Business & MarketsThe Big Story

DStv’s MultiChoice Group technically insolvent after historical loss of USD 200 million in 29 years

SANDTON, SOUTH AFRICA: MultiChoice CEO Calvo Mawela during the listing of the company at the Johannesburg Stock Exchange (JSE) on February 27, 2019 in Sandton, South Africa. (Photo by Gallo Images / Business Day / Freddy Mavunda)

South Africa’s MultiChoice Group, the parent company of DStv, has registered its worst financial performance in its history revealing a loss of ZAR 4.1 billion (USD 222 million) for the financial year that ended March 2024, after a loss of ZAR 2.9 billion (USD 157 million) in the previous financial year in March, 2023.  The Group suffered a 9% decline in active subscribers mainly due to a 13% decline in the Rest of Africa business as mass-market customers in countries like Nigeria had to prioritise basic necessities over entertainment, while the South African business showed more resilience than other regions with…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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