Despite high inflation, fuel shortages, and frequent power outages in Nigeria, MultiChoice Group’s full-year 2022 results show Nigeria leading the Rest of Africa (RoA) in percentage of subscription revenue and year-on-year subscription growth.
According to reports, when compared to other African countries with MultiChoice presence such as Kenya, Zambia, and Angola, Nigeria ranked first with 11 percent y-o-y subscription growth and 43 percent subscription revenue in full-year 2022.
Regionalisation produced positive results in unlocking market potential, as did an agreement with FIRS to postpone court challenges and begin tax audit.
Furthermore, the popularity of local content such as Big Brother Naija had a significant impact on the RoA operations.
Kenya followed with a 4% drop in y-o-y subscription growth and a 9% increase in subscription revenue during the fiscal year. Zambia reported a 3% drop in y-o-y subscription growth and a 7% increase in subscription revenue in Angola trailed with a year-on-year subscription growth of 1% and 5% of subscription revenue in FY2022.