Shalom,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- UK-based Wise bags first African licence
- What photographers think about AI photoshoots
- Canal+ looks to reset MultiChoice’s cost base
UK-based Wise bags first African licence
Wise, the UK-based fintech known globally for cheap international money transfers, has just cleared a major regulatory hurdle for Africa: it received conditional approval from the South African Reserve Bank (SARB) to operate in South Africa as a “Category 2 Authorised Dealer in Foreign Exchange with Limited Authority (ADLA)”.
That licence — the company’s first on the African continent — means Wise can soon begin offering cross-border transfer services to everyday consumers in South Africa.
The timing matters. South Africa already handles a huge volume of international payments: think remittances, diaspora flows, student fees, trade and more. Yet traditional providers charge steep fees, offer opaque pricing, and often deliver slow service. Wise believes its model — transparent fees, the real “mid-market” exchange rate and fast transfer times — can help undercut those inefficiencies.
From a broader perspective, this fits into a global push for better cross-border payment infrastructure. As a G20 member, South Africa is part of the G20 Roadmap for Enhancing Cross-Border Payments. The Roadmap aims for faster, cheaper, more transparent international transactions by 2027, and industry watchers say Wise’s entry could accelerate that shift domestically.
Wise hasn’t yet confirmed when service will go live, but the regulatory green light is a major step. For many South Africans and the large diaspora connected to the country, that could soon mean smoother, cheaper international money transfers.
What happens when you use AI for your photoshoot?
AI-generated images are booming, from birthday portraits to professional headshots. In Nigeria, photographers are noticing the shift. Some clients now opt for AI because it is cheaper and faster, while others still value the real-life experience of a photoshoot.
Richmond Nwachukwu, a professional photographer, says AI was originally meant to enhance photography, not replace it. He has seen only a small dip in income so far. Event photographer Oluluwa Balogun Taiwo adds that AI cannot capture live concerts, weddings, or other moments that require presence and timing.
Even so, AI is affecting certain areas, particularly stock photography. Getty Images’ Creative stock segment fell nearly five per cent in 2024, and some Nigerian stock photographers report demand dropping by up to 40 per cent. Meanwhile, professionals like Esther Uduma are turning AI into a business, teaching people how to generate stunning images themselves.
The full story explores how AI is reshaping the photography industry, where human creativity still matters, and what this means for photographers and clients alike. Read it here.
Canal+ looks to reset MultiChoice’s cost base
French pay-TV giant Canal+, now the proud new owner of MultiChoice, is wasting no time. The company has told investors it plans to aggressively chase subscriber growth across Africa, a market it believes is still largely untapped. And with MultiChoice’s numbers slipping fast, the timing couldn’t be more urgent.
MultiChoice has been struggling, losing 1.2 million subscribers in the year to March 2025. New data suggests things worsened by June, with losses hitting 1.4 million year on year. Instead of reporting interim results in September as usual, MultiChoice will now only share numbers in December as it syncs its financial calendar with Canal+.
To turn things around, Canal+ says scale is key. The group plans to use the combined strength of both companies to cut subscriber acquisition costs, share more content across platforms, improve distribution, and incentivise internal teams to hit ambitious growth targets. Essentially, fix the product, widen the reach, and get people subscribing again.
Revenue is also taking a beating. MultiChoice’s top line fell R4-billion to R52-billion in the year to March, while trading profit crashed 49% to R4-billion. Cost-cutting had already begun before the acquisition, with R3.7-billion saved last year but Canal+ says that’s just the start. The big play now is to streamline technology costs globally and reset the business for profitability.
And that tech bill is nothing to joke about. MultiChoice’s CEO David Mignot told the Competition Tribunal earlier that the pay-TV world is locked in a technology “arms race”, especially as streaming grows. He pointed to the company’s reliance on Comcast for Showmax’s OTT tech stack as proof that scale matters.
For Canal+, Africa is now central to hitting its 40 million global subscriber target this year and eventually growing to 50–100 million. No deadline on that big number yet, though.
In case you missed it
- How this Nigerian lady turned her experience at NITDA and Interswitch into a product company
What I’m watching
- We’re Doing AI All Wrong. Here’s How to Get It Right | Sasha Luccioni | TED
- What Happens to Your Organs If You Fast for 24 Hours? (Science Explained)
Opportunities
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa
