Hola,
Victoria from Techpoint here,
Here's what I've got for you today:
- StarSat closes shop in South Africa
- MTN Group’s 2024 earnings set to fall by up to 79%
- FCCPC halts MultiChoice Nigeria's subscription price hike
StarSat closes shop in South Africa
StarSat is officially out of the game in South Africa. Per MyBroadband, marketing manager Jan Hendrik Harmse, said OnDigital Media, the company that held the broadcaster’s licence, has been liquidated.
This move comes after the Independent Communications Authority of South Africa (Icasa) raided StarSat’s offices in October 2024 and cut off its broadcast signals. Since then, customers have been left in the dark, with no real updates beyond a vague apology back in October.
At the time, StarSat told customers they were working to restore service and even promised that those who had paid would get “bonuses” once everything was back up. But months have passed, and people are still waiting for refunds, with many complaining that their emails and calls to customer service are going unanswered. Some frustrated customers have taken to Facebook to demand their money back, but StarSat has gone completely silent.
The whole mess started because StarSat failed to renew its broadcasting licence on time. Their licence actually expired in July 2023, and they missed the deadline to submit the necessary renewal documents. Despite this, they kept operating like nothing was wrong until Icasa stepped in and ordered them to shut down by September 18, 2024. StarSat ignored that order, which led to the dramatic raid on October 2, shutting down broadcasts in South Africa and beyond.
Harmse admitted that they were late in submitting their renewal application but blamed it on the C0vid-19 pandemic and some unresolved shareholder agreements. He claimed StarSat had been in talks with Icasa about the delay, but clearly, that didn’t stop the regulator from taking action.
As recently as January 2025, StarSat was still talking about making a comeback, saying they were fighting to get back on air. But now that OnDigital Media has been liquidated, it’s clear that’s not happening.
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For customers still waiting for refunds? It’s not looking good. With the company’s financial troubles, they’re now just another group in a long line of creditors hoping to get paid.
MTN Group’s 2024 earnings set to fall by up to 79%
MTN Group is gearing up for a rough earnings report, warning investors that its full-year headline earnings per share (Heps) for 2024 will drop by 59% to 79%. Earnings per share will take an even bigger hit, plunging by more than 100%, thanks to relentless forex losses. But oddly enough, MTN's stock hit a 52-week high yesterday morning before settling down.
The biggest culprit? Currency devaluation, especially in Nigeria. MTN says forex losses cost them $0.32 per share, with the naira alone wiping out $0.21. Add in hyperinflation adjustments, deferred tax charges, and other non-operational costs, and the total impact comes to -$0.38 per share. Basically, even though the company had solid operations, external economic shocks hammered their financials.
Despite these weak earnings, MTN insists it had a strong operational performance in 2024. The company says things actually improved in the second half of the year, with inflation and forex rates stabilising in some key markets. They expect their H2 earnings, free cash flow, and leverage ratio to show positive momentum.
Their major markets — South Africa, Nigeria, Ghana, and Uganda — performed well, with MTN South Africa even seeing a profitability boost in the second half of the year. But Nigeria remains a critical challenge, which is why they were relieved when regulators finally approved tariff adjustments in January 2025.
MTN Nigeria has started rolling out these new tariffs, calling it a big step towards keeping the telecoms industry sustainable despite economic pressures. Still, the lingering effects of currency devaluation, especially the naira’s crash, continue to weigh heavily on their financials.
The full financial report drops on March 17, 2025, so investors will get the complete picture then. But for now, it’s clear that while MTN is holding up operationally, external economic factors are still throwing some serious punches.
FCCPC halts MultiChoice Nigeria's subscription price hike
Remember this? DStv and GOtv prices are going up again in Nigeria
The Federal Competition and Consumer Protection Commission (FCCPC) has stepped in to stop MultiChoice Nigeria from increasing its subscription prices for now. The commission has told the company to hold off on the planned price hike until its investigation is complete.
MultiChoice was supposed to face the FCCPC on February 27 over the price increase, but they asked for an extension. The commission granted it but made it clear: they must now show up on March 6 with all relevant documents and explanations. Until then, no price changes are allowed.
Here’s the backstory: The pay-TV company had announced yet another price increase across DStv and GOtv, set to take effect from March 1. Under the new prices, DStv Compact would jump from ₦15,700 to ₦19,000, while DStv Premium would rise from ₦37,000 to ₦44,500. GOtv customers weren’t spared either, with the Supa Plus package going up to ₦16,800 from ₦15,700.
Customers aren’t happy, and this isn’t the first time MultiChoice has pulled this move. In 2023 alone, they increased prices twice — April and November — before another hike in May 2024. Consequently, they lost a whopping 243,000 subscribers between April and September last year. Many Nigerians, struggling with high inflation and rising costs of living, simply couldn’t afford it anymore.
MultiChoice blames inflation for the price hikes, pointing to the increasing costs of electricity, fuel, and food. But with regulators stepping in, they may have to justify the new pricing before going through with it. For now, customers can breathe a little easier knowing that prices won’t change, at least until the FCCPC makes a final decision.
The hearing is set for March 6, 2025, and all eyes will be on what happens next. Will MultiChoice get the green light to increase prices again, or will the FCCPC step in to protect consumers? We’ll find out soon enough.
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