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MultiChoice Hits Record Profit with Huge Increase in DStv Subscribers

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MultiChoice Group (MCG), Africa’s leading video entertainment company, has revealed a big increase in trading profit and subscribers on DStv, its pay-TV service in its latest financial results, ended 31 March 2021 .

MultiChoice Hits Record Profit with Huge Increase in DStv Subscribers

The group increased its 90-day active linear pay-tv subscriber base by 1.4m to reach 20.9m households, split between 8.9m in South Africa and 11.9m in the Rest of Africa (RoA).

This represents an accelerated 7% growth year-on-year (YoY), driven by heightened consumer demand for video entertainment products, continued penetration of the mass market and an easing of electricity shortages in southern Africa.

Revenue was resilient, growing by 4% (4% organic) to R53.4bn.

This performance, coupled with a firm focus on cost containment and a R1.5bn (R2.7bn organic) reduction in trading losses in the Rest of Africa translated into a 28% (44% organic) increase in trading profit to R10.3bn.

Core headline earnings, the board’s measure of sustainable performance, was up a meaningful 32% YoY to R3.3bn, while free cash flow grew a solid 10% to R5.7bn.

The group reported R8.5bn in cash and cash equivalents at year-end. Combined with R4bn in undrawn facilities, this provides R12.5bn in financial flexibility to support dividends and growth initiatives.

“The COVID-19 pandemic taught us more about the art of the possible,” said Calvo Mawela, chief executive officer.

“We started the year confronted with severe disruptions to our programming schedules, bleak macro-economic forecasts for many of our markets and sharply weaker currencies. In the face of these challenges, our teams rallied together – this helped us deliver on all our key performance metrics and provide more value to our shareholders by declaring a R2.5bn dividend.“

The group continued its differentiation strategy by stepping up its investment in local content.

Despite production stoppages and travel restrictions brought about by the pandemic, it produced 19% more content than last year – a sizeable 4 567 hours.

As a result, the total local content library now exceeds 62 000 hours. Some 42% of the group’s general entertainment spend was on local content and it remains on track to reach its target of 45% by FY22.

To help manage US dollar-based costs, two major international content agreements (and several smaller ones) were renegotiated into South African rand (ZAR). The group also launched 11 new local language channels across sub-Saharan Africa, completed five new co-productions with global content producers and sold 16 of its series to international buyers.

In addition to compelling local stories, MCG continues to broadcast the best of sport. This year, the group renewed the rights to the English Premier League and UEFA Champions League and also secured broadcasting rights to the FIFA World Cup 2022 in Qatar.

On the international content front, it maintains mutually beneficial relationships with its studio partners, and has successfully added access to Netflix, Amazon Prime and more recently YouTube on its DStv Explora Ultra decoder.

In addition to the new products and services launched during the first half of the year (including Showmax Pro, DStv Communities, DStv Rewards and ADD Movies), the Group expanded its financial services portfolio, going beyond offering pure decoder insurance to include funeral cover, subscription waiver and debt waiver products.

“We have a highly engaged base of 20.9m subscribers and with an average of five people per household, this helps us reach approximately 100 million people. We see great opportunity to keep enriching the lives of our customers by expanding our entertainment ecosystem with innovative offerings that will also enhance our revenue prospects,” commented Mawela.


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Chinenye Anuforo of The Sun Newspaper Honored for Excellence in ICT Journalism

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Chinenye Anuforo, a distinguished journalist from The Sun Newspaper, has been recognized for her exceptional contributions to ICT journalism in Nigeria.

Chinenye Anuforo receiving the ATAEx Award presented by Mr. Gbolahan Awonuga, executive secretary of the Association of Licensed Telecoms Operators of Nigeria (ALTON)

Last week, she received the ICT Innovation Storyteller Award at the Africa Tech Alliance Excellence (ATAEx) Awards, celebrating her ability to craft compelling narratives that highlight the complexities and potential of the ICT sector.

“Chinenye’s dedication to her craft is evident in her insightful analysis and engaging storytelling,” said Mr. Chike Onwuegbuchi, co-convener of the ATAEx Awards.

“Her work has consistently illuminated the significant impact of technology on society, making her a deserving recipient of this award.”

The accolades continued as Anuforo was named the ICT Reporter of the Year at the Africa Digital Awards (ADA) just a week later.

This prestigious award further cements her status as a leading voice in the ICT industry.

Mr. Tayo Adewusi, Publisher/Coordinator of NIICF & ADA, who presented the award, praised Anuforo’s role in shaping public discourse on ICT issues.

“Her reports have not only informed but also inspired, making her a true champion of digital innovation,” he said.

Expressing her gratitude, Chinenye Anuforo stated, “I am deeply honored and humbled to receive these awards.

“I am grateful to my editors at The Sun Newspapers for their unwavering support and to the organizers of the ATAEx Awards and Africa Digital Awards for recognizing my work.

“It is a privilege to contribute to the growth of the ICT sector in Nigeria through journalism.”


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Flymate Travel Unveils Visadoc App to Enhance Travel Convenience

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Flymate Travel Limited, a pioneering travel solutions provider, has launched Visadoc, a cutting-edge travel app designed to streamline and enhance user experiences worldwide.

Visadoc

Visadoc simplifies Travel and enhancing convenience by empowering travelers to manage their journey from visa applications to booking accommodations and flights. Key features include:

– Seamless Visa Application Process: Easy application, documentation, and biometric scheduling
– Personalized Travel Recommendations: Tailored suggestions based on individual preferences
– Secure Electronic Payments: Convenient fee payments
– Real-time Travel Updates: Flight statuses, weather conditions, and travel advisories

Gbenga Badmus, CEO of Flymate Travel Limited, speaking at the launch on wednesday, explained that Visadoc is designed to offer customized services to the end users.

According to him, “Visadoc is designed to offer customized services to the end users. With its help, applicants can apply with ease by doing it themselves end to end.

“By completing the documentation process and waiting for the biometric capturing invite. Without putting a physical face to the agent’s office”.

Visadoc is available for download on the App Store and Google Play Store. The app is designed to cater to a wide range of travelers, including families, individuals, and business professionals.

“Families, Individuals with their specific needs and preferences, are an essential target audience for travel brands. Family travelers look for visas to destinations and accommodations that cater to the interests and safety of their children. They prioritize family-friendly activities, spacious accommodations, and convenient amenities,” said Abdullahi Yusuf, Project Manager at Flymate Travel Limited.

The target markets for a public travel tracking app can include frequent travelers, commuters, tourists, and individuals who must obtain their visa.

Flymate Travel Limited is committed to leveraging technology to enhance the travel experience and provide exceptional customer service. By utilizing data and user feedback, the company will continue to refine and improve the app to meet the evolving needs of travelers.

For more information about Flymate Travel Limited Contact:

Gbenga Badmus (CEO/MD) – [email protected], 07044132787
Abdullahi Yusuf (Project Manager) – [email protected], 08160253848
Eseigbe Godwin (Software Engineer) – [email protected], 09057379300


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Betland’s Impact: Dotun Ajegbile Drives Change in Underserved Areas

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In the rapidly evolving world of sports betting, Dotun Ajegbile, the visionary founder of Betland, has proven that business success and social responsibility can go hand in hand. As a Nigerian-American entrepreneur, Ajegbile has utilized his platform not only to revolutionize sports betting but also to drive transformative initiatives that uplift communities across Nigeria.

Under his leadership, Betland has spearheaded numerous corporate social responsibility (CSR) programs aimed at tackling unemployment and fostering youth empowerment. One of the standout projects is the “Betland Future Stars Initiative”, a nationwide program providing financial grants, training, and mentorship to young entrepreneurs in underserved areas. This initiative has enabled over 2,000 youths to launch their own businesses, creating a ripple effect of job creation and economic growth.

Ajegbile’s commitment to sports development is equally remarkable. Betland sponsors grassroots tournaments in football, basketball, and athletics, offering young athletes opportunities to showcase their talent on larger platforms. Many participants in these tournaments have gone on to secure scholarships and professional contracts, demonstrating the power of combining sports with community building.

Collaboration has been central to Ajegbile’s philanthropic strategy. Betland frequently partners with NGOs and government agencies to amplify its impact. Through a partnership with the EmpowerNG Initiative, Betland has distributed scholarships to underprivileged students, ensuring that education remains accessible despite economic challenges.

Speaking about his philanthropic vision, Ajegbile says, “As a company, we believe in more than profit. Betland is committed to building a future where every young person in Nigeria has the tools to succeed, whether through sports, education, or entrepreneurship.”

Ajegbile’s philanthropic efforts highlight his deep-rooted belief in giving back to the society that helped shape his journey. By bridging the gap between corporate success and community impact, he is not just redefining sports betting in Nigeria but also inspiring a new wave of socially responsible entrepreneurship.


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