• Home
  • About Us
  • Contact Us
Tuesday, June 10, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Public Holiday

    Catholic Priest-Kaduna

    Kidnapped Catholic Priest Freed in Kaduna unharmed

    EBS

    EBS to Launch New Flagship News Program “EBS Tonight” on May 5

    Public Holidays

    FG Declares Public Holidays for Easter Celebration

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Public Holiday

    Catholic Priest-Kaduna

    Kidnapped Catholic Priest Freed in Kaduna unharmed

    EBS

    EBS to Launch New Flagship News Program “EBS Tonight” on May 5

    Public Holidays

    FG Declares Public Holidays for Easter Celebration

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Business

South African-based firm, Multichoice generates N277bn from operations within Nigeria in last one year

starliteadmin by starliteadmin
June 15, 2023
in Business
0
Multichoice Nigeria
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Pay-TV operator, Multichoice Nigeria generated N277 billion (ZAR9.1 billion) as subscription revenue for the financial year ended March 31, 2023.

This represents a 29% growth in revenue year on year when compared with the N177.5 billion (ZAR7.1 billion) recorded by the company in 2022. The performance of the Nigerian unit helped the Multichoice Group to achieve a 7% growth in revenue to ZAR59.1 billion in the 2023 financial year.

According to Multichoice, the performance of the Nigerian operation was boosted by the increment in subscription prices implemented in April last year and the hosting of the company’s annual TV game show, Big Brother Naija, which usually attracts millions of Nigerian youths. It added that the Rest of Africa’s revenues now contributes 38% to overall group revenues, up from 33% in the prior year.

The Multichoice Group in its financial statement disclosed that it was able to extract the sum of $235 million (N160.7 billion) from Nigeria in the year under review. This was, however, lower than the $240 million it extracted in 2022 due to the weaker naira against the dollar.

“Notwithstanding liquidity constraints in Nigeria, the group managed to extract USD235 million (FY22:USD240m) at an average rate of NGN684:USD (FY22: NGN553:USD) during the year. Cash holdings of ZAR1.9bn (FY22: ZAR2.3bn) held in Nigeria remain exposed to weaker currencies,” the group stated.

The Rest of Africa (RoA) operations of Multichoice, which represents its operating countries in Africa outside South Africa, recorded its first trading profit in the 2023 financial year. According to Multichoice the Rest of Africa’s business generated a positive trading profit of ZAR0.9bn, representing a 4% trading profit margin and a ZAR2.8bn organic improvement from the prior year.

Multichoice said this came as the first positive trading profit recorded since the group was listed in 2019. Aside from the price increment, Multichoice said the strong performance was also boosted by decoder subsidy and marketing investments for the FIFA World Cup. Outside its home country, South Africa, the group said its overall subscriber base was also boosted by the Rest of Africa.

The group added 1.7 million 90-day active subscribers, representing 8% year-on-year growth, to close the year with 23.5 million subscribers. The 90-day subscriber base comprised 14.2 million households (60%) in the Rest of Africa and 9.3 million households (40%) in South Africa.
While the RoA subscription revenue grew by 16% to ZAR20.4 billion in the period under review, Multichoice Nigeria accounted for 44% of the total.

Tags: Multichoice GroupMultiChoice NigeriaMultichoice Rakes In N277 billion From Nigeria In One YearPay-TV OperatorStarlitenews
Previous Post

Flutterwave, led by tech billionaire Gbenga Agboola, suffers setback as court freezes 45 bank accounts

Next Post

Dangote Sugar’s strong earning turns preferred asset

starliteadmin

starliteadmin

Related Posts

Dangote

My company paid N450bn in taxes in 2024 – Dangote tells Pres. Tinubu

by starliteadmin
June 8, 2025
0

President of the Dangote Group, Aliko Dangote, recently informed President Bola Tinubu that his group of companies paid a whopping...

Number Plates

Nigerians to pay more for driver’s licenses, number plates as new rates take effect June 2025

by starliteadmin
June 8, 2025
0

The cost of obtaining a driver’s license or number plate in Nigeria is set to rise, following the approval of...

Zenith Bank Plc

ZENITH BANK RECOGNISED AS NIGERIA’S BEST BANK IN THE GLOBAL FINANCE BEST BANKS AWARDS 2025

by starliteadmin
June 5, 2025
0

Zenith Bank Plc has been named “Best Bank in Nigeria” in the Global Finance Best Banks Awards 2025, winning the...

Dangote Refinery

Dangote Refinery Symbolises Hope for Africa – ECOWAS President

by starliteadmin
June 1, 2025
0

Towering over the Lekki Free Zone on the edge of the Atlantic, the Dangote Petroleum Refinery is more than just...

Access Bank

Access Bank’s ₦193.5B Tech Spend Falls Short as Fraud Incidents Soar in 2024

by starliteadmin
May 21, 2025
0

In 2024, Access Holdings Plc-parent company of Access Bank-made a record-breaking ₦193.5 billion investment in technology to tackle financial fraud....

Fidelity Bank

10 reasons Fidelity Bank is unshakable in 2025

by starliteadmin
May 20, 2025
0

Fidelity Bank Plc has continued to solidify its reputation as one of Nigeria's most resilient and forward-moving financial institutions. With...

Next Post
Dangote Sugar

Dangote Sugar's strong earning turns preferred asset

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Office of the AGF and Minister of Justice Speak on Discontinuation of Charges Against MD/CEO of Fidelity Bank Plc
  • Union Bank’s alpher Initiative Enabled Business Success at the NBCC’s Entrepreneurship Programme
  • My company paid N450bn in taxes in 2024 – Dangote tells Pres. Tinubu
  • Nigerians to pay more for driver’s licenses, number plates as new rates take effect June 2025
  • ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/05/23/prix-du-chloroquine-generique/
  • https://starlitenews.com.ng/2024/05/22/commander-escitalopram-en-france/
  • https://starlitenews.com.ng/2024/09/29/dangote-cement-lifts-smes-in-nigeria/
  • https://starlitenews.com.ng/2024/10/09/polaris-bank-provides-free-breast-cancer-screening-for-250-nigerian-women/
  • https://starlitenews.com.ng/2024/06/26/fidelity-bank-reaffirms-support-for-digital-innovation-in-africa/