Broadcasting
CDC Establishes Ghana Presence with Appointment of New Coverage Director

CDC Group, the UK’s development finance institution (DFI) and impact investor, on Monday announced the appointment of Kwabena Asante-Poku as Coverage Director for Ghana, effective 1 February 2022.

The new position will amplify the DFI’s presence in West Africa and strengthen its reach across the continent.
Based in Accra, Asante-Poku will lead CDC’s on-the-ground operations in Ghana, working to manage and strengthen the firm’s portfolio and to originate new investment opportunities.
Joining CDC’s Africa coverage team, Kwabena will work on deepening the partnership between Britain and Ghana, and building relationships with key government stakeholders, local private sector businesses, entrepreneurs, and several key stakeholders across the country.
Kwabena Asante-Poku’s appointment to head CDC in Ghana comes as the DFI embarks on a new five-year strategy designed to channel its capital toward scaling the vast economic opportunities throughout Africa, while also meeting pertinent development challenges.
The new approach reiterates the organisation’s invigorated strategic objective to invest for productive, sustainable, and inclusive growth in Africa.
Asante-Poku joins CDC after a 14-year tenure at PwC, where he served as a Partner in Advisory Deals and the Head of Transaction Services in Ghana and Nigeria, providing directed high-level mandates in corporate finance, due diligence, and business strategy across several sectors, including financial services and telecommunications.
Prior to his role at PwC, Asante-Poku was an independent consultant in the UK. He started his career at Unilever in Ghana.
Kwabena is a Ghanaian national and holds an MSc in Finance and Management from the Cranfield School of Management, a BSc in Applied Accounting from Oxford Brookes University, is a Chartered Accountant and a CFA Charterholder.
Commenting on his new role, Kwabena Asante-Poku, said: “I am delighted to take on this remarkable opportunity as CDC’s Coverage Director for Ghana, during this critical juncture in Ghana’s development trajectory.
“Ghana’s projected GDP growth of 4.4%, the fastest since the pandemic began, signifies a dynamic market brimming with diverse businesses and industries that are open for investment.
“I am eager to get to work on building relationships with leaders of these industries and innovative entrepreneurs, bringing CDC’s patient and flexible capital to transactions that align with the organisation’s strategic objectives and helping bolster sustainable economic growth in Ghana.”
Tenbite Ermias, CDC’s Managing Director for Africa, said: “We are pleased to welcome Kwabena as our Coverage Director for Ghana. The expansion of CDC’s Africa Coverage team reflects our dedication to building on the opportunities and trends that we see across the continent.
“Kwabena’s appointment will allow us to heighten our presence in the West African region and execute our strategic objective of investing for productive, sustainable and inclusive growth.
“Kwabena’s investment expertise across a range of industries along with his deep knowledge of regional markets will be a strong asset to this organisation.
“In his new role, I am confident that Kwabena will help us deliver a bold and long-term investment programme in Ghana and beyond.”
CDC’s current portfolio of investments in Ghana comprises 43 businesses, which support more than 11,000 jobs. The DFI’s investments span a broad range of sectors, including infrastructure, financial services, health, construction and real estate, and agribusiness.
Its growing portfolio in Ghana is valued at over $160 million and Asante-Poku’s leadership will help in identifying market opportunities and accelerate the expansion of CDC’s investment portfolio in Ghana.
Broadcasting
NCAA Orders Overland Airways to Refund VAT Charged on 2025 Tickets

Nigerian Civil Aviation Authority (NCAA) has directed Overland Airways to refund Value Added Tax (VAT) wrongly charged to passengers on flight tickets purchased in 2025.

NCAA
The directive follows a social media complaint that highlighted the airline’s application of new tax policies to older bookings, prompting NCAA intervention.
Michael Achimugu, NCAA Director of Public Affairs and Consumer Protection, confirmed Friday that Overland Airways agreed to process refunds after receiving clarification from the Nigeria Revenue Service (NRS).
The issue emerged in late January 2026 when a passenger alleged on X (formerly Twitter) that her grandmother faced an extra N11,286 VAT charge at the airport for a 2025 ticket. On January 28, NCAA summoned the airline to justify the additional payments for pre-2026 tickets.
The regulator sought NRS guidance on retroactive VAT application. NRS ruled that updated VAT rules, effective January 1, 2026, exclude tickets issued before that date.
Achimugu updated on X: “This means passengers who paid VAT at check-in in 2026 for 2025 tickets were not supposed to be charged.”
Overland Airways accepted the clarification and pledged refunds, earning NCAA commendation for cooperation. Achimugu noted the airline initially viewed charges as valid under the new framework, but NRS interpretation prevailed.
“The issue has reached a satisfactory conclusion,” he stated, reaffirming NCAA’s commitment to passenger rights and fair policy enforcement.
Affected passengers who paid extra VAT on 2025-issued Overland tickets qualify for full refunds.
Broadcasting
MultiChoice Suspends Yearly DStv Price Hike as Canal+ Pushes Growth

MultiChoice has said that it will not implement its customary yearly price increase on DStv and GOtv subscriptions.

This is the first time the Pay-TV company will not be adjusting its price in April, as it has in previous years, signalling a clear shift in direction under its new owner, Canal+.
The decision, confirmed by David Mignot, group chief executive,MultiChoice in an interview with TechCentral, comes as the pay television operator grapples with steep subscriber losses across its markets.
For many households accustomed to annual April tariff adjustments, the announcement will be a welcome break.
Responding to questions about whether DStv prices would rise in April as they have in previous years, Mignot gave a firm response: there will be no increase.
He explained that the company’s immediate focus is on rebuilding its subscriber base, making this an unsuitable period to adjust prices upward.
He added that while there are no current plans for a price hike, the company has not completely ruled out adjustments later in the year, especially if economic conditions demand it, such as significant currency movements.
MultiChoice has historically reviewed and raised DStv subscription fees in April, often citing inflationary pressures and rising content costs. As recently as April 2025, bouquet prices were adjusted upwards by between 2.1 per cent and 7.9 per cent.
The DStv Premium package rose from R929 to R979 per month, while DStv Access, the entry-level satellite package, recorded one of the steepest increases.
This year’s pause represents a break from that pattern and forms part of a broader reset following Canal+’s acquisition of MultiChoice in September 2025.
Mignot, who brings three decades of experience in the pay television industry, summed up his mission in simple terms: halt subscriber losses and return the business to growth.
The urgency behind the move is evident in MultiChoice’s recent performance.
The group has lost 2.8 million linear broadcasting subscribers in the two years ended 31 March 2025, with roughly half of those losses occurring in South Africa.
In the financial year to end-March 2025 alone, MultiChoice shed 1.2 million subscribers, representing an eight per cent year-on-year decline and leaving the group with 14.5 million active customers.
The previous year saw an even steeper drop of 1.6 million subscribers. By June 2025, Canal+ indicated that the pace of decline had intensified further.
The financial impact has been significant. Revenue for the year ended 31 March 2025 declined by R4 billion to R52 billion, while trading profit fell sharply by 49 per cent to R4 billion.
According to Mignot, the company’s difficulties stem less from its programming slate and more from weaknesses in its commercial execution.
He argued that in subscription businesses, a churn rate of between 12 and 15 per cent annually is inevitable as customers relocate, experience job losses, adjust household budgets, or change priorities. Without attracting a comparable number of new subscribers each year, losses accumulate.
Mignot maintained that the content offering remains strong, particularly in sport and general entertainment. He cited flagship brands such as SuperSport, M-Net and Africa Magic as evidence of sustained investment in programming. However, he stressed that content strength alone cannot offset a weakening subscriber acquisition engine.
He noted that MultiChoice’s commercial machinery had performed robustly across Africa until around 2022, describing the current challenges as relatively recent.
Drawing on Canal+’s experience in French-speaking African markets, Mignot pointed out that pricing there has remained largely unchanged for close to 14 years, supported by a volume-driven approach. He described his strategy as one focused on growing subscriber numbers while maintaining profitability.
While he did not dismiss the possibility of reviewing prices downward in future, he indicated that no such decision has been taken.
Broadcasting
Spotify Marks 5 Years in Nigeria with 163.5% Listening Surge, Afrobeats Boom

Spotify marked five years in Nigeria since its February 2021 launch with dramatic year-on-year listening growth averaging 163.5% through 2025, featuring triple-digit surges early on and sustained momentum, propelled by Afrobeats streams rocketing +5,022% alongside booming genres like Amapiano (+10,330%), Gospel/Praise (+5,499%), Hip-hop/Rap (+3,020%), and R&B (+2,602%).

Spotify
Indigenous language music listening surged +554% in Nigeria in 2024 and +87% in 2025, with global growth at +141% and +41% respectively, underscoring rising demand for local storytelling sounds.
The platform’s Nigerian artist roster expanded +158%, fueling a discovery boom where average listeners (aged 26) streamed 150 different artists recently; users created over 25 million playlists, logged 1.4 million play hours in 2025 alone, and streamed 59 billion podcast hours total.
Top Artists (2021-2025): Asake, Wizkid, Seyi Vibez, Burna Boy, Davido.
Top Songs: “Remember” (Asake), “Dealer” (Ayo Maff & Fireboy DML), “Awolowo” (Fido), “Kese (Dance)” (Wizkid), “Lonely At The Top” (Asake), “Joy is Coming” (Fido), “With You” (Davido feat. Omah Lay), “Terminator” (Asake), “MMS” (Asake feat. Wizkid), “Doha” (Seyi Vibez).
Nigeria’s debut stream was Shiga Lin’s Cantopop epitomizing borderless discovery from day one.
E-Financial3 days agoNRS Targets N40trillion in Tax, Royalty Revenue in 2026
General News3 days agoPurple Woman 3.0 Is Back, to Empower Women in Tech this IWD 2026
E-Financial3 days agoSEC Revokes Registration of Kensington Agro Trading Limited
News3 days agoEFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud
E-Business3 days agoNDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al
Telecom3 days agoKonga Launches ‘Berekete Sales’ with Up to 50% Discounts Across Major Categories
E-Financial2 days agoNigeria’s VAT Jumps 34%, CIT Soars 48% to ₦14trn in 9M’25 – NBS
General News3 days agoNCDC Raises Alarm over Lassa Fever Ravaging 18 States in Nigeria
















