Broadcasting
MultiChoice to Delist from JSE

Video entertainment company MultiChoice is set to delist from the JSE after French media giant Canal+ took full control of the firm. MultiChoice listed on the JSE in February 2019.

Canal+ told shareholders that its offer of R125 per MultiChoice share closed at 12:00 on Friday, 10 October, and was accepted by MultiChoice shareholders holding 217 659 343 MultiChoice shares (which is approximately 92.54% of the offer shares).
Together with the MultiChoice shares that were already held by Canal+ prior to the Canal+ offer, these acceptances will result in Canal+ holding approximately 94.39% of MultiChoice’s total issued ordinary shares in aggregate.
“As the Canal+ offer has been accepted by MultiChoice shareholders holding more than 90% of the offer shares, Canal+ is pleased to announce that it intends to invoke the provisions of section 124(1) of the Companies Act to compulsorily acquire all of the MultiChoice shares not already held by it, at the offer consideration described in the combined circular (hereinafter referred to as the ‘squeeze-out’).
“Upon the exercise of the squeeze-out, MultiChoice Group (MCG) will become a wholly-owned subsidiary of Canal+ and application will be made for the termination of the listing of MultiChoice shares on the JSE in terms of paragraph 1.17(a) of the JSE listings requirements, subject to the approval of the South African Reserve Bank,” the statement reads.
Canal+ says it will publish an announcement in relation to the foregoing in due course. Once such notice is given, the MultiChoice shares will be suspended from trading on the JSE and the notice will contain further details.
In accordance with the commitment made by Canal+ as part of the approval of the Canal+ offer by the South African competition authorities, Canal+, listed in London, will, subject to obtaining all regulatory approvals, undertake a secondary inward listing on the JSE by way of introduction (using the fast-track listing procedure).
It notes that a secondary inward listing will preserve South African investor access and market liquidity, allowing local investors to hold shares in a leading global media and entertainment company on the JSE.
“It will broaden the investor base of Canal+, reinforce the company’s long-term commitment to South Africa and Africa’s creative economy, and support continued institutional exposure to the media sector,” says the firm.
“The acquisition of MCG by Canal+ marks the largest transaction ever undertaken by Canal+, cementing the combined group’s position as a global media and entertainment company.”
The combined group will serve more than 40 million subscribers across close to 70 countries in Africa, Europe and Asia, supported by a workforce of approximately 17 000 employees.
“Canal+ is proud to stand by the commitments it made during the transaction process and remains steadfast in its belief that having a secondary listing in South Africa is important given the role the combined group now plays in South Africa and across the African continent.”
Maxime Saada, CEO of Canal+, says: “We are pleased with the overwhelming success of the offer. Following this outcome, we will be moving ahead with a squeeze-out of MultiChoice shareholders and a subsequent secondary inward listing of Canal+ in Johannesburg, in addition to our primary listing in London.
“We were clear the day we launched the acquisition of MultiChoice that this was a commitment we wanted to make. Given the important role Canal+ will now play in South Africa and across the African continent, I believe it to be critically important that domestic investors have the ability to have exposure to a leading media and entertainment company on the JSE, while investors continue to get access to Canal+ through the London Stock Exchange.”
Broadcasting
South Africa’s Nomzamo Mbatha Appears on Glo-Sponsored African Voices

Globally recognized South African actress Nomzamo Mbatha will feature on this week’s edition of African Voices Changemakers, the 30 minute show on Cable News Network International (CNN).

In this episode of the Glo-sponsored programme, Mbatha sits down with CNN’s Larry Madowo for an exclusive conversation while filming the final season of the hit television series Shaka iLembe. The interview was recorded at the historic Cradle of Humankind outside Johannesburg, where she reflects on her career and the legacy she hopes to build beyond the screen.
As her international profile continues to rise, Mbatha has appeared in two Hollywood productions and was named to the prestigious TIME100 Next list in 2025, which celebrates emerging global leaders shaping the future. She is also making strides in the beauty industry as the first South African woman to secure endorsement deals with global skincare brand Neutrogena and haircare brand Cream of Nature.
Mbatha also shares the cultural importance of Shaka iLembe, her journey from South Africa to the global stage, and why giving back remains central to the enduring contribution she aims to leave behind.
The programme will air on Saturday at 8.30 a.m., with additional broadcasts at 12.00 p.m. the same day; Sunday at 4.30 a.m. and 6.00 p.m.; Monday at 3.00 a.m. and 5.45 p.m.; and Tuesday at 5.45 p.m. It will also air again on Saturday, March 14 at 7.30 a.m. and 11.00 a.m.; Sunday, March 15 at 3.30 a.m. and 6.00 a.m.; and Monday, March 16 at 3.00 a.m.
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.
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