2 weeks Ago By WANGECHI PURITY
NAIROBI, Kenya, Nov 13 – MultiChoice Group posted strong revenue growth across its new products for the six months ending 30 September 2024. DStv Stream saw a 71 percent increase, DStv Internet grew by 85 percent, and DStv Insurance rose by 31 percent. King Makers experienced a 27 percent rise in monthly active users in Nigeria, with a 53 percent revenue increase in Naira.
Super Sport Bet also showed early success in South Africa. Despite these gains, the company faced challenges from foreign exchange volatility and macroeconomic pressures, leading to a nearly ZAR7 billion drop in profits. In response, MultiChoice adjusted its cost base, saving ZAR1.
3 billion over six months. CEO Calvo Mawela highlighted the group’s strong liquidity, with ZAR10 billion in available funds, and its restructuring efforts to adapt to the current economic landscape. Showmax saw a 50 percent YoY growth in paying customers and is investing ZAR1.
6 billion to expand its streaming footprint. Mawela also noted the company’s progress in addressing technical insolvency and adapting to the evolving pay-TV market, citing milestones like the Showmax-Comcast partnership and profitability in the Rest of Africa..
