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MultiChoice Reportedly One Percent Shy of Owning Half Of BetKing

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MultiChoice South African entertainment company, has reportedly bought an additional 29% for $281.5m, a move that means it’s 1% shy of owning half of the sports betting and gaming company.

MultiChoice Reportedly One Percent Shy of Owning Half Of BetKing

Recall that Multichoice had seven months ago bought a 20% stake of Betking for a reported $100 million, it came as a surprise to many.

BetKing is the trading name of Blue Lake Ventures Limited, a pan-African sports betting and entertainment business with major operations in Nigeria.

The value of MultiChoice’s initial investment in BetKing was said to be worth more than $100 million.

On this move, Multichoice is expanding the entertainment options available to consumers; investing in sports betting and gaming (BetKing) is a great way to expand their suite of entertainment services.

According to Multichoice: “Consumers have a growing abundance of entertainment options available to them. It is therefore important for MultiChoice to maintain its relevance and grow its share of engagement time and consumer spend by expanding its entertainment platform with a more comprehensive offering and a greater number of products and services.”

The Company added that pursuing an adjacency such as sports betting creates a natural extension to its video entertainment platform to further enhance its product offerings.

In other words, sport betting augments the company’s business given sports is a major revenue source.

Widely known as one of the leading sports betting sites in Nigeria, BetKing was founded by CEO Byron Petzer and Adekunle Adeniji, who once served as Bet9ja’s virtual product manager.

As at December 2020, Betking grew it’s annual revenue by 42% from $54.7 million in 2019 to N77.9m and it’s net asset value stood at $100.2 million.

Africa accounts for only 2% of global sports betting revenue.

According to Technavio, between 2020 and 2024, the sports betting industry is expected to grow by more than $134 billion, at a Compound Annual Growth Rate of 10%.

 

 

 

 

 

 


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Aero Contractors Celebrates Long-Serving Employees at Award Ceremony

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Aero Contractors recently hosted its Long Service Award Ceremony, a momentous event dedicated to honoring distinguished retirees for their exceptional service and unwavering commitment to the organization.

Aero 737.jpg

The ceremony, which celebrated loyalty and excellence, featured the presentation of recognition plaques and the disbursement of retirement benefits to the honorees. Among those celebrated were:

•Capt. Gerald Nmoka

•Stephen Kukoyi

•Promise Amadi

•Victor Aitanun

•Nwankwo Stephen N.

The management of Aero Contractors expressed profound gratitude to these outstanding individuals, whose dedication and expertise have significantly contributed to the airline’s growth and success over the years.

Speaking at the event, Aero Contractors’ Managing Director, Capt. Ado Sanusi, underscored the importance of celebrating excellence and fostering a culture of recognition within the organization. “Our retirees have exemplified the highest standards of professionalism and commitment. Their legacy will continue to inspire our team as we build a brighter future for Aero Contractors,” he stated.

As a leading airline in Nigeria, Aero Contractors remains committed to supporting its employees and creating an environment that values their contributions. This commitment reflects the company’s ongoing efforts to uphold its reputation as a trusted, value driven airline”


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NAFDAC Dismisses False Claims of Approving ‘Lung-Cleansing Tea’

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National Agency for Food and Drug Administration and Control (NAFDAC) has refuted claims that it approved a herbal product marketed as “lung-cleansing tea” for smokers.

Mojisola Adeyeye, director-general of NAFDAC, in a statement on Saturday, December 14, clarified that the product, identified as Lungitox (Smokers Pride), was never approved and had its registration application rejected due to its unsubstantiated health claims.

“The attention of the National Agency for Food and Drug Administration and Control (NAFDAC) has been drawn to a misleading video circulating on social media, alleging that NAFDAC approved the registration of a herbal product claiming that ‘smoking is healthy’ when used with their product,” the statement read.

“NAFDAC wishes to categorically state that this claim is false and completely unfounded.

“The product in question—Lung Detox Tea or Lungitox (Smokers Pride) or any similar product—is NOT registered by NAFDAC.

The unscrupulous individual behind this product had applied for registration, but the application was outrightly rejected due to the unsubstantiated and dangerous claim that smoking could be made ‘healthy’ by consuming the product.”

NAFDAC reaffirmed its commitment to protecting public health and ensuring that only safe and scientifically validated products are approved.

“NAFDAC remains steadfast in its mandate to protect public health and ensure that only safe, effective, and scientifically substantiated products are approved.

“We condemn any attempt to mislead or endanger the public with false claims.

“The public is advised to disregard this video and report any suspicious claims or products to the Agency through our official channels.”

Adeyeye provided contact information for reporting such claims, urging Nigerians to remain vigilant.

“For further inquiries or reports, please contact NAFDAC via 0800-162-3322, email [email protected], or visit our website at www.nafdac.gov.ng.

NAFDAC will continue to take decisive action against any individual or entity attempting to violate public health standards.”

The agency reiterated its dedication to ensuring that all products in the Nigerian market meet the required safety and efficacy standards.


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Coalition Drags Reuben Abati, Arise TV to NBC over Anti-Igbo Remarks

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A coalition of media organisations, comprising the League of Public Affairs Analysts and South East Media Professionals Network, has called for disciplinary action against Arise TV and Dr. Reuben Abati, show host, over alleged inciting remarks against the Igbos.

Coalition Drags Reuben Abati, Arise TV to NBC over Anti-Igbo Remarks

This was contained in a formal petition to the National Broadcasting Commission (NBC), signed by Ambrose Igboke.

According to the group, Arise TV and Dr. Reuben Abati allegedly made a divisive comment against the South East and Igbos during a TV Breakfast Show on November 21, 2024.

Recall that during the November 21 Breakfast Show, Abati had said on Arise TV, “It is a shame that the same Igbos who are so industrious that they’re all over and they do well in other parts of Nigeria.

“You go there as a non-Igbo man to go and buy land, you’ll be told that you don’t belong, even as an in-law. These are the issues in my view.”

The journalist and former Presidential aid referred to an incident reportedly involving the former Minister of Information, T.O.S Benson, who sought to purchase land in Igbo land for his wife.

The anti-Igbo comment has resulted in criticism and outburst from different groups.

They argued in the petition that there are “concerns about remarks made by Dr. Abati, which perpetuated harmful stereotypes against the Igbo community.

“These statements have been further amplified by extremist groups like Lagospidia, exacerbating ethnic tensions in an already delicate socio political climate.”

The media professionals said, “Dr. Abati’s reference to the Igbo people in a broad, negative context risks inflaming ethnic tensions and promoting dangerous generalizations. This kind of action was what ignited the Rwandan genocide where the Hutu and Tutsi engaged in a fratricidal war of extermination. It all started with a radio

“His comments were quickly weaponized by groups known for anti-Igbo sentiments, fueling divisive narratives that undermine national unity.

“Dr. Abati’s hostile response to a colleague, Ms. Ojy Okpe, on the following day’s broadcast, demonstrated a troubling disregard for professional journalistic standards.

” The remarks and behavior constitute a breach of the Nigerian Broadcasting Code, which prohibits content that incites division or promotes hate speech.”

The petitioners called for a thorough review of Abati’s remarks and the editorial lapses that allowed such conduct to air.


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