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MultiChoice, a subsidiary of French Media giant Canal+, has announced that subscriptions on Showmax will end from April 1, 2026, as it moves content to its sister platform, DStv Stream. The timeline, communicated to users via email on Wednesday, puts a concrete date for a restructuring first reported by TechCabal on March 5, months after the $3 billion takeover of MultiChoice by the French broadcaster. All Shomax subscriptions will end on March 31, and users will be required to subscribe afresh for DStv Stream. The migration of Showmax Original and its library to DStv Stream is the first major integration since the takeover in September 2025, signalling cost-cutting measures to come as the media giant seeks sustainable growth in Africa’s competitive but rice-sensitive market. On March 5, MultiChoice said the decision to close Showmax aligns with its goal of “strengthening our overall digital offering and ensuring long-term sustainability in an increasingly competitive streaming environment.” Wednesday’s announcement means the pay-TV operator plans to consolidate technology stacks, cut duplication, and redirect investment into a single platform. “Showmax is starting a new chapter, and your favourite shows are getting a shiny new home on DStv Stream,” MultiChoice said. “Even better, they’ll be joining a bigger world of entertainment, all in one place.” As part of its restructuring efforts, the parent company also plans to cut staff through a voluntary severance package to employees in support roles as part of a $115 million turnaround investment. The consolidation comes after years of financial struggle for the streaming platform. In the three years leading up to the Canal+ acquisition, Showmax accumulated losses of approximately €370 million ($429 million). Even a high-profile relaunch in early 2024, backed by a $309 million investment from Comcast’s NBCUniversal and leveraging the technology powering Peacock, failed to reverse its fortunes. Final annual results before the takeover showed trading losses widening despite declining revenues, underscoring the immense difficulty of building a profitable streaming business in Africa’s price-sensitive markets.
Read MoreThe World Bank has debarred three African subsidiaries of global advisory firm PricewaterhouseCoopers (PwC) for 21 months after being found guilty of manipulating procurement processes for a major cross-border electricity project. In a statement on Wednesday, the Washington-based multilateral lender said PricewaterhouseCoopers Associates Africa Ltd, based in Mauritius, along with its Kenyan and Rwandan affiliates, engaged in “collusive and fraudulent practices” linked to the Eastern Electricity Highway Project, a flagship initiative to transmit hydropower from Ethiopia to Kenya. The decision sidelines PwC from lucrative World Bank-funded projects on the continent, dealing a blow to one of the region’s most influential audit and advisory firms. It could reshape competition for high-value consulting work across emerging markets—potentially disrupting startups and tech firms reliant on World Bank funding—as scrutiny over governance and compliance tightens. The World Bank, through its private sector arm International Finance Corporation (IFC), offers grants and low-interest loans to startups across emerging markets. On Monday, the IFC committed $20 million to invest in high-growth startups in Kenya, Nigeria, and South Africa. “The debarment makes PwC Associates, PwC Kenya, PwC Rwanda, and any affiliates they control ineligible to participate in Bank Group-financed projects and operations,” the World Bank said. “It is part of a settlement agreement under which the three companies admit culpability for sanctionable practices.” The determination was based on the company’s conduct between 2019 and the award of contracts for consultancy services and asset valuation work for the Ethiopian state power utilities. According to the World Bank’s Integrity Vice President, the firm obtained confidential procurement documents to improperly influence the award of a contract for the implementation of International Financial Reporting Standards at the Ethiopian Electric Power Corporation. They also attempted to steer a separate contract for a fixed asset inventory and revaluation for the power utility towards PwC Associates. During the bidding and execution of that contract, the bank found that the company misrepresented the availability and qualifications of key experts and failed to disclose the full list of subconsultants involved. According to the World Bank, the debarment is shorter than would otherwise apply because PwC admitted misconduct. The advisory firm also agreed to a series of remedial measures, including internal investigations, disciplinary action against responsible staff, terminating relationships with all subconsultants involved, and additional staff training.
Read MoreNdovu Wealth, a Kenyan fund manager licenced by the Capital Markets Authority (CMA), has launched a multi-asset fund with a $2,500 minimum ticket, targeting higher-income investors as wealthtech startups push beyond entry-level products. The move shows how local fintechs are pushing into territory long held by private wealth managers and offshore brokers, staking their growth on the idea that a growing base of affluent, digitally native users will pay for guided access to global markets. The Kibaba Multi-Asset Special Fund, announced in Nairobi on Tuesday, offers exposure to global equities, fixed income, Real Estate Investment Trusts (REITs ), Exchange-Traded Funds (ETFs ), and commodities through Ndovu’s app, with minimum investments set at KES 250,000 ($1,930) or $2,500 for dollar accounts. The amount exceeds the thresholds that powered the first wave of Kenyan investing apps like Hisa and Chumz, some of which built scale by allowing users to start with a few thousand shillings. The higher minimum also narrows the addressable market in a country where most investors remain price-sensitive. “We created the Kibaba Multi-Asset Special Fund in response to the evolving investor demands in the region,” said chief executive Radhika Bhachu, pointing to rising interest in offshore exposure. Retail investors who entered markets through money market funds and savings apps are moving into dollar assets to hedge against currency pressure and inflation. Kenya’s collective investment schemes market has grown steadily in recent years, with fund managers reporting increased demand for foreign-denominated products as the shilling weakened through 2023 and 2024. Local fintechs have been strong at onboarding first-time investors but weak at keeping them as balances grow. Many users migrate to global platforms like Interactive Brokers that offer wider asset access or to traditional managers that provide structured portfolios. Ndovu wraps a regulated fund inside a digital interface that handles onboarding, payments, and portfolio tracking, while adjusting allocations using market data. This places the company in more direct competition with international brokerages that offer self-directed investing, as well as financial institutions like Standard Investment Bank and other licenced managers targeting high-net-worth clients.
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