France’s Canal+ said Wednesday it had cleared the final regulatory hurdle for the buyout of Africa’s largest pay TV enterprise, MultiChoice, and further expand its footprint on the continent.

The company said in a statement that the South African Competition Tribunal had given its approval for Canal+ to acquire the approximately 55 per cent of MultiChoice shares it does not already own.

The approval “clears the way for us to conclude the transaction in line with our previously communicated timeline” by October 8 at the latest, Canal+ chief executive Maxime Saada said in a statement.

“I’m excited about the potential this transaction unlocks for all stakeholders… the combined Group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies,” he added.

Canal+ is present in 25 African countries through 16 subsidiaries and has eight million subscribers, according to the French group.

MultiChoice operates in 50 countries across sub-Saharan Africa and has 14.5 million subscribers, it says. It includes Africa’s premier sports broadcaster, SuperSport, and the DStv satellite television service.

“It is a hugely positive step forward in our journey to bring together two iconic media and entertainment companies and create a true champion for Africa,” Saada said about combining Canal+’s French language offerings with the English and Portuguese content on MultiChoice.

Canal+ hopes that the acquisition will allow it to grow to 50 to 100 million subscribers in a few years, from 27 million currently.

The mandatory share offer of 125 rand (6 euros) per share values MultiChoice values the company at $3.0 billion (2.6 billion euros).

The approval came with several public-interest conditions worth about 26 billion rand over three years and keeping MultiChoice’s headquarters in South Africa. Shares in Canal+ climbed 1.3 per cent in trading in London, and are up 12.8 per cent this year.

Fifteen years ago, something truly special dropped onto the music scene: Flavour N’abania’s second album, Uplifted. This was a first showcase of his talent. With powerful vocals, masterful highlife production, and a deep connection to his cultural roots, Uplifted solidified Flavour’s reputation as a gifted artist.

At the time of its release, Uplifted smashed through borders and cultural divides, all thanks to Flavour’s deep commitment to celebrating his Nigerian roots, especially his Igbo heritage. This powerful connection to his culture has made him a major force, not just in Nigeria, particularly in the East, but also among the Igbo community dotted around the world.

The sheer success of Flavour’s cultural expression is highlighted by Spotify data from Uplifted and his other tracks. Even though his songs are deeply rooted in his culture and often sung in Igbo, they’re getting massive plays all over the globe.

Uplifted itself has stayed a big deal on streaming platforms, with its standout tracks racking up some serious numbers. Among the most-streamed hits from the Uplifted album are Ashawo Remix, Adamma, and Oyi (I dey Catch Cold). These tracks, along with other timeless fan favourites like Time To Party, Nwa Baby (Ashawo Remix), and Game Changer (Dike) have all contributed significantly to Flavour’s overall streaming success, proving their lasting appeal. Reflecting on the album’s anniversary during an exclusive chat with Spotify, Flavour revealed that for him, “Adamma” truly captured the essence of Flavour from the Uplifted album era.”

From the heart of Nigeria to global playlists: Flavour’s universal pull

Flavour’s music really does have a universal pull. His songs have popped up in over 2 million user-made playlists, which shows just how much people are connecting with and sharing his tunes. And get this: in the last three years, from 2022 to 2024, Flavour’s music has seen a growth in streams, a total stream increase of 134% globally, and a 573% increase across Sub-Saharan Africa.

While 51% of his total audience is in Nigeria, his influence stretches far and wide with the USA, UK, Canada, South Africa, and France all among his top listening countries. That’s a truly global footprint, reaching across Africa, Europe, and America.

Leading Flavour’s listenership in Nigeria is a strong showing from Lagos, accounting for 38% of his Nigerian audience. The Federal Capital Territory (FCT) and Rivers State also follow closely, making up 22% and 16% respectively, together claiming 76% of his Nigerian audience. He also enjoys love in the east as two Eastern Nigerian cities, Enugu and Onitsha, break into his global top 10. Big international cities like Greater London, Johannesburg, and New York City feature prominently too. This wide geographical spread shows how his music crosses all sorts of borders.

Who’s listening? A look at Flavour’s fanbase

Flavour’s audience is diverse with Gen Zs (18-24 year olds) as his biggest fans globally and across Sub-Saharan Africa. This strong youth appeal is vital for his long-term success. While his music celebrates women, men form the majority of his listeners globally (57%) and in Sub-Saharan Africa (63%).

The lasting success of Uplifted highlights how digital streaming has completely changed the music industry. Platforms like Spotify have given artists like Flavour ways to connect with fans everywhere. These days, streaming data gives us a clear, numbers-based look at an artist’s reach, showing that Flavour’s cultural stories, delivered in fluent Igbo, truly resonate far beyond Nigeria’s borders.

Flavour’s strong link to his Igbo roots, seen in his music, has driven his global success, acting as a cultural bridge for Nigerian traditions. The ongoing popularity of Uplifted and his other songs on streaming platforms proves that genuine cultural expression, mixed with great artistry, ensures lasting success today. As Uplifted hits 15 years, it showcases the power of culture worldwide.

By Lukman Otunuga, Senior Market Analyst, FXTM

This will be a week defined by high-impact events and corporate earnings from the largest companies in the world.

Nigeria’s central bank is expected to hold interest rates on Tuesday.

This decision is likely based on still stubbornly high inflation despite price pressures easing in recent months. Inflation slowed to 22.2% year-on-year in June, its third consecutive decline. A CBN rate cut could be on the cards in H2, but this will be on the back of persistently falling price pressures.

Looking at the NGX All Share Index, it has gained almost 10% month-to-date – pushing 2025 gains to nearly 30%. This means the NGX is currently outperforming the S&P500 and Nasdaq100 who have gained roughly 7% and 11% this year respectively. The Naira spot has held its ground against the USD this year after depreciating almost 70% in 2024.

Outside of Nigeria, earnings season is in full swing with US banks reporting strong results last week. Now the spotlight shines on big tech with Alphabet and Tesla reporting on Wednesday.

Alphabet shares gained 14% in Q2 amid strong AI product demand and growth in the cloud business. However, bulls may need a fresh catalyst to push Alphabet’s year-to-date gains out of the red. Tesla is down almost 20% year-to-date and could extend losses if its latest quarterly results are below market expectations

On the data front, key releases from Europe, the United Kingdom, Japan, and the United States may influence global sentiment.

But the main event for FX markets could be the European Central Bank decision on Thursday. No changes are expected to interest rates, but any clues offered on future moves could spark fresh volatility. Traders are currently pricing in a less than 50% probability that the ECB cuts rates by September

Speaking of FX, the dollar has weakened across the board with the DXY tumbling toward 97.70. This weakness could be based on mounting pressure from Trump to cut US rates and caution ahead of the tariff deadline on August 1st.

Note: Nigeria faces a 14% reciprocal tariff on its goods imported into the U.S, effective from August 1st.