French media conglomerate Canal+ has officially acquired full ownership of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion (approx. 55 billion rand) deal. The acquisition, which gives Canal+ the remaining 55% stake it did not previously own, was approved by South Africa’s Competition Tribunal on Wednesday, July 23.

The approval comes after months of intense negotiations and regulatory reviews, and paves the way for the deal to be finalized by October 8, 2025. While the Tribunal gave the green light, it imposed several public interest conditions to protect local content and maintain South Africa’s media sovereignty.

For Canal+, the deal represents a major strategic expansion into Africa’s booming media and entertainment market. Already operating in 25 African countries with over eight million subscribers, Canal+ is now positioned to significantly scale up its presence, targeting 50 to 100 million subscribers across the continent in the coming years.

MultiChoice, Africa’s largest pay-TV broadcaster, brings more than 14.5 million subscribers in 50 sub-Saharan African countries, as well as flagship platforms like DStv and GOtv. The company is also home to premium content brands such as SuperSport, making it an attractive acquisition for the French media powerhouse.

READ ALSO:MultiChoice Cuts DStv Decoder Price By 50% To Attract Subscribers

Describing the deal as transformative, Canal+ CEO Maxime Saada said: “The combined group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies.”

One of the key benefits of the merger is the integration of Canal+’s French-language content with MultiChoice’s dominant English and Portuguese offerings—creating a multilingual media powerhouse capable of serving diverse African audiences.

Beyond strategic value, the acquisition is also a timely boost for MultiChoice. The deal is expected to inject fresh capital into the South African broadcaster, enabling deeper investment in local content production, technology upgrades, and digital innovation.

READ ALSO:MultiChoice Cuts DStv Decoder Price By 50% To Attract Subscribers

As part of the Competition Tribunal’s conditional approval, Canal+ has committed to spend approximately 26 billion rand over the next three years on initiatives aligned with South Africa’s public interest objectives. These include retaining MultiChoice’s headquarters in South Africa, maintaining investment in local content and sports broadcasting, and supporting local content creators.

In a joint statement, both companies reaffirmed their commitment to the South African media ecosystem: “We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success.”

Canal+ began its takeover bid in 2023 with a mandatory buyout offer of 125 rand per share, valuing MultiChoice at around $3 billion. With full ownership now secured, the French media giant is poised to redefine Africa’s pay-TV industry, tapping into its vast potential and shifting the competitive

Nigeria’s Gross Domestic Product grew by 3.13 per cent year-on-year in real terms in the first quarter of 2025.

This is according to the latest report by the National Bureau of Statistics on Monday.

According to the bureau, this represents an improvement over the 2.27 per cent growth recorded in the corresponding period of 2024.

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The NBS, in its Q1 2025 GDP report, said the economic performance in the quarter was driven mainly by the services and industry sectors.

The report read, “Gross Domestic Product (GDP) grew by 3.13 per cent (year-on-year) in real terms in the first quarter of 2025. This growth rate is higher than the 2.27 per cent recorded in the first quarter of 2024.”

The Central Bank of Nigeria has explained why interest rates remain elevated, insisting that the monetary policy stance reflects not just a fight against inflation but a bold attempt to restore credibility, rebuild investor confidence, and defend the value of the naira.

The CBN Governor, Olayemi Cardoso, disclosed this at the Nigeria Domestic Investment Summit: Operationalising Nigeria’s first policy, organised by the Ministry of Industry, Trade and Investment, on Monday in Abuja.

The apex bank stated this ahead of its forthcoming decision on the Monetary Policy Rate on Tuesday, a critical benchmark that directly impacts domestic investors.

Represented by the Director of Risk Management, Blaise Ijebor, at the Nigeria Domestic Investment Summit in Abuja, he admitted that high interest rates are painful, especially for businesses and the real sector, but argued that they are necessary to stabilise the macroeconomic environment.

“High interest rates are painful. We all know that. We all recognise that, especially for the real sector. But interest rates are not just about affordability, they are also about credibility,” Cardoso said.

READ ALSO:DMO Unveils July FGN Savings Bond As CBN Offers N250bn In Treasury Bills

According to him, the current monetary policy stance sends “a strong signal that Nigeria is serious about defending the value of its currency, restoring macroeconomic balance, and regaining investors’ confidence.”

The CBN Governor said the bank had no choice but to “return to fundamentals” after taking over an economy plagued by policy distortions, opaque forex markets, and evaporating investor confidence.

“Eighteen months ago, our financial markets were in disarray. The foreign exchange system was broken. There was policy opacity and severe investor apathy.

“Our immediate task as a Central Bank was to arrest the slide and restore discipline. And that meant bold reforms, not technical tweaks, starting with exchange rate unification, phasing out unsustainable interventions, and returning to a transparent market framework”, Cardoso added.

He added that monetary tightening, though painful in the short term, had yielded results in the form of increased investor confidence, improved reserves, and a more coherent policy environment.

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“But while we defend stability with one hand, we are using the other hand to build inclusivity. We are improving access to finance, modernising payment infrastructure, streamlining regulation, and setting the stage for banks to better support businesses. That’s the spirit behind the recapitalisation programme”, he stated.

Speaking further, Cardoso commended domestic investors for their resilience through years of volatility, policy uncertainty, and inflation shocks.

He urged investors to see the forum not just as a “talk show” but a space to co-create solutions based on lived experiences.

“You all stayed the course. You continued to bet on Nigeria. That kind of patriotism is not just admirable, it is the foundation on which any credible recovery must be built.

“The challenges, innovations, and practical suggestions are critical to shaping a financial system that works for, with, and on your behalf, not against you”, he said.

In a strong effort to reframe the role of tax regulators, the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji, said the agency now sees itself not as an enforcer but as a facilitator of growth.

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“When you talk about the Nigerian Revenue Service, it’s deliberate. We are not law enforcement agents. We are service providers. You are our bosses,” Adedeji declared.

He said the new tax reforms under President Bola Tinubu had consolidated over 60 uncoordinated taxes into a single-window framework, making it easier for businesses to comply.

“We are here to remove your burdens. This is not about taking powers from any agency. It is about simplifying processes so businesses can scale, export, and grow”, he said.

On his part, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Jani Ibrahim, said that while foreign investments are welcome, domestic investors remain the unsung heroes of Nigeria’s economic journey.

“Foreign investment is important, but let us never underestimate the power, resilience, and ingenuity of local investors, MSMEs, and industrialists who have stayed committed to the Nigerian project.

“As we pursue the $1tn economy by 2030, domestic investment must be at the heart of our national strategy. And I assure you, we will surpass that target”, he stated.

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Oye also announced that NACCIMA would be hosting a Made-in-Nigeria exhibition later in the year to showcase local capacity and attract scale-up opportunities.

Also speaking at the event, the Permanent Secretary, Ministry of Industry, Trade and Investment, Abba Rimi, described Nigerian investors as more than just capital providers.

“Domestic investors are community builders, job creators, and drivers of local value chains,” Rimi said.

He pledged government support for local businesses and said policy co-creation would remain a core strategy going forward.

He added, “This summit is not just a dialogue platform. It is a place to showcase investment-ready opportunities, resolve challenges, and build solutions that reflect the realities of Nigerian entrepreneurs. We are listening. We are learning. And we are ready to act.”

PUNCH Online reports that the summit was directed by Tinubu and organised by the Trade Minister, Jumoke Oduwole, to co-curate strategies, policies and reforms and come back to him with clear targets and specific requests of what is needed to help us all to actualise the eight-point Renewed Hope Agenda, the Nigeria First Policy and achieve the $1tn economy by 2030.