In South Africa, the Black Business Council has voiced its support for the merger between MultiChoice and Canal+, congratulating both organisations on reaching significant milestones.
During an interview, a spokesperson from the Black Business Council highlighted the merger’s potential to save jobs and bolster support for black women and youth within the content production industry.
“This merger is vital for job preservation,” the representative stated. “We back it particularly due to its public interest implications, as outlined by the Competition Commission.”
The spokesperson further explained that local content producers working with MultiChoice would retain their business relationships with the newly merged entity, creating more opportunities for participation not just in South Africa but across the continent and globally.
“With Canal+ being a global player, this merger opens up opportunities for our local content creators and actors,” he added.
On Thursday, September 4, 2025, the Black Business Council released a statement praising MultiChoice and Canal+ for their efforts in finalising the deal.
“The Black Business Council has taken note of and supports the conditional approval of the merger granted by the South African Competition Tribunal on July 22, 2025,” the statement read.
The Council also acknowledged the approval received from the shareholders of Phuthuma Nathi and the MultiChoice Group on August 26 and 27, respectively.
They reaffirmed that the transaction should further the interests and empower South Africans within the audiovisual industry.
The Black Business Council pledged to hold MultiChoice and Canal+ accountable for their public interest commitments, including key conditions set forth by the Tribunal concerning the merger.
The organisation emphasised the importance of sustained investment by the MultiChoice Group in local content, the enhancement of small and medium-sized enterprises (SMMEs) within the audiovisual sector, and contributions to sports in South Africa.
They also expressed the need for ongoing monitoring from competition authorities and the Independent Communications Authority of South Africa (Icasa) to oversee the merger’s implementation.
In response to the Competition Tribunal’s approval, MultiChoice outlined its plans to comply with the deal’s conditions.
The merger faces notable challenges, including the Electronic Communications Act, which limits foreign shareholders to 20% of the voting rights for broadcasting licenses, and Icasa’s requirement that broadcasting licensees be at least 30% owned by historically disadvantaged individuals.
To comply, the MultiChoice Group is decreasing its shareholding in LicenceCo, the entity responsible for its broadcasting license in South Africa, aiming for a 49% economic interest and 20% voting rights through collaborations with four entities.
At the beginning of August 2025, agreements involving subscriptions, repurchases, and shareholder stakes were formed with Phuthuma Nathi, 13th Avenue Investments, Identity Partners Itai Consortium (IPIC), and the MultiChoice Workers Trust.
Phuthuma Nathi is the company’s broad-based black economic empowerment (BEE) investment vehicle in South Africa. Meanwhile, the Workers Trust is designed for broad-based ownership, benefiting Licenceco’s employees and key suppliers.
13th Avenue Investments includes various investment pathways associated with individuals such as Sipho Maseko, Neo Lesela, Khanyisile Kweyama, and Philisiwe Sibiya.
IPIC encompasses investment groups linked to Sonja de Bruyn, Maxell Nyanteh, Talaleni Moshapo, Ernest Kwinda, and Eugene Govender.
MultiChoice regards these individuals as seasoned leaders with substantial commercial and industry insight.
The four entities will receive a combination of ordinary and vendor-funded shares, which will initially have limited rights but transition to full shares as their funding obligations decrease.
