Africa’s first Black billionaire Patrice Motsepe may join $2.9-billion bid for DStv owner

Omokolade Ajayi -

Africa’s first Black billionaire Patrice Motsepe is in talks with Canal+, the media arm of Vivendi, to potentially join its billion-dollar bid for MultiChoice Group, the parent company of Sub-Saharan Africa’s renowned direct broadcast satellite service, DStv.

Motsepe, who became Africa’s first Black billionaire in 2008 and built his fortune in the mining industry through African Rainbow Minerals (ARM), is reportedly in discussions to assist the Canal+ in complying with South Africa’s stringent Black economic empowerment (BEE) regulations, according to Bloomberg, citing people familiar with the matter.

Motsepe eyes MultiChoice stake in potential Canal+ partnership

If successful, this collaboration could propel Patrice Motsepe, the richest Black billionaire in Southern Africa with a net worth of $2.5 billion, into the ownership ranks of MultiChoice Group, further diversifying his holdings in South Africa’s leading companies.

TymeBank, one of Motsepe’s recent ventures, recently achieved a significant milestone with its first-ever profit. The digital bank, boasting 8.5 million customers, benefited from the backing of ARC and Motsepe’s strategic guidance.

While discussions are at an early stage and no deal is guaranteed, a potential partnership between Motsepe and Canal+ could mark a significant development in Africa’s media and entertainment landscape, reflecting the continent’s growing importance in global markets.

Canal+ backed by Vincent Bolloré’s Bolloré Group raises bid for MultiChoice to $2.9 billion

Canal+, backed by Vincent Bolloré’s Bolloré Group, has intensified its push into Africa’s burgeoning entertainment market. The French media giant, already holding a stake of over 35 percent in MultiChoice Group, upped its bid for the company to R55 billion ($2.9 billion) from an initial offer of R46 billion ($2.5 billion).

Sources familiar with the matter say Canal+, advised by JPMorgan Chase and Bank of America, is expected to submit a formal offer for MultiChoice by April 8. The offer will be priced at R125 ($6.61) per share, valuing the company at roughly R55 billion ($2.9 billion). This proposal will be considered by MultiChoice’s independent board members.