In the first six months of the 2025 financial year, MultiChoice's revenue declined by 10%. However, on an organic basis, it increased by 4%. This shows the impact of foreign exchange pressures on the 'Rest of Africa' business and a stronger rand against the US Dollar.
Mawela explained that unprecedented foreign exchange volatility severely impacted the group's interim financial results. "Over the last six months, we faced over R2.3 billion in forex headwinds," he said in an interview in November 2024.
The company has also faced macroeconomic challenges that weighed on customer growth and moderated overall performance. In South Africa, poor economic growth, elevated interest rates, and the high cost of living lowered household spending on luxury products like DStv. Many consumers faced financial pressure, forcing them to cut their DStv subscription or downgrade to a lower.
.. Staff Writer.