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MultiChoice Loses 2.8m Subscribers in Two Years

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Video entertainment company MultiChoice’s woes are persisting with the company continuing to suffer massive losses in revenue and subscribers.

This emerged today when the DStv parent company announced its financial results for the year ended 31 March (FY25).

In a statement to shareholders on the Stock Exchange News Service, the JSE-listed firm says the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across sub-Saharan Africa due to challenging macro-economic factors.

Combined with the impact of structural industry changes in video entertainment such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it notes.

Over this period, MultiChoice says the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its topline due to local currency depreciation against the US dollar.

For the year ended 31 March, the company reveals that linear subscribers were down 1.2 million or 8% year-on-year (YoY) to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and Rest of Africa (600 000).

Although reflecting an improvement on FY24 trends, MultiChoice says this indicates ongoing broad-based pressure across the group’s entire customer base.

Active paying Showmax subscribers were up 44% YoY, reflecting healthy growth and gaining regional market share, it adds.

Group revenue declined by R5.2 billion or 9% YoY to R50.8 billion, mainly due to an 11% decline in subscription revenues (-1% organic) caused by foreign currency and subscriber volume headwinds and the deconsolidation of the NMSIS insurance business from December 2024, it explains.

According to the firm, this was partially offset by inflationary pricing and new product growth (DStv Internet, DStv Stream and Extra Stream).

Trading profit, which declined by R3.8 billion or 49% YoY to R4 billion, was materially affected by the R2.3 billion organic increase in trading losses in Showmax and the R5.2 billion in foreign currency revenue losses, partially offset by a significant outperformance in delivering total cost savings of R3.7 billion.

Adjusted core headline earnings, the board’s revised measure of the underlying performance of the business, shifted to a loss of R800 million (FY24: earnings of R1.3 billion) due to lower trading profit and hedging losses in FY25 (compared to gains in FY24), partially offset by smaller losses on cash remittances from Nigeria.

The group incurred a free cash outflow of R500 million in FY25 (FY24: inflow of R600 million), impacted by lower profitability, higher lease repayments due to timing and partially offset by improved working capital management as well as a 29% YoY decline in capex.

At year-end, the group held R5.1 billion in cash and cash equivalents and retains access to R3 billion in undrawn general borrowing facilities.

A part of the R12 billion term loan was repaid early by using the R900 million upfront proceeds from the NMSIS transaction (ie R1.2 billion, net of tax), says the company.

The group operates in numerous markets across Africa and internationally, resulting in significant exposure to foreign exchange volatility.

Amid the challenges, MultiChoice states that management acted decisively to ensure that the group could withstand these headwinds, focusing on key areas within its control.

It notes that this has meant maintaining a discipline of inflationary pricing, with price increases of 5.7% in South Africa in FY25 (FY24: 5.6%) and an average of 31% in local currency in Rest of Africa (FY24: 27%), which enabled the group to offset subscriber volume pressures and deliver 1% YoY organic revenue growth in the current financial year.

In addition, further efficiencies were implemented to manage costs and cash flows without unduly sacrificing the group’s customer value proposition, it adds.

In this regard, the group delivered R3.7 billion in cost savings, well ahead of management’s initial R2 billion target (and the revised R2.5 billion target set at interims) and almost double the R1.9 billion saved in FY24, the company says.

 


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EFCC Re-Arraigns Echefu, TStv CEO for Allegedly Defrauding Ex-Minister of N1Bn, $1.3m

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Bright Echefu, chief executive officer, Telecom Satellites Limited (TStv), and three co‑defendants appeared before the Federal High Court in Abuja yesterday on an amended twelve‑count indictment brought by the Economic and Financial Crimes Commission (EFCC). The charges allege money laundering, tax evasion, and investment fraud involving approximately ₦1 billion and $1.3 million.

EFCC Re-Arraigns Echefu, TStv CEO for Allegedly Defrauding Ex-Minister of N1Bn, $1.3m

Bright Echefu, chief executive officer, TStv

In addition to Echefu, the defendants are TStv Executive Director, Felix Igboanuga, Telecom Satellites Limited itself, and Briechberg Investment Ltd.

According to the April 5, 2025, amended charge sheet the EFCC accuses the quartet of defrauding Mr. Tanimu Turaki, Managing Director of Kalsiyam Global and former Minister of Special Duties, alongside BYI General Limited, out of a combined investment of ₦1 billion and $1.3 million. The commission has also included a ₦66 million alleged tax default.

The revised indictment lists:

Count 2: ₦33,909,542.47 in unremitted Company Income Tax

Count 3: ₦13,519,382.00 in unremitted VAT

Count 4: ₦19,488,860.00 in unremitted PAYE

Counts 5–12: Various fraud‑related transactions, including ₦380 million from Kalsiyam Farm, ₦400 million from BYI General Ltd and $1.35 million in loans secured under false pretences.

All defendants pleaded not guilty once again. At the hearing before Justice Mohammed Umar, Echefu’s lead counsel, Senior Advocate Eyitayo Fatogun, informed the court of ongoing settlement discussions with the complainants.

“There are moves to settle this matter and there was a meeting on Saturday between myself and the Nominal Complainant as it is about investment,” Fatogun stated.

“The Defendants have paid some money and I was thinking that the matter be adjourned for report of settlement.”

EFCC counsel A.S. Tomwell confirmed receipt of those payments but emphasized the necessity of entering a plea before considering any adjournment. The court thus ordered the formal reading of the charges and adjourned the trial to October 15, 2025.


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More Woes for MultiChoice as Ghana Orders 30% Price Cut

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The government of Ghana has ordered MultiChoice Ghana to reduce DSTV subscription costs by 30%, noting the significant appreciation of local currency and growing dissatisfaction with current rates.

This comes as Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria ₦766,242,500 for breaching the Nigeria Data Protection Act (NDPA).

According to Mr Babatunde Bamigboye, head Legal, Enforcement & Regulations, NDPC, the investigation, which commenced in the second quarter of 2024, was triggered by suspected breach of privacy rights of Multichoice subscribers and illegal cross-border transfer of personal data of Nigerians.

MultiChoice, which operates across Africa, continues to lose revenue and subscribers.

Ghana’s minister of communication, digital technology, and innovation, Samuel Nartey George, made the call last week during a meeting with a DSTV team led by Dr. Keabetswe Modimoeng, group executive for regulatory and corporate affairs.

According to a ministry statement, George said the government’s responsibility is to respond to Ghanaians’ concerns over high DSTV pricing and outdated content offers.

The Minister pointed out that despite a 30% increase in the cedi’s value over the past five months; DSTV prices have not reflected the positive economic trend.

‎The statement went on to say the minister is therefore calling for a 30% price reduction to match the cedi’s appreciation and to pass on economic benefits to consumers.

According to the statement, while MultiChoice has implemented promotional packages, people prefer a direct price reduction over temporary discounts.

George said feedback from public engagements revealed that many users are dissatisfied with DSTV’s content, describing it as outdated save for Premier League football. They also believe that the current cost is not justified.

‎”To address the concerns, he said MultiChoice Ghana has until July 21 to formally respond to the government’s request. The Minister expects a concrete proposal by this date, allowing time for further engagement before the end of July,” the statement said.

‎In response, Dr. Modimoeng acknowledged the government’s concerns and expressed gratitude for the opportunity to dialogue.

The MultiChoice team reacted positively to the minister’s request and committed to provide input by July 21st. They emphasised the need of balancing public interest and business sustainability.

This is the continent’s latest pricing conundrum for the pan-African pay-TV business, following fee disputes with Nigerian and Malawian authorities.

In Ghana, the demand for price cuts comes as MultiChoice is under pressure, having lost revenue and subscribers in the financial year that ended March 31, 2025. Last month, the company announced its financial year-end results.

In a statement to shareholders last month on the Stock Exchange News Service, the company said the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across Sub-Saharan Africa due to challenging macro-economic factors.

Combined with the impact of structural industry changes in video entertainment, such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it noted.

Over this period, MultiChoice said the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its top line due to local currency depreciation against the US dollar.

For the year, the company reveals that linear subscribers were down 1.2 million, or 8% year-on-year, to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and rest of Africa (600 000).

 


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NDPC Slaps Multichoice with ₦766M Fine for Data Privacy Violations

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Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria ₦766,242,500 for breaching the Nigeria Data Protection Act (NDPA).

NDPC Slaps Multichoice with ₦766M Fine for Data Privacy Violations

NDPC is a public institution that processes data in furtherance of its mandate as Nigeria’s data protection authority and relies on recognised lawful bases for data processing, such as consent, legal obligation, and contract.

The fine was contained in a statement signed by Mr Babatunde Bamigboye, head Legal, Enforcement & Regulations, NDPC.

According to him, the investigation, which commenced in the second quarter of 2024, was triggered by suspected breach of privacy rights of Multichoice subscribers and illegal cross-border transfer of personal data of Nigerians.

“The NDPC found, among others, that Multichoice violated the data privacy rights of subscribers and their friends who are not necessarily subscribers.

The Commission also found that Multichoice carries out illegal cross-border transfer of personal data relating to data subjects in Nigeria.

The depth of data processing by Multichoice is patently intrusive, unfair, unnecessary, and disproportionate.

This is a grave affront to fundamental right to privacy as enshrined in Section 37 of the 1999 Constitution of the Federal Republic of Nigeria.

In line with its standard remediation procedure, the Commission directed Multichoice to carry out appropriate remedial measures.

However, the Commission found the measures undertaken by Multichoice in this regard unsatisfactory.

For want of cooperation, the Commission has directed Multichoice to pay ₦766,242,500 for violating the Nigerian Data Protection Act.

“Nigeria is entitled to protect her citizens and data sovereignty under both international and extant municipal laws, as these have far-reaching implication for rule of law, national security, and economic growth.” the statement said.

Babatunde also revealed that, Vincent Olatunji, national Commissioner, NDPC, has directed that all outlets through which Multichoice is collecting personal data of Nigerian citizens should be investigated for non-compliance.

He added that any outlet that processes personal data in violation of the NDP Act is liable to penalty under the Act.

 


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