Brand
MultiChoice: Subscriber Base Dip Reflects Difficult Consumer Environment
A business news item with some prominence last week was the interim financial results of the pay television company, MultiChoice Group, with Nigeria being one of its most significant markets. The most arresting item in the results is the announcement of the loss of 243,000 subscribers on MultiChoice’s DStv and GOtv services within the six months (April to September 2024) covered by the result released last week.Also of public interest, albeit to a lesser extent domestically, is MultiChoice’s loss of 298,000 subscribers in its Zambian market, which was attributed to persistent power outages induced by drought. Although there were declines in the company’s other markets in the Rest of Africa (RoA) and South Africa, they were relatively low at 25% and 5%, respectively.Also reflected in the results was the $21 million trapped in the distressed Heritage Bank, which has had its license revoked by the Central Bank of Nigeria. This splurge of negative information understandably sparked a mix of reactions, notably wildly unreasoned but with a smattering of clear-headed ones. The previous analysis, which focused only on subscriber losses and the $21 million, ignored other aspects of the results and reached an apocalyptic conclusion.That strain of analysis blamed the subscriber base decline on the tariffs charged by the company.It was indifferent to the local economic conditions, which have significantly diminished purchasing power not only among MultiChoice subscribers but also for users of other services and goods.It could not have been otherwise, given that the country’s inflation rate has been consistently above 30% for over a year, with the latest figure of 33.88%. The inflationary pressures have been aggravated by the drastic and continuous dip in the value of the naira, which caused businesses, including MultiChoice, huge foreign exchange losses. The pay television company’s losses from a dollar-denominated intergroup loan stood at 2.1 billion Rands within the period covered by the results.It is quite clear that during tough economic times, consumers reduce spending on non-essential items, the category into which pay television services are included. This is supported by the recent CBN Household Expectations Survey, which stated that at this time, Nigerians focus on food, household necessities, education, transportation, electricity, and medical care.“The Buying Condition Index for high-ticket items like consumer durables, motor vehicles, and real estate suggests that most respondents believe the current month is unfavourable for purchasing these items. Additionally, consumers do not anticipate the next three to six months will be ideal for acquiring such products,” the report noted.There is ample evidence that businesses are bleeding on account of the rough economic weather. Guinness Nigeria Plc reported a net loss of N12.2 billion for Q1 2025 (ending September 30, 2024). This represents a dramatic 568% decline from the N2.6 billion net profit recorded during the same period the previous year. The company cited declining sales volumes, a reduced gross profit margin, and foreign exchange revaluation losses amounting to N8.4 billion as the primary causes.Nestlé Nigeria Plc reported a significant pre-tax loss of N255.4 billion for the first nine months of 2024. This represents a 381% increase in losses compared to the N56.65 billion loss recorded during the same period in 2023. Meanwhile, Airtel Group generated revenue of $2.37 billion for the half-year ending September 30, 2024, marking a 10% decline from $2.62 billion in the same period in 2023. The company’s operating profit fell by 20%, and it faced a $151 million loss attributed to the devaluation of the naira. These figures highlight the decline in consumer spending on calls and data services.Some analysts, who seemingly paid inadequate attention to the results and/or heard voices in their heads, , attributed the outcomes recorded by MultiChoice to the increasing consumer adoption of streaming services like Netflix and Prime and MultiChoice’s failure to diversify.Neither, going by the results, has any factual basis. While there is no debate that streaming services are rising in popularity, Showmax, MultiChoice’s subscription video-on-demand (SVOD) service platform is enjoying popularity, reporting 50% year-on-year growth and a 30% increase in paying subscribers. This is attributed to its transition to the Peacock technology stack, which has allowed it to establish partnerships with major distributors like Kenya’s M-PESA and South Africa’s Capitec to enhance adoption. The tariffs of the streaming services have similarly been affected by local economic conditions. Netflix, for example, has hiked the tariff of its premium package to N7,000 from N4,000 monthly.The results, contrary to the claim that MultiChoice has focused solely on traditional pay television, show forethought and bold diversification footprints.“We are proactive in our focus to right-size the business for the current economic realities and industry changes. We have successfully been implementing our strategy over the past few years, achieving key milestones such as our investment in KingMakers [MultiChoice’s gaming division],” Calvo Mawela, CEO of MultiChoice Group, stated.MultiChoice is expanding into the insurance and financial services sectors through a partnership with Sanlam. The partnership is expected to spawn an accounting gain of between $144.4 million and $182.9 million. Moment, the company’s fintech venture, is also experiencing significant growth, as it currently processes nearly 30% of MultiChoice’s total payments, achieving payment volumes of $242 million across 40 African countries since it was launched.In gaming industry, BetKing Nigeria has risen to the second position in the online betting sector. Though the industry experienced a 48% revenue decrease, Betking’s overall revenue rose by 10%. Irdeto, MultiChoice’s global technology division, has shown the capability to make significant contributions through the expansion of It offers digital security services to address the increasing demands of online and streaming platforms.The alarming predictions made by certain analysts and doomsayers fail to recognize that the economic conditions in Nigeria, particularly the soaring inflation, have forced consumers to tighten their belts. As a result, consumer behaviour has shifted significantly. Days of wine and roses are no longer around. For now, at least.
Brand
Interswitch Returns as Key Sponsor of 12th AMVCAs, as Quickteller and Verve Spotlight Excellence in African Music and Storytelling
Lagos, Nigeria – April 27, 2026 – Interswitch, through its flagship brands, Quickteller and Verve, has announced its sponsorship of three major award categories at the 12th edition of the Africa Magic Viewers’ Choice Awards (AMVCAs), reaffirming its continued support for the growth and global recognition of Africa’s film and television industry. Through Quickteller and Verve, the company is backing key segments of the continental awards that spotlight creative excellence. Quickteller will feature as the sponsor of the Best Music Score category, while Verve will sponsor the Best Writing in a Movie category as well as the Best Writing in a TV Series category, recognising the creative depth and storytelling craft that shape Africa’s film and television landscape. The sponsorship underscores Interswitch’s broader commitment to enabling platforms that celebrate African talent and elevate the continent. Over the years, the company has continued to support initiatives that drive cultural expression, industry visibility, and cross-sector innovation. Commenting on the partnership, Dr. Cherry Eromosele, Executive Vice President, Group Marketing and Communications at Interswitch, noted that the collaboration reflects the company’s long-standing belief in the power of storytelling to drive connection and growth, particularly within Africa’s rapidly evolving creative ecosystem. “At Interswitch, we see the creative industry as a powerful engine for cultural expression and economic growth across Africa. Our partnership with the Africa Magic Viewers’ Choice Awards reflects our commitment to supporting platforms that amplify African voices and showcase world-class talent. We are proud to support categories that recognise the creativity and craftsmanship behind the stories that resonate with audiences across the continent and beyond,” Eromosele said. As part of its participation in this year’s awards, Interswitch will be represented by senior executives at the ceremony. The Best Music Score award will be presented by Franklin Ali, Group Chief Human Resources Officer, Interswitch, while the Best Writing in a Movie award will be presented by Dr. Cherry Eromosele. Also commenting on Interswitch’s return as a sponsor of the 12th AMVCAs, the Divisional Head, Brands, Communications, Content and Storytelling, Tomijogun Ogunlesi stated:“Interswitch Group is proud to support the celebration of Africa’s storytelling brilliance. Through Quickteller and Verve’s participation as sponsors of the AMVCAs, we are playing a role in amplifying the voices of those telling our authentic African stories with passion, authenticity, and creativity. For us, the AMVCA is more than just an award show, but a powerful platform that reflects the vibrancy and vision of African creators whom we are proud to support.” Beyond the sponsorship, Interswitch will also deliver an engaging on-site brand experience across key moments of the AMVCAs. Activations are scheduled to take place during the Cultural Day celebration at the Federal Palace Hotel, Lagos on the 8th of May and at the main awards ceremony at Eko Hotel and Suites, Lagos, on May 9, 2026. These activations will showcase the seamless capabilities of Quickteller and Verve, while creating interactive touchpoints that connect technology, lifestyle, and entertainment in a way that reflects how consumers engage with modern commerce. By combining sponsorship, executive participation, and experiential engagement, Interswitch continues to position itself at the intersection of technology and culture, supporting not just transactions, but the ecosystems that drive creativity, connection, and economic opportunities across Africa.
L-R: Team Lead, Corporate Social Responsibility (CSR), Fidelity Bank Plc, Victoria Abuka; Deputy Controller of Corrections, Enugu Maximum Security Custodial Centre, Dr. Sunday Igwe; Team Lead, Human Resources and Business Partner, East & South, Fidelity Bank Plc, Osayi Uwumarongie; and President, Legacy Inductees Class of 2026, Fidelity Bank Plc, Darlington Okereke; during Fidelity Bank’s donation of food and essential items to Enugu Maximum Security Custodial Centre, in Enugu State recently.
Tier one lender, Fidelity Bank Plc has reaffirmed its commitment to health and social welfare with the donation of food and essential items to inmates at the Enugu Maximum Security Custodial Centre.
The outreach was carried out by the newly inducted Legacy Class of 2026 and executed under the bank’s flagship Corporate Social Responsibility (CSR) platform known as the Fidelity Helping Hands Project (FHHP). Through the FHHP, staff identify areas of critical interventions in their immediate communities, raise funds and then receive matching financial support from the bank’s management to execute the projects.
Items donated by the Legacy class include a range of food supplies such as garri, spaghetti, noodles, biscuits, milk, and other essential consumables aimed at supporting the welfare and living conditions of inmates at the facility.
Speaking on the visit, Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr Meksley Nwagboh, described the initiative as a key component of the Bank’s culture, designed to inspire compassion and a sense of responsibility in its workforce.
“As part of our induction programme, we encourage new staff to identify meaningful ways to impact their communities. In assessing the needs of this facility, it became clear that providing food and other essentials would make an immediate difference. With over 3,000 inmates here, the daily effort required to feed and care for them is enormous. We believe that this donation will significantly support the centre’s ongoing work and contribute to improving the welfare of the inmates,” he said.
Nwagboh further emphasized the broader vision behind the initiative, noting that the bank is committed to raising socially conscious professionals. “At Fidelity Bank, we are intentional about building not just skilled employees, but responsible citizens. Initiatives like this help our staff connect with real societal needs and inspire them to make meaningful contributions beyond the workplace,” he stated.
In his response, the Deputy Controller of Corrections at the facility, Dr. Sunday Igwe, commended Fidelity Bank for nurturing a strong culture of social responsibility among its workforce. He described the donation as timely and impactful, noting that it would help alleviate some of the operational challenges faced by the facility.
Igwe further used the opportunity to caution Nigerians, particularly young professionals, against engaging in criminal activities such as fraud and cybercrime, emphasizing that personal decisions can have far-reaching consequences.
“People must understand that their choices determine their outcomes. We encourage everyone to stay focused and avoid actions that may bring them into conflict with the law,” he advised.
The Fidelity Helping Hands Project remains one of Fidelity Bank’s key CSR initiatives, enabling employee-led contributions that drive meaningful impact through inclusive development across Nigeria.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
One Universe, a new trusted digital marketplace designed to connect people who need services with skilled professionals, has officially launched and is now available for download on the Apple App Store and Google Play Store.
Built to solve the everyday challenge of finding reliable service providers, One Universe brings trust, convenience, and transparency into one seamless platform. From beauty and lifestyle services to technical, creative, and professional support, users can now discover verified professionals, agree on terms, and complete payments securely – all within the app.
A Safer, Smarter Way to Get Things Done
One Universe was created to eliminate uncertainty in service transactions. The platform enables buyers to find professionals, chat directly, agree on pricing and timelines, and make payments securely. Funds are held safely until the job is completed, ensuring protection for both parties.
Empowering Professionals to Grow
For service providers, One Universe offers a powerful opportunity to showcase skills, receive referrals, build credibility through reviews, and access more customers without the usual barriers. Professionals can focus on delivering quality work while the platform supports visibility, trust, and secure payments.
Introducing the One Universe Recruiter Program
As part of its launch, One Universe is rolling out the Recruiter Program, designed to reward individuals who help grow the community. Recruiters earn incentives by inviting people to join the platform – especially buyers seeking services – thereby helping professionals get more jobs while expanding the ecosystem. The program turns everyday referrals into real value and shared growth for all participants.
Key Features Include:
- Verified professionals across multiple service categories
- Secure in-app payments with buyer and seller protection
- Transparent pricing and direct communication
- Ratings and reviews to build trust
- A growing community driven by referrals and reputation
- Incentives through the Recruiter Program for community growth
Now Available on iOS and Android
One Universe is now live and ready for use. Individuals and businesses are encouraged to download the app, explore services, and experience a smarter way to connect and transact.
Download One Universe today:
Apple App Store
https://apps.apple.com/au/app/one-universe/id6753012310
Google Play Store
https://play.google.com/store/apps/details?id=com.oneuniverse.oneuniverse
About One Universe
One Universe is a trusted digital marketplace built to connect people with skilled professionals, making service discovery, engagement, and payment simple, safe, and reliable. The platform is committed to empowering service providers while giving users confidence and peace of mind.
Media Contact:
www.oneuniverse.ng
info@oneuniverse.ng
08083327368
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