Nigeria's Economy Blamed for Multichoice's 9% Dip in DStv Subscribers

Multichoice Group reports a 9% decline in active DStv subscribers, citing economic challenges in Nigeria and across Africa. Factors include currency devaluation and inflation. The company faces regulatory hurdles, including fines, amid price increases and cost-saving measures.

Multichoice Group's annual report revealed a significant 9% decline in active subscribers, driven by a sharp 13% drop in its Rest of Africa segment. Nigeria saw an 18% decrease due to economic pressures such as removing fuel subsidies, currency devaluation, and soaring inflation.

The company responded with cost-saving initiatives and faced regulatory challenges, including a N150 million fine for defying a court order on price adjustments.

These factors contributed to a complex operational environment affecting Multichoice's subscriber base and financial performance.