MultiChoice Nigeria, the country’s leading cable TV provider ,has invested an estimated $2.1 billion in the Nigerian economy, in the past five years ,a recent study by Accenture has said.
Multichoice which operates the DSTV and GoTV platforms had commissioned the study, to measure the socio-economic impact of its business in Nigeria between 2015 and 2019.
Accenture estimated that the company had specifically spent over $428 million in developing local creative talent, as a result of sourcing and producing local content for DStv, GOtv, M-Net, SuperSport, and Africa Magic, and investing in building local production infrastructure.
This investment has greatly helped to support the Nigerian movie industry, ensuring that Nollywood movies are available across Africa and the rest of the world. Through their business operations, investments in technology, local infrastructure, Corporate Social Investment (CSI) initiatives and local partnerships, MultiChoice Nigeria has enriched an estimated two million lives each year, through initiatives such as MultiChoice Resource Centres, MultiChoice Talent Factory, GOtv Boxing, Sickle Cell Foundation, the Let’s Play initiative, among others. MultiChoice Nigeria has spent US$34.8m in supporting these initiatives, the report stated.
According to Adewunmi Ogunsanya (SAN), Chairman, MultiChoice Nigeria, “The report illustrates MultiChoice Nigeria’s total economic impact in Nigeria, including direct, indirect and encouraged influence on the country’s GDP.
“The statistics provide further information on the considerable positive socio-economic impact that our operations have made in the development of the communities in which we operate.”
Also speaking on the report, John Ugbe, CEO, MultiChoice Nigeria said: “As Nigeria’s leading video entertainment provider that delivers great entertainment to our customers, we understand that we have a responsibility to provide socio-economic value through our core business activities.
“This Socio-Economic Impact Assessment report aims to quantify and articulate the contribution we have made to the Nigerian economy during the Financial Year 2015/16 to 2018/19.”
Multichoice with origins in South Africa has faced a barrage of periodic criticism from Nigerians who accuse it of exploitation, arbitrary increases in prices, little interest in developing local programming ,among others. The study by Accenture ,a reputable management consulting firm is believed to be meant to douse some of these criticisms against the company.
MultiChoice Nigeria has evolved from being the small company that opened shop in Lagos with 30 employees in 1993, into being one of the most impactful and admired brands in the country.
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