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MultiChoice Nigeria Loses 243,000 DStv, Gotv, Subscribers In Six Months Over Increase In Price

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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.

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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.”

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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.”

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Entertainment

I’m broke yet accused of money laundering – VDM breaks silence after EFCC release

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Popular social activist Martins Vincent Otse widely known as Verydarkman has reacted to allegations of financial malfeasance which led to his arrest by the EFCC.

In a viral video recorded by his lawyer after his release this evening, VDM expressed disbelief over the charges of money laundering brought against him, questioning why such accusations would be directed at someone who is not wealthy.

“How would they level allegations of money laundering on someone who doesn’t have money? I have done so many charity, they wonder how, they don’t know I use debt for charity. Anyway, we are outside, with my lawyer of course.” he said.

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How I narrowly escaped death in U.S hotel room – Seun Kuti

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By Francesca Hangeior

Afrobeat singer Seun Kuti has shared his harrowing experience in the United States when a stray bullet pierced through the window of his hotel room.

He shared the terrifying encounter on his Instagram page, posting a video of the damaged window and bullet hole.

Seun, who expressed shock, questioned the perception of safety in America.

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In the video, Seun Kuti said that he was in his hotel room, relaxing, when the bullet suddenly came through the window.

“I read somewhere that these are the civilised people. Tell me you are in America without telling me you are in America. I am in my hotel room just chilling and boom this happened”, he said.

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Funke Akindele paid, secured Lagos best doctor for my wife’s delivery – Kamo

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By Francesca Hangeior

Actor and skit maker Kamo State has penned a heartfelt note to his senior colleague and godmother, Funke Akindele, expressing deepest gratitude for her unwavering support throughout his wife’s pregnancy and childbirth.

He described her as “an angel in human form” and highlighted her selfless acts, including securing one of Lagos’s best doctors for his wife’s care and covering all medical expenses.

According to Kamo, she also offered to fly Kamo State’s wife to the US for the baby’s birth when she found out about the pregnancy late.

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He wrote: “AN ANGEL IN HUMAN FORM (Iyami Olufunke Mi Owon). To the woman who embodies love, strength, and unwavering support, my dearest godmother, Lafunky Omo Akindele. Where do I even begin to express the depth of my gratitude for all you do? You’ve always stood by me, a beacon of light in every storm, and a source of endless encouragement.

“I’ll never forget the nights you spent by my side at the hospital, your presence, a soothing balm, your vigilance, a testament to your love. Even when I told you about the pregnancy late, you were ready to fly my wife to the US for the baby’s birth, showing the lengths you’d go to for us. We were supposed to go to Dubai together when I told you my wife’s expected delivery date is close,you insisted I stay with her while you’re in Dubai with your kids, and you called my wife every single day, just to check up on her and make sure she was doing well any day I didn’t pick call like this you’ll fight me ni ooo that you must talk to ESTHER to check her, you told your driver and security details to follow us to the hospital even if we call them in the midnight, ensuring we were safe and sound. You secured one of the best doctors in Lagos for my wife and took care of every single bill, showing your selfless generosity. You prayed for my wife in our prayer group every single time, and you forced me to pray countless times, always reminding me of the power of faith. And now, as we shall be christening our baby this Tuesday, you’ve once again stepped forward, sponsoring the naming from the food to the beautiful outfits for my wife and me, you’re taking care of everything, ensuring that this celebration is as special as possible.

“IYAMI IYAMI, your generosity knows no bounds, and your love is a gift I cherish every single day. I wanted to write more, but I’m honestly short of words to express how much you mean to me. I pray that God blesses you abundantly, showering you with health, happiness, and all the good things life offers. Thank you for being the amazing woman you are, and for showing me the true meaning of family. I owe you so much, and I’ll spend a lifetime trying to repay the kindness you’ve shown me. I love you dearly!”.

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