BMA has learnt that Canal+ is working on increasing its ownership stake in MC Vision, a Mauritian pay-TV company, from 37% to 75%. This move will make Canal+ the majority shareholder of the digital pay-TV company. The increased stake is pending regulatory approvals and is part of Canal+’s strategy to enhance its presence in Africa.
The change in ownership structure will also involve Currimjee Jeewanjee and Co., the family-owned business that co-founded MC Vision with Canal+ over two decades ago. They will reduce their stake from 53% to 25%. The state-owned Mauritius Broadcasting Corporation will also sell its 10% holding in MC Vision.
Canal+ aims to bolster its footprint in the rapidly growing African market to compete with major US entertainment companies. The company has previously made a cash offer for MultiChoice Group, a South African broadcaster, with plans to list the combined entity in Europe and Johannesburg.
MC Vision, founded in 1999 as a pioneer in digital satellite television in Mauritius, has now evolved into a premium and exclusive content provider. Despite facing challenges such as low consumer confidence, currency devaluation, piracy, and rising sports content costs, MC Vision recorded revenue of Rs1.25 billion and a loss of Rs1.6 million in the year ending December 2022.
The new ownership structure is expected to support MC Vision in continuing to meet the audiovisual needs of Mauritian households while allowing it to benefit from the resources and expertise of the Canal+ group.
