The South African pay-TV operator MultiChoice Group disclosed that its Nigerian unit, MultiChoice Nigeria, lost 243,000 subscribers on its Digital Satellite Television (DStv) and General Entertainment on Television (GOtv) services from April to September this year.

The company revealed these figures in its Interim Financial Results for the period ending 30 September 2024, which were released on Tuesday.

MultiChoice attributed this decline to Nigeria’s high inflation rate, which exceeds 30%, driven by the rising costs of food, electricity, and fuel, causing many customers to disconnect.

In its financial report for March 2024, MultiChoice had earlier reported an 18% subscriber loss in Nigeria.

The company further reported a 566,000-subscriber loss in the Rest of Africa operations over the past six months, with Zambia and Nigeria contributing the largest shares to this decline.

“With the Rest of Africa business having seen a decline of 803k subscribers in 2H FY24, this rate of decline slowed to 566k in 1H FY25,” stated MultiChoice.

The loss included 298,000 in Zambia and 243,000 in Nigeria, while other markets experienced a minor decline.

Extreme inflation and currency instability have negatively impacted the group’s profits, with MultiChoice Group CEO Calvo Mawela commenting, “We are making good progress in addressing the technical insolvency that resulted from non-cash accounting entries at the end of the last financial year.”

Mawela noted that the group’s net equity position is expected to recover by November.
With regard to Zambia’s losses, the company attributed them to extensive power outages caused by drought, leaving some regions with up to 23 hours of daily outages.

The company also cited competition from streaming services and changes in viewer preferences as pressures on its traditional pay-TV model.

To adapt, MultiChoice invested an additional ZAR1.6 billion in its streaming service Showmax, which reported 50% year-over-year growth.
Mawela added, “Showmax strategically positions the business to actively participate in the streaming revolution as it gains momentum across Africa.”

Nollywood actress Sarah Martins has narrated how she became a gold digger.

The actress made this known while reacting to Veekee James’ story of abuse and financial exploitation by her ex-lover.

In a trending post on her Instagram page, Sarah explained that she turned gold digger after her former lover established another woman with her money.

She wrote: “After listening to Veekee James experience in her former relationship, all I can say is, stop overplaying your role in a relationship!

“There was a time I gave my ex 50% of my salary for 6 months and he was giving the money to another woman. He even funded her business from my sweat and the lady got married to someone else months after he funds her business.

“I’m a lover girl and I go hard for people I love but ever since them show me shege on top my kind heart, I no dey give man shishi! With my full chest, I am currently a gold digger!”

With some exciting news, Nigerian Grammy Award-winning singer Ayodeji Ibrahim Balogun, better known as Wizkid, has caused a stir among music lovers.

The singer is set to release a new song from his Morayo album titled “Dance” on Friday, November 15, 2024. Recall that the singer previously released a song with Brent Faiyaz titled “Piece of My Heart.”

Despite not having been released yet, “Dance” is already popular on social media, particularly on video sites, where fans are performing amazing dance moves for the song.

Wizkid has demonstrated his global talent by transitioning from his superstar and Ayo albums to the Made in Lagos and MLLE period. His next song “Dance,” a timeless Afrobeats song that has fans buzzing even before its release, suggests that he has listened to his followers.

His official DJ, DJ Tunez, has previously hinted about the song during a London party.

See videos of the dance move below