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Naspers is making Multichoice a standalone entity – Strategy – Pulselive.co.ke

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Naspers is listing its video entertainment business separately on the Johannesburg Stock Exchange (JSE) and simultaneously to unbundle the shares in this business to its shareholders.

The new company will be named MultiChoice Group and will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto.

Bob van Dijk, Naspers CEO, while commenting on the transaction, said, “This marks a significant step for the Naspers Group as we continue our evolution into a global consumer internet company. Listing MultiChoice Group via unbundling aims to unlock value for Naspers shareholders and at the same time create an empowered, top 40 JSE-listed African entertainment company.

What does this mean?

This will allow Africa’s biggest pay-TV business by subscribers, Multichoice, to free up cash for the unit to compete with fast-growing Netflix and other streaming services.

MultiChoice’s DSTV boasts of strong fans in Sports – football, cricket and Formula One.

In the last financial year, the business generated revenue of R47.1 billion and trading profit of 6.1 billion.

Imtiaz Patel, Video Entertainment CEO, said, “Listing and unbundling MultiChoice Group is intended to create a leading entertainment business listed on the JSE that is profitable and cash generative. We offer an unmatched selection of local and original content, as well as a world-class sports offering. Our leadership team is diverse, experienced and well-positioned to take the company forward. I am particularly pleased that this transaction will further enhance the value for Phuthuma Nathi shareholders.”


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DSTV office

(CollegeTrap)

 

MultiChoice Group is expected to be unbundled with limited leverage, providing it with the necessary financial flexibility to pursue growth opportunities in African video entertainment.

Tough times ahead with Netflix

In July 2018, the African cable TV asked the South African government to ensure level playing field among pay-TV operators to compete with over-the-top players. It lost about 41,000 high-end subscribers who use its premium offer last year owing to threats posed by online streaming giants.

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Regulatory hurdles on subscription rates

In Nigeria, Multichoice is also facing consumers’ hard stick on the recently increased subscription rates.

The Consumer Protection Council (CPC) sued the company for violating the agreement it reached with the Nigerian government after an initial price hike in 2015.

Also from Business Insider Sub-Sahara Africa:



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Ruto’s Mt Kenya hustlers meet to fine-tune bottom-up economic model » Capital News

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NAIROBI, Kenya, May 9 – Deputy President William Ruto on Saturday hosted leaders from Mt Kenya region to discuss how to re-engineer the country’s economy.

Ruto said the meeting which was a follow-up to a similar forum held in Maasai Mara on May 1 deliberated on collaborative efforts to re-engineer government economic approach to one that promotes enterprise and fosters the empowerment of ordinary Kenyans.

“Through the ongoing consultations covering all regions and all sectors of the economy, we anticipate the generation of more jobs and expanded opportunities for those in the lower cadre will rid our country of poverty,” he tweeted.

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During an engagement with three representatives from each of the 11 counties from Mt Kenya region, it was agreed that more targeted and inclusive sessions should be held with Hustler Movement representatives, Members of the County Assemblies, religious and business leaders to follow as the country opens up.

The DP has been building the Hustler Movement, a political group championing for a bottom-up economic model, as his preferred platform for the 2022 presidential run.

At Maasai Mara, Ruto was accompanied by economist David Ndii who briefed the legislators on DP’s proposed ‘Bottom-Up Economic model’ which seeks to uplift the common citizen and provide them with an opportunity to have a say in government.

The DP on Friday held another meeting with over 50 individuals including a section of Mt Kenya where the politicians and experts from different sectors discussed economic revival, a subject Ruto has been propagating since the pandemic broke out in the country.

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Is Orengo charting his path away from Raila?

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History of intense rivalry between him and Opposition leader, alleged sabotage in 2013 and 2017 elections and talk of betrayal ahead of 2022.

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Police Deploy Chopper to Rescue Students Lost in Forest for 4 Days –

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Three students who went missing after a forest adventure in Mt Kenya, Karatina, Nyeri County, were finally rescued on Saturday after four days in the jungle.

Four days without food, the boys told members of the press that they survived by the grace of God.

17-year-old Anthony Muhoro, Jackson Karuri, 17, and David Mukoma Kinyua, 20, went missing on May 4.

Muhoro is a Form Three student at Gitunduti Secondary School, Karuri is also a Form Three but at Ihwagi Secondary School while Kinyua is a student at Nyeri National Polytechnic.

Also found alive were two dogs that were in the company of the three when they were reported missing.

Read: Missing Businesswoman Caroline Wanjiku Maina’s Body Found In A Kajiado Mortuary

The rescue team comprised of police officers who after four days of futile search deployed a National Police Service chopper to locate the students who were on the verge of despair.

In the Saturday search, the Nation reports, the officers teamed up with Kenya Wildlife Service and Kenya Forest Service rangers to comb the forest in search of the students.

In an interview with the local publication, Muhoro revealed that they were hiking when they lost their way back home.

“It was by the grace of God that we survived for four days without food and other necessities. We thought we were going to die and kept praying,” Muhoro said in a phone interview.

Read Also: Missing Thika Millionare Julius Gitau Found Alive – Police

“We literally groped in the dark after losing our way back home. We survived on water and wild fruits since we had not carried any food.”

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According to the student, the trio entered the forest through Ragati gate but couldn’t trace their way home hours later.

“We found ourselves deep into the dense woods. I don’t know how far it was from the edges of the forest but we were exhausted,” he said.

“We could not even tell the time since it was constantly dark. That is when panic set in.”

They could not communicate with anyone back at home as their mobile phones lost signals.

Read Also: Son To Murdered Kiambaa Family Reported Missing

“We started moving in the forest, literary going in circles in a desperate attempt to find our way out,” Muhoro said.

Days later as they moved around the forest with the hope of finding an exit, they ‘miraculously’ met some police officers and forest rangers who alerted the rest of the search team.

Mathira East Police Commander James Baraza, who led the operation, said the trio’s disappearance was reported at Karatina Police Station the same day they went missing and a search operation launched immediately.

Email your news TIPS to [email protected] or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

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