MultiChoice and NBCUniversal have invested $145 million into Showmax Africa Holdings Limited (SMAH). This funding will support Showmax’s working capital and drive growth.
The announcement was made by MultiChoice Group Limited on April 29, 2025. The funds were provided in equity by both companies based on their shareholdings.
From 27 September 2024 to date, MultiChoice Group Holdings B.V. (MGHBV) and NBCUniversal Media LLC have jointly provided the funds. MGHBV is a wholly owned subsidiary of MultiChoice, while NBCUniversal is owned by Comcast Corporation.
Additionally, MGHBV contributed $800,000 to cover specific shareholder costs.
According to MultiChoice, “Equity funding is provided monthly or at other intervals, depending on SMAH’s then current working capital requirements.”
The companies followed the agreement outlined in the SMAH shareholders’ agreement. The funding is capped based on budget plans approved by the SMAH board.
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Funding Declared a Category 2 Transaction
In line with JSE Limited Listings Requirements, this investment qualifies as a category 2 transaction. MultiChoice had to release the announcement accordingly.
“Since 27 September 2024 until the date of this announcement, MGHBV and NBCU have provided, in the aggregate, USD145 million in equity funding to SMAH,” the statement said.
“Further, MGHBV provided USD800,000 as equity funding to cover MGHBV specific shareholder costs,” it added.
MultiChoice included SMAH’s financial data in its year-end results and interim reports released on 12 June and 12 November 2024.
SMAH remains a consolidated part of MultiChoice’s financial reporting.
This funding signals a strong commitment to the African streaming market. Showmax is one of the leading platforms on the continent.
The investment comes as competition in the streaming space continues to grow. Global and regional players are racing to gain more subscribers.
MultiChoice and NBCUniversal aim to keep Showmax competitive and innovative through their investment. The move will boost content quality and enhance user experience.
Showmax will use the funding to upgrade technology, create original productions, and run user engagement campaigns.
Shareholders and industry watchers see this as a positive sign for Africa’s digital entertainment future. The support by two major media groups reflects confidence in Africa’s fast-growing streaming market.