The sharp decline is attributed to the challenging economic conditions, particularly in key markets like Nigeria, where inflation has consistently exceeded 30% over the past year.
The company attributes this sharp decrease to economic difficulties, particularly in key markets like Nigeria, where inflation has remained above 30% for much of the past year. Additionally, severe power disruptions in Zambia have worsened the situation, impacting the company's operations.
MultiChoice revealed that over 84% of the lost subscribers were from regions outside South Africa, with Nigeria being the most affected.
In a statement, the company stated, 'The loss in the rest of Africa has been primarily due to the significant consumer pressure in Nigeria, where inflation has remained above 30% for the majority of the last 12 months and, more recently, due to extreme power disruptions in Zambia.'
Adding to its challenges, MultiChoice is also under regulatory scrutiny. Nigeria's Federal Competition and Consumer Protection Commission (FCCPC) recently filed charges against the company for allegedly violating local consumer protection laws, further complicating its position in the region.
IGIHE
