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Multichoice Delivers Steady Margins Despite Content Cost Normalisation

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3 years ago

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MultiChoice Group

The group’s linear pay-TV subscriber base (measured on a 90-day active basis) increased by 0.9m to reach 21.8m households

JOHANNESBURG, South Africa, June 9, 2022/APO Group/ — MultiChoice Group (MCG, or the group) (www.MultiChoice.com), Africa’s leading entertainment company, delivered steady margins for the year ended 31 March 2022 (FY22).

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“Reduced losses in the Rest of Africa (RoA), a rebound in advertising revenues and a continued focus on cost containment enabled us to absorb the R1.1bn impact of a normalisation in content costs as live sport returned and we resumed our local content production post the COVID-19 lockdowns,” says Calvo Mawela, Chief Executive Officer.

“We continued to enhance our video entertainment offering and expanded the variety of services offered to our customers as we grow our entertainment ecosystem,” he added.

The group’s linear pay-TV subscriber base (measured on a 90-day active basis) increased by 0.9m to reach 21.8m households, comprising 9m in South Africa and 12.8m in the RoA. The 5% growth year-on-year (YoY) is subdued due to the tough economic environment and elevated subscriber growth during  COVID-19 related lockdowns in the previous year.

Here are a few highlights:

  • Revenue: ZAR55.1bn up 3% (up 7% organic)
  • Trading profit: stable at R10.3bn (up 1% organic, due to absorbing cost normalisation)
  • Core headline earnings: R3.5bn (up 6% as Forex impact was less negative))
  • Free cash flow: R5.5bn (down 3%, due to one-off prepayments)
  • Dividend: R2.5bn 565 ZARc per share (±4% yield)

MCG continued to pursue its differentiation strategy through local content, stepping up its local content production by 32% YoY to 6 028 hours and bringing its local content library close to 70 000 hours. Local content accounted for 47% of total general entertainment content spend and the group remains on track to achieve a target of 50% by 2024.

Seven major new channels launched, including two Portuguese-focused channels in Angola and Mozambique. In South Africa, the group’s co-productions such as Reyka and Recipes for Love and Murder were broadcast to critical acclaim and international interest.

SuperSport delivered world class productions given a bumper calendar of major sporting events. A record number of viewers tuned into Euro 2020, the British and Irish Lions rugby tour and the Tokyo Olympics. SuperPicks, a free-to-play predictor game and the group’s first product collaboration with KingMakers, was launched in Nigeria in August 2021 and already has 0.5m registered users. SuperSport Schools, now 100% owned by the group, continues to grow rapidly and broadcasted 5 249 live games of schools sport during FY22.

Growth in Connected Video users on the DStv app and Showmax service is outpacing the market. Paying Showmax subscribers were up 68% YoY, whilst overall monthly online users of the group’s connected video services increased 28% YoY. A major driver has been the focus to localise by expanding local payment channels and enabling local billing in various markets. In addition, local content was stronger than ever with titles like DevilsDorp, the Real Housewives franchise and The Wife. Showmax Pro delivered an enhanced customer experience, which included the Tokyo Olympics, Euro 2020 and every English Premier League game.  

We continued to enhance our video entertainment offering and expanded the variety of services offered to our customers as we grow our entertainment ecosystem

On the product side, the announcement of DStv as official launch partner of Disney+ in South Africa is a further extension of the group’s aggregation strategy, which aims to bring customers more content, and convenient access in one central place via DStv’s connected devices.

DStv Internet, which was launched in September 2021, is growing strongly. The DStv Rewards program, which supports customer retention and has been successful in reducing dormancy, continues to gain traction with close to a million customers. Digital adoption continues to track well with around 75% of customer touch-points now being managed through the group’s self-service channels. Due to the ongoing global silicon chip shortage the DStv Streama launch has been delayed and is now expected to launch in the first half of the next financial year.

SEGMENTAL REVIEW

South Africa

The South African business faced an increasingly difficult consumer climate, with FY22 growth rates impacted by rising unemployment levels, intermittent loadshedding and a disruption caused by the July riots in Durban and Johannesburg.

Revenue increased 4% to ZAR35.6bn, supported by the rebound in advertising revenue and a 1% increase in subscription revenues, driven by subscriber growth in the mass market and the uplift from annual price increases. The return of live sport and other value adding initiatives contributed to reducing churn in the Premium base relative to the prior year. Trading profit declined 1% to ZAR11.0bn as the ongoing cost-optimisation programme only partially offset consumer pressure in the middle market and the normalisation of content costs and sales and marketing expenses.

Rest of Africa (RoA)

The Rest of Africa business benefited from the popularity of local content such as Big Brother Naija and live sporting events. Whilst revenue of ZAR17.9bn reflects a strong 14% organic increase, it is only 4% higher than the prior year due to the impact of translating Rest of Africa’s USD revenues at a stronger ZAR for reporting purposes. Trading losses amounted to ZAR1.2bn, which is a 24% improvement YoY on an organic basis. Local currencies held up better against the USD than prior years, resulting in an overall headwind on reported results of only ZAR0.1bn (FY21: ZAR1.2bn). Although liquidity challenges continued in Nigeria, the group successfully repatriated cash throughout the year, albeit at a premium to the official exchange rate.

Technology segment

Irdeto, was impacted by global silicon shortages affecting supply chains, as well as COVID-19 related disruptions in large markets such as India. Revenues of ZAR1.5bn, down 17% YoY (9% organic), were further depressed by the impact of a stronger ZAR upon translation from USD. The segment contributed ZAR0.5bn to group trading profit with margins strong at 33%. Irdeto gained additional market share in its core media security business by winning four new Tier-1 customer. It also grew its device security business, expanded its deployment of connected vehicles with Hyundai, and started new projects like providing security software to large logistics companies. 

KingMakers

On 29 October 2021, the group increased its shareholding in KingMakers from 20% to 49.23%. KingMakers delivered USD136m (ZAR2.0bn) in revenues, representing robust growth of 74% YoY. It recorded a loss after tax amounting to USD19m (ZAR0.3bn) as increased revenues were offset by investment in people, product and technology to further scale the business. Although revenues are still primarily generated in Nigeria, the group is now also active in Kenya, Ghana and Ethiopia.

Future Prospects

In the year ahead, the group will continue to drive penetration of its video entertainment services across the African continent by offering customers an array of unique and rich media content delivered in a convenient and cost effective way. Local content and select sporting events such as the English Premier league, UEFA Champions League and the 2022 FIFA World Cup will contribute to the growth in linear and streaming services.

Returning the Rest of Africa business to profitability in FY23, maintaining strong cash flows to support a healthy balance sheet and pursuing innovative products and services remain key pillars for long term value creation.

“As a platform of choice, our group will look to further expand our entertainment ecosystem by identifying growth opportunities that leverage our scale and local capabilities,” says Mawela. “We will continue to strive to be a trusted partner for our customers’ ever-evolving needs, enriching their lives by delivering entertainment and relevant consumer services underpinned by technology.” 

Distributed by APO Group on behalf of MultiChoice Group.

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Not Just a Sporting Event, but Also a Technological Test: Insights into the World’s First Human-Robot Co-Run Marathon

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16 hours ago

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April 10, 2025

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E-Town

BEIJING, CHINA – Media OutReach Newswire – 9 April 2025 – A scene even science fiction has yet to depict—humans and humanoid robots running side by side in a half-marathon — will become reality on ​April 13 in Beijing E-Town. Every spring, marathons sprout across China like bamboo shoots after rain. In Beijing, the world’s only “Dual Olympic City” and a global hub for science and innovation, the ​2025 Beijing E-Town Half-Marathon and Humanoid Robot Half-Marathon, scheduled for ​April 13, will pioneer a “sports + technology” format. For the first time, humanoid robots will register alongside human runners, start simultaneously, and share the 21.0975-kilometer course in an unprecedented fusion of innovation.

Li Quan, Member of the Party Working Committee and Deputy Director of the Administrative Committee of Beijing E-Town, revealed that the event has already attracted over ​30,000 human applicants. On the robotics front, global humanoid robot companies, research institutes, robotics clubs, universities, and other innovators have shown immense enthusiasm, with registration numbers soaring.

Notably, to ensure safety, ​physical barriers will separate human and robot runners, with distinct race rules and completion time standards. Yet this groundbreaking human-robot collaboration undeniably signals a bold leap for “technology stepping into reality.”

During a visit to training facilities, reporters observed teams racing against time to upgrade robotic components and intelligence levels, tackling technical challenges to enhance mobility. Some competing robots now reach a ​top speed of 12 km/h. To mitigate the physical strain of road running, some models have added shock-absorbing mechanisms, while others wear customized running shoes.

Liang Liang, Deputy Director of the Beijing E-Town Administrative Committee, explained that as the event is a ​global first with no prior experience or data to reference, both logistics and participants face significant hurdles. To support the robots, organizers have deployed dedicated support vehicles and robotic aid stations. Additionally, they are working closely with each team to refine technology, troubleshoot functions, and achieve developmental goals through pre-race collaboration.

At the ​2024 Paris Olympics, artificial intelligence revolutionized real-time data monitoring, 3D motion capture, and referee decision-making—boosting athlete training efficiency and competitive fairness while showcasing how technology elevates life’s value.

The upcoming human-robot “half-marathon” collaboration represents a ​new frontier where the humanoid robotics industry intersects with humanity, sports, and endurance challenges. Industry experts note that half-marathons strike an ideal balance between “challenge and accessibility”: the event’s low entry barrier contrasts with its rigorous test of physical stamina and mental resilience, culminating in profound personal achievement. By completing the same course, humanoid robots aim to validate industrial progress and refine human-centric technologies.

“This isn’t just a sports competition—it’s a ​stress test for technological breakthroughs and industrial growth,” asserted Xiong Youjun, CEO of the Beijing Humanoid Robot Innovation Center.

A participating robotics executive stated that “marathon-running robots” could accelerate technical maturity, spur industry standards, and drive innovation. On one front, the effort pushes upgrades in high-torque motors, flexible joints, and wear-resistant materials. On another, running’s demand for full-body coordination forces tighter integration of hardware-software systems and deeper partnerships between manufacturers and AI algorithm firms.

These advances promise to unlock ​transformative applications: deploying humanoid robots in disaster relief, long-range inspections, hazardous operations, smart manufacturing, and even elderly home care. As capabilities grow, such robots could also serve as AI training partners for elite athletes, “giving back” to sports development.

Industry experts emphasize that humanoid robots—comprising thousands of components—still face significant hurdles in maintaining stable, prolonged running.

Xiong Youjun explained, “Real-world road conditions differ vastly from lab environments.” To complete the race, robots require ​high-density integrated joints and bodies capable of enduring long distances with efficient heat dissipation. Second, precise coordination of all joints is critical for running, positioning, and dynamic obstacle avoidance—a test of core algorithm development and adaptability. Third, the marathon’s demands on stability, reliability, and battery life are immense, with slopes, turns, and uneven terrain pushing machine performance to its limits.

Given ​persistent technical challenges requiring breakthroughs in industrial development, alongside the disruptive impact of complex outdoor environments on robotic operations, current capabilities allow robots to run alongside humans but not truly compete with them. Thus, this event functions more as an ​industry dialogue and a ​robotic stress test than a traditional race.

For human participants and spectators, sharing the track with robots offers sensory thrills and intellectual expansion. These benefits are concrete: the “constructive interplay” between technology and society clarifies the boundaries of human-robot collaboration, reinforces the principle of “technology for humanity,” and accelerates the shift from ​coexistence to ​co-prosperity.

“As the essence of this event, humanoid robots ‘running marathons’ symbolize humanity’s imagination and dreams in motion—that’s the ultimate highlight,” said Li Quan. “Regardless of rankings or speed, the footprints left by these robots at the finish line hold greater value than any medal. The 21-kilometer course will end, but our quest for human-robot synergy never will.”

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Ghana’s Minister of Lands and Natural Resources to Speak at Mining in Motion Conference

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1 day ago

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April 9, 2025

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Critical Minerals Africa

Mining in Motion will feature Hon. Armah-Kofi Buah, Minister for Lands and Natural Resources in high-level panel discussions on trends and opportunities within the gold mining sector

CAPE TOWN, South Africa, April 9, 2025/APO Group/ —

The Mining in Motion 2025 Summit is pleased to announce the participation of Hon. Emmanuel Armah-Kofi Buah, Minister for Lands and Natural Resources, Ghana as a keynote speaker.

Held under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Impact, the summit brings together Ghana’s policymakers, gold mining stakeholders and international investors to explore strategies for unlocking Ghana’s full mining potential.

Minister Buah’s participation will be instrumental in highlighting opportunities across Ghana’s gold mining value chain, discussing regulatory reforms designed to attract new investments and promoting local content development. The event will showcase Ghana’s initiatives to formalize and strengthen the artisanal and small-scale gold mining (ASGM) sector.

Under the leadership of Hon. Bauh, Ghana’s Ministry of Lands and Natural Resources has driven the growth of the ASGM sector and its contribution to economic growth and community development. The sector employs over one million people and has generated $5 billion in gold export revenue in 2024, strengthening the mining sector’s contribution to revenue generation.

In partnership with the World Bank, the Ministry of Lands and Natural Resources is implementing the Ghana Landscape Restoration and Small-Scale Mining Project to empower District Mining Committees and formalize the ASGM sector. Additionally, Ghana is establishing a Gold Board to improve access to finance and markets for small-scale miners. The Cooperative Mining Policy of 2024 further strengthens the sector by fostering community mining cooperatives and enhancing their technical and financial capacity.

Minister Buah will use the summit as a platform to position Ghana as a model for ASGM formalization and sustainable sector growth. Beyond panel discussions, he will also participate in exclusive networking sessions and high-level meetings with global investors, exploration and production firms, government representatives and key mining stakeholders. These engagements will facilitate deal signings and partnerships aimed at accelerating the expansion of Ghana’s mining sector.

Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting ASGM and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MiningInMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org.

Distributed by APO Group on behalf of Energy Capital & Power

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South Africa Approves Renewable Energy Masterplan, Targeting Enhanced Energy Security

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1 day ago

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April 9, 2025

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African Energy Week

African Energy Week: Invest in African Energies 2025 will examine the impact the South African Renewable Energy Masterplan will have on the country’s power generation landscape

CAPE TOWN, South Africa, April 9, 2025/APO Group/ –The South African Cabinet has approved the South African Renewable Energy Masterplan (SAREM) for implementation, targeting energy security and broader industrial growth. The plan seeks to address challenges associated with local capacity, infrastructure and investment by providing a roadmap for developing renewable energy and battery storage technologies. For investors, the plan identifies a clear pathway to advancing power projects as South African electricity demand is expected to rise two-fold by 2040.

The upcoming African Energy Week (AEW): Invest in African Energies 2025 – taking place September 29 to October 3 – will examine the impact the SAREM will have on the country’s energy mix. Uniting African government and policymakers with energy operators and investors, the event seeks to drive investment in African energy, in alignment with broader goals of making energy poverty history.

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

South Africa targets ambitious growth across its renewable energy market, striving to strengthen grid resilience through large-scale investments in generation and transmission infrastructure. Led by policies such as the Integrated Resource Plan (IRP) – revised in 2023 – the country envisages 29.5 GW of new capacity by 2030. Of this, 14.4 GW will be derived from wind while 6 GW comes from solar. The latest procurement round of the IRP targets 6.8 GW of renewable energy, 3 GW of natural gas and 1.5 GW of coal.

To realize these goals, the SAREM aims to leverage rising demand for renewable energy and storage technologies, with a focus on solar, wind, lithium-ion battery and vanadium-based battery technologies to drive industrial development in South Africa. The masterplan is anchored on four primary areas: supporting local demand for renewable energy and storage by unlocking system readiness; driving industrial development by building renewable energy and battery storage value chains; fostering inclusive development by driving transformation of the industry; and building local capabilities in terms of skills and technological innovation.

The SAREM is expected to fuel the already-growing South African renewable energy market. According to the African Energy Chamber’s State of African Energy 2025 Outlook, South Africa – alongside Egypt – is expected to continue leading Africa’s power generation in 2025. The continent has over 500 GW of renewable energy capacity in concept phase, 80% of which are in the North African region and South Africa. South Africa is also one of several countries leading in nuclear-based power generation. The SAREM will support growth by facilitating partnerships across the value chain, implementing targeted training programs while addressing challenges associated with regulatory barriers. While the SAREM provides significant benefits to the renewable energy landscape, Cabinet has directed that additional work be done on the masterplan to incentivize investors to fund projects. This includes the development of green hydrogen to meet international obligations of 5% blended fuel in aviation and maritime sectors by 2030.

During AEW: Invest in African Energies 2025, a multi-track program will explore how policies such as the SAREM will shape Africa’s energy landscape. A dedicated Energy Transition stage will investigate Africa’s strategic approach to driving a just transition, tackling key topics including Energy Security in Africa; Driving Local Value; Scaling-up Renewable Energy; and many more. A Powering Africa stage will address fundamental challenges and opportunities surrounding Africa’s electricity market. For South Africa, panel discussions on Bridging the Electricity Gap; Energy Efficiency; Strengthening Public and Private Sector Collaboration; Energy Diversification, and more, will identify opportunities for investors and project developers. Meanwhile, an Invest in African Energies: Country Spotlight on South Africa will examine the country’s energy landscape, including the advancement of oil and gas projects and the implementation of utility-scale renewable energy projects. From green hydrogen adoption to battery storage solutions to solar, wind and natural gas, the spotlight will explore the role an integrated energy mix will have on the country’s energy future.

Distributed by APO Group on behalf of African Energy Chamber

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