News
MultiChoice Posts Loss On Drop of subscribers
By Kayode Sanni-Arewa
South Africa’s TV giant MultiChoice posted a pretax loss of 706 million rand ($38 million) for the year ending in March, the company said Wednesday citing weak local currencies and a drop in subscribers.
The company is the subject of a takeover bid by France’s Canal+, which already holds more than 35 percent of MultiChoice’s shares.
“Volatile and weaker local currencies, power challenges in markets like South Africa, and a weak consumer environment due to rising inflation and high interest rates have created an extremely challenging environment,” MultiChoice said.
The loss followed a 921 million rand profit before taxes reported the year before.
It was compounded by a nine percent decline in subscriptions.
Business in South Africa suffered from 275 days of rolling power cuts, which discouraged potential subscribers without backup power, it said.
Group revenue was also down five percent to 56 billion rand, but the firm said that were it not for currency swings, it would have been up three percent.
Africa’s largest pay TV enterprise, said it would accelerate a cost saving programme, prioritise customer retention, leverage sports renewals and further develop local content.
Its Showmax video streaming business, which re-launched in February, was showing “encouraging early traction” with the paying subscriber base growing by 16 percent, the company said.
In April, Canal+, a subsidiary of the Vivendi group led by billionaire Vincent Bollore, made a firm offer to acquire all MultiChoice shares it does not currently own.
Upping an earlier rejected bid, it offered 125 rand per share, an amount deemed “fair and reasonable” by an independent board appointed by the South African firm.
Canal+ is present in 25 African countries through 16 subsidiaries, and has eight million subscribers, according to the French group.
Its stake in MultiChoice, Africa’s largest pay TV enterprise, has allowed it to gain a foothold in English-speaking and Portuguese-speaking nations across the continent.
AFP
News
Catholic church suspends priest over alleged secret marriage in US
The Catholic Diocese of Warri, has suspended Rev. Fr. Daniel Okanatotor Oghenerukevwe from the priesthood following his reported marriage in the United States.
This was made known in a statement titled: ‘Decree of Suspension’, dated Thursday, January 16, 2025, jointly signed by Bishop of Warri, Rt. Rev, Anthony Ovayero Ewherido and Chancellor/Notary Very Rev. Fr. Clement Abobo.
The statement alleged that Oghenerukevwe entered into marriage with one Ms. Dora Chichah at the Streams of Joy Church in Dallas, USA, on 29 December 2024, noting that the footage of the marriage had been widely circulated on social media.
By this action, the church said that Oghenerukevwe has incurred a Latae Sententiae suspension in accordance with the provisions of Canon law of the church.
“Most Rev. Anthony Ovayero Ewherido, Bishop of Warri, do hereby officially decree that he is suspended from the exercise of sacred ministry.
“On November 30, 2024, Rev Fr Daniel Okanatotor Oghenerukevwe, who has been out of active ministry and without any official assignment in the United States of America, contacted me with a request to be released from all canonical obligations and responsibilities associated with Holy Orders within the Roman Catholic Church.
“The Diocese of Warri reached out to Fr. Oghenerukevwe, requesting the submission of documents required to initiate the process. However, on December 29, 2024, Fr. Oghenerukevwe entered into marriage with Ms. Dora Chichah at the Streams of Joy Church in Dallas, USA. Footage of this marriage has been widely circulated on social media.
“May God grant him the grace to reflect on this situation and guide him on the path of reconciliation,” the statement said.
News
CLARIFICATION: Wike’s aide gives authentic reason on his trip to UK
The spokesperson for the Federal Capital Territory (FCT) Minister, Nyesom Wike, Lere Olayinka, has rubbished claims that his principal traveled to London for medical treatment.
Olayinka expressed disbelief, querying how Wike could have been rushed to London on Thursday night and yet returned by Friday to visit the Dape community in Life Camp.
He criticized those perpetuating such rumors, noting the irony of questioning the health of a minister who is actively visible in public.
In a Facebook post, Olayinka said, “Some are claiming that FCT Minister, Nyesom Wike, was flown to London for medical attention on Thursday night.
“They’ve even provided specific times and an aircraft number.
“Well, if Wike was indeed flown to London on Thursday for urgent medical treatment, then he must have used witchcraft to return on Friday to visit the Dape community in Life Camp, as well as Gishiri and Pigba Sama communities in Abuja.
“Interestingly, the Minister will again use his so-called witchcraft to return to Abuja on Monday to commence the commissioning of road projects.
“People who haven’t undergone a medical check-up in over ten years are the ones speculating about the health of a Minister who is actively seen every day performing his duties. Let them continue!”
News
Port Harcourt refinery: NNPCL disowns recruitment notice
The Nigerian National Petroleum Company Limited (NNPCL) has disclaimed a purported recruitment announcement for the Port Harcourt Refining Company (PHRC), warning the public against falling victim to fraudulent schemes.
In a statement released on its official X handle (formerly Twitter) on Friday evening, the oil company clarified that no separate recruitment process was ongoing for PHRC beyond the one initiated in 2024.
The statement, titled “NNPC Ltd Disclaims Purported Recruitment Announcement for PHRC,” was signed by the Chief Corporate Communications Officer, Olufemi Soneye.
“The Nigerian National Petroleum Company Limited (NNPC Ltd) has urged members of the public to discountenance purported recruitment announcement for the Port Harcourt Refining Company (PHRC) circulating in certain online platforms,” the statement read.
NNPC Ltd further explained that its recruitment process, which commenced last year, covered all its subsidiaries, including PHRC. The company noted that candidates who passed the Computer-Based Aptitude Test were proceeding to the interview stage.
“The purported recruitment link being circulated in various online platforms is the handiwork of fraudsters who are keen on taking advantage of the newly revamped Port Harcourt Refinery to fleece unsuspecting members of the public with a phantom recruitment announcement. We, therefore, call on members of the public to be wary of the ploy and not fall for it,” the statement warned.
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