled its registered user base during the year. Showcasing South Africa’s talent of the future, the platform displayed 49,000 hours of live programming across 43 different sports, covering 1,100 schools and 14,500 teams.”

Mawela emphasised the company’s commitment to creating authentic African stories. “We are the largest producer of original content on the African continent and remain committed to creating and growing authentic African stories. We produced over 6,500 hours of local content, to bring our local content library to 84,000 hours of content. More than half of our general entertainment budget is spent on local content.”

Commitment to Innovation

With a cost savings target of ZAR2 billion (108.9 million) set for the upcoming year, the company is poised to continue its trajectory of growth and innovation.

“We know that nobody else has the content we have for the customers we serve. This puts us in a great position to prosper – by better understanding our customers’ entertainment choices, identifying their needs, and tapping into the growth opportunities that arise along the way.

“In the year ahead, our focus will be to drive scale in Showmax, Moment, and SuperSportBet and to grow DStv Insurance, DStv Internet, and DStv Stream. We are purposefully pursuing our vision of becoming Africa’s entertainment platform of choice with determination and vigour. Significant progress has been made towards achieving this strategic objective. Our combined efforts will put our business in a strong position to prosper once the macro-economic environment stabilises,” the Multichoice boss assured

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Sell Gift Cards in Nigeria Safely: Why Migo-Sell Gift Cards Is Becoming a Trusted Gift Card Trading Platform

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Migo Gift Card

As digital payments continue to expand across Africa, gift card trading has become one of the most practical ways for users in Nigeria and Ghana to convert digital value into cash. From Apple Gift Cards and Amazon Gift Cards to Steam, Google Play, and gaming-related cards, many users now prefer to sell gift card online to meet daily financial needs.

However, despite strong demand, the gift card exchange market in Nigeria still faces long-standing challenges. Delayed payments, unclear pricing, inconsistent verification standards, and increasing fraud cases have made trust the single most important factor when choosing a gift card trading platform.

Against this background, Migo – Sell Gift Cards is positioning itself as a more structured and reliable gift card trading app, focused on transparency, controlled verification, and predictable payouts rather than exaggerated promises.

Rising Demand, but Trust Remains the Industry’s Weak Point

For many users, converting gift cards to cash is no longer optional. While international gift cards are widely used for online shopping, subscriptions, and digital entertainment, not all Nigerian users can spend them directly within the local financial system.

As a result, redeeming gift cards for cash in Nigeria has become common practice. Yet user complaints across the market reveal recurring issues: hidden deductions, unstable gift card rates, rejected cards without explanation, and payouts that take far longer than expected.

Migo – Sell Gift Cards was developed after examining these weaknesses across the industry. Rather than competing solely on speed or headline rates, the platform aims to deliver consistency—clear rules, visible pricing, and realistic processing timelines.

Supporting High-Demand Gift Cards in Nigeria and Ghana

User demand in the Nigerian gift card market is highly diverse. Instead of limiting transactions to only a few brands, Migo – Sell Gift Cards supports a wide range of gift cards that are actively traded across Nigeria and Ghana, including:

Apple Gift Card, Amazon Gift Card, Steam Gift Card, Google Play Gift Card, Razer Gold Gift Card, Xbox Gift Card, PlayStation Gift Card, Roblox Gift Card, Vanilla Gift Card, Walmart MoneyCard, Target Gift Card, Macy’s Gift Card, Best Buy, GameStop, Nike Gift Card, Foot Locker Gift Card, Sephora Gift Card, Nordstrom, Coach Gift Card, Dollar General, NetSpend, Lowe’s, Paysafe Card, MoneyPak, American Express (Amex), go2bank, and One4All.

This broad coverage allows users to sell gift cards in Nigeria on a single platform, reducing the risks associated with switching between multiple gift card exchange services.

Controlled Speed Instead of Risky “Instant” Claims

In the gift card trading industry, “instant cashout” is often promoted but rarely explained. In practice, unverified speed frequently leads to disputes, failed payouts, or account restrictions.

Migo – Sell Gift Cards adopts a controlled processing approach, combining automated systems with manual verification to assess gift cards based on brand, type, and risk level. Once verification is completed, payouts are processed in Nigerian Naira (NGN) or Ghanaian Cedi (GHS).

This method prioritizes reliability and user protection while still aiming for timely cashouts within reasonable and clearly communicated timeframes.

Transparent Gift Card Rates in Nigeria

One of the biggest concerns for users is gift card rates in Nigeria, which can fluctuate frequently based on market conditions. Migo – Sell Gift Cards addresses this by displaying the available exchange rate before a user confirms a transaction.

Whether users want to sell Apple Gift Card, sell Steam Gift Card,sell macy’s gift card or trade other brands, pricing is visible upfront. Once a rate is accepted and verification is completed, there are no unexpected deductions, helping users better predict their final payout.

Simple and Consistent Trading Process

To make online gift card trading accessible to both new and experienced users, Migo – Sell Gift Cards keeps its workflow straightforward:

  1. Create an account (https://www.migogiftcard.com)
  2. Select the gift card type
  3. Submit gift card details or images
  4. Verification process
  5. Cash payout

This consistent structure reduces errors, improves clarity, and supports both first-time users and frequent traders.

Raising Standards in a High-Risk Digital Market

As Nigeria’s digital finance ecosystem grows, competition among gift card trading platforms is shifting away from speed alone toward risk management, transparency, and user communication.

Migo – Sell Gift Cards states that its long-term goal goes beyond completing transactions. By maintaining clear rules, stable execution, and responsive customer support, the platform aims to contribute to higher standards across the Nigeria gift card exchange industry.

Frequently Asked Questions (FAQ)

What is Migo – Sell Gift Cards and how does it work?

Migo- Sell Gift Cards is a digital gift card trading platform that allows users in Nigeria and Ghana to sell gift cards online and receive cash payouts after verification.

Is Migo – Sell Gift Cards a legitimate gift card trading platform in Nigeria?

Yes. Migo – Sell Gift Cards operates with structured verification procedures, transparent pricing, and consistent payout rules designed to reduce fraud and failed transactions.

What types of gift cards can I sell on Migo – Sell Gift Cards?

Migo – Sell Gift Cards supports Apple, Amazon, Steam, Google Play, Razer Gold, Xbox, PlayStation, Roblox, Vanilla Visa, Walmart MoneyCard, Target, Macy’s, Best Buy, GameStop, Nike, Foot Locker, Sephora, Nordstrom, Coach, Dollar General, NetSpend, Lowe’s, Paysafe Card, MoneyPak, Amex, go2bank, and One4All.

How fast is payment after selling a gift card?

Payment speed depends on the gift card type and verification process. Once verified, payouts are processed in NGN or GHS as quickly as possible while maintaining security.

Does Migo – Sell Gift Cards offer instant cashout?

Migo – Sell Gift Cards focuses on reliable and predictable cashouts. Some transactions are faster than others, but all go through verification to protect users.

How are gift card rates determined in Nigeria?

Rates depend on brand, demand, card type, and risk level. Migo – Sell Gift Cards shows the available rate before transaction confirmation, with no hidden deductions after verification.

Is it safe to sell gift cards online on Migo – Sell Gift Cards?

Selling gift cards online carries risk, but Migo – Sell Gift Cards reduces this through a combination of automated systems and manual review to improve transaction safety.

Who can use Migo – Sell Gift Cards?

Migo – Sell Gift Cards currently serves users in Nigeria and Ghana.

About Migo – Sell Gift Cards

Migo – Sell Gift Cards is a digital gift card trading app serving users in Nigeria and Ghana. The platform focuses on secure verification, transparent pricing, and reliable cash payouts, helping users safely convert gift cards into cash through a structured and trustworthy process.

Website: https://www.migogiftcard.com

iOS Download Link: https://apps.apple.com/us/app/migo-sell-gift-cards/id6670494373

Playstore Download Link: https://play.google.com/store/apps/details?id=com.antwallet.giftcard

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DStv, GOtv to Retain CNN, Cartoon Network, 10 Others After Last Minute Deal

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By Adedapo Adesanya

Canal+ and Warner Bros. Discovery have signed a new multi-year, multi-territory agreement to strengthen their partnership internationally that will scrap the exit plans of channels like CNN International and Cartoon Network on pay television services -DStv and GOtv.

The last minute agreement reached on December 31, 2025, means 12 channels at risk of being yank off, including Discovery, CNN, TLC, Discovery Family, Real Time, Food Network, HGTV, Investigation Discovery, and Cartoon Network, will remain on both DStv and GOtv.

According to a statement by Canal+ yesterday, the deal between the two broadcasting giants spans multiple territories, including South Africa, the rest of Africa and regions in Europe where Canal+ also has operations.

Canal+ said: “This expanded agreement covers both the distribution of HBO Max and the renewal of several Warner Bros Discovery thematic channels across numerous regions.”

The announcement comes as a relief to DStv subscribers, who received notices via email and on-screen warnings from December 1, 2025, stating that the channels in question could be removed from their bouquets since contractual negotiations between Canal+ and Warner Bros Discovery had reached an impasse.

Regions outside Africa also affected by the new deal include Romania, Hungary, the Czech Republic and Slovakia, where Cartoon Network, Cartoonito and CNN International have been renewed.

Other Warner Bros channels renewed in European regions not available in Africa include Warner TV, Cinemax and TVN.

“Canal+ and its longstanding partner, Warner Bros Discovery, are pleased to announce the signing of a new multi-year and multi-territory agreement, marking a major milestone in the development of their collaboration on an international scale,” Canal+ stated.

The agreement between WBD and the French media group builds upon previous deals made in 2024, including the renewal of the exclusive pay-TV window for Warner Bros. Pictures films six months after their theatrical release in France and the integration of HBO Max within select Canal+ group offers.

It also comes during Netflix’s pending purchase of Warner Bros. Discovery, which could further position Canal+ as a power player on the global stage as the company already has distribution deals in place with Netflix.

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JMG Installs Solar Power Systems at Three NIPCO Fuel Stations

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By Aduragbemi Omiyale

Nigeria’s trusted hybrid and integrated electromechanical energy provider, JMG Limited, has completed the installation of solar power systems at three key fuel stations of NIPCO Plc.

The clean energy source was installed at NIPCO’s petrol dispensing outlets in Gwagwalada Abuja, Lekki Lagos, and Mpape Abuja.

This will help the organisation eliminate diesel reliance, and unlock more than N44 million in annual energy cost savings.

The installations feature advanced hybrid systems, combining solar arrays, lithium battery storage, and smart inverters to provide 24/7 energy for fuel pumps, lighting, and office operations. Each site has reported zero use of electricity or generator power since the systems were installed.

The three NIPCO stations now run on an advanced hybrid solar system that combines high‑efficiency PV panels, intelligent lithium‑battery storage and smart inverters.

Since commissioning, the sites have operated with zero grid or generator power, providing silent, clean, uninterrupted electricity for pumps, lighting and administration.

“We are proud to help NIPCO lead the energy transition at the retail level.

“The scalable architecture can be sized to each location and has already delivered significant savings, about 88,535 kWh/year, N44.4 million in annual cost savings and a 43.8‑tonne reduction in CO₂ emissions,” the Head of JMG’s Hybrid Solar Division, Mr Abbass Hussein, stated, adding that, “Collaborating with NIPCO on this initiative demonstrates a practical pathway for other firms to reduce both emissions and energy expenses.”

Also commenting, NIPCO’s Station Manager at Gwagwalada, Mr Idoko Jacob, said, “The stations have not relied on electricity or generator power on bright-weather days since commissioning. The solar systems fully meet our daily energy needs during such periods. On days with poor weather, we supplement the solar system with generator power to ensure uninterrupted operations.”

Business Post gathered that the NIPCO Gwagwalada Station has a solar output of 42,450 kWh/year, annual savings of N15.6 million, and CO₂ reduction of 15,332.76 kg/year, with a system installed consisting of a 20kW Deye LV Hybrid Inverter, 26.8kWp Solar PV, and 51.2kWh Lithium Battery Storage.

The NIPCO Lekki Station has a solar output of 3,635 kWh/year, annual savings of N12 million, and CO₂ reduction of 13,130.1 kg/year, with a system installed consisting of a 25kW Must Hybrid Inverter, 22.95kWp Solar PV, and 76.8kWh Lithium Battery Storage.

As for the NIPCO Mpape Station, it has a solar output of 42,450 kWh/year, annual savings of N16.8 million, and CO₂ reduction of 15,332.76 kg/year, with a system installed consisting of a 20kW Deye LV Hybrid Inverter, 26.8kWp Solar PV, and 61.44kWh Lithium Battery Storage.

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