MultiChoice Nigeria Expands Product Offerings, Unveils 3 New DStv Business Packages
Leading Pay-TV service provider, MultiChoice Nigeria has rolled out new features and expanded the product offerings on its DStv Business packages for businesses and corporate organizations in Nigeria.
The new DStv Business packages are DStv Work, DStv Play and DStv Stay.
Chief Executive Officer, MultiChoice Nigeria, John Ugbe said: “We always ask ourselves how we can make our customers experience better for businesses. We have revamped our DStv Business packages, offering business owners the right mixture of entertainment to enhance the experience of guests and staff. At the end of the day, your guests will always remember how you made them feel.”
The DStv Work, tiered into 2 categories, DStv Work Ultra with 48 channels and DStv Work Essential with 75 channels, has been tailored to suit the businDStv Work, DStv Play and DStv Stay.ess environment including banks, offices, and other corporate organizations with specific offerings such as the latest news headlines from across the world, sports, weather updates and other work-related entertainment which sets the tone and keeps everyone well informed.
Commenting on the revamped DStv packages, Head of DStv Business, Abayomi Famakinwa said: “For the Work category, we have taken into consideration all our offices and different organizations. For Stay, we have considered all organizations across accommodation offerings such as hotels, B&Bs, Guesthouses and the likes; for Play, we are taking into consideration the Pubs, Clubs, lounges, restaurants, bars and the likes.”
The DStv Play package, tiered into 3 categories, DStv Play Ultra with 86 channels, DStv Play Essential with 61 channels, and DStv Play Basic with 40 channels aims to enhance guest experiences and ensure that they are always entertained with their favourite sports programmes and other first-class entertainment.
Famakinwa stated further: “A lot of our customers used to complain to us that there is only one package across the different bouquets so they couldn’t move from one package to the other, and we have listened as we always do and we have now tiered our packages into different categories for each of the segments. Secondly, we have factored in all the add-ons into our different packages; and from the decoder perspective we have bundled our decoders, which means, for each and every decoder that you have you can talk to MultiChoice and tell us what channels you would like to have on the decoder.”
The DStv Stay package, tiered into 3 categories, DStv Stay Basic with 77 channels, DStv Stay Essential with 99 channels, and DStv Stay Ultra with 139 channels are best suitable for hotels, motels, lodges, resorts, B&B and serviced apartments as it gives each guest – whether a kid, adult or elder – a memorable in-room experience due to the vast array of channels available to them during their stay.
Meanwhile, Chief Customer Officer, MultiChoice Nigeria, Martin Mabutho said: “At the centre of what we do and the key characteristics that we live by day in day out is innovation. And a company that prides itself in innovation, not only from the point of view of what we do with our hard work, or the point of view of content ideas that are groundbreaking, but clearly also from the point of view of all we have seen in the communities and economies that we operate in, and how different businesses can also become our partners.”
Speaking on what informed the Pay TV’s decision to expand its offerings, Martin noted: “As content is consumed on different platforms, mobile devices, phones, tablets, and computers, the people that own those contents have started to tighten around usage rights; the people that regulate us as pay-TV service providers also start to expect that we hit the right notes when it comes to the issue of morality, political correctness, and religion amongst others. It is for that reason that we saw it fit that we sit down and categorise our packages of big chop of contents and say, those that use DStv in offices what is the content that we have, that firstly we have the rights to, and secondly, would be deemed appropriate.”
Increased Cost of Customs Duty, Forex Crisis Affects Used Vehicles Imports Volume in Nigeria
Used Vehicles auto dealers in Nigeria have expressed concern over the decline of Tokunbo car imports volume in 2022.
According to the dealers, Tokunbo car imports dropped by 47% as a result of the increased cost of customs duty and the forex crisis.
These auto dealers disclosed that the increased cost of duty on used vehicles by Nigerian customs has affected their car sales. They lamented that the import duties have also affected the number of cars they import into the country which has drastically reduced.
It would be recalled that in April 2022, the Nigerian customs announced that it would update the importation of car edition from 2017 to 2021 in compliance with the ECOWAS Common External Tariff (CET) to the 2022-2026 version in which used cars coming into Nigeria are expected to pay a 20% tariff rate and a NAC levy of 15 percent.
The NAC levy, coupled with the Value Added Tax (VAT) of 7.5 percent, results in an almost 50 percent levy that is now paid on the importation of used vehicles in Nigeria.
Speaking on the decline of the importation of used vehicles in Nigeria, regional manager of Auto Auction Mall Oluwafemi Amisu said that the increase in import duties has 100 percent played an important role in the reduction of importation of used cars into Nigeria.
He also attributed the benchmark of car models to an increase in shipping cost leading to an increase in the price of the vehicles.
Shipping companies that formerly used 2,300 vehicle capacity vessels to ship into the country have visibly downsized to 1,000 or 1,500 capacity vessels.
“Majority of transactions made by Nigerians importing vehicles are within the 08-010 model range, which typically cost N400, 000 –N600, 000 to clear. However, since 2014 has been chosen as the benchmark, clearing costs have increased to between N1 million and N1.7 million,” he added.
Also, another challenge that has been attributed to the decline of importation of used vehicles in Nigeria is the Forex crisis which auto dealers lament has affected the purchasing power of customers. They added that people now prefer to buy Nigerian used cars instead of foreign used cars, even so, Nigerian used cars have also become very expensive.
Findings by Investors King reveal that the duty rate is majorly the reason for the drop in the importation of used vehicles, as most of the vehicles coming into Nigeria are below 2013, which mandates that any auto dealer bringing any car lower than that into Nigeria will pay a duty of 2013. Due to this, most of the vehicles are reportedly passing through Cotonou Port.
Ajay Banga Nominated as Sole Candidate for World Bank Presidency
The World Bank Group’s Board of Executive Directors has announced that Ajay Banga, a United States national, is the only nominee for the position of the next president of the bank.
This news follows US President Joe Biden’s nomination of Banga to lead the World Bank in February, citing his suitability for the role at “this critical moment in history.”
Banga, who was born in India and is a naturalized US citizen, is currently serving as vice chairman at General Atlantic and previously worked as the chief executive of Mastercard Inc. If confirmed, he would become the first-ever Indian-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank.
The World Bank’s Board of Executive Directors will now conduct a formal interview with Banga in Washington D.C., with the expectation of concluding the presidential selection in due course. The current president of the World Bank, David Malpass, is set to step down in June, nearly a year before his term is scheduled to expire, and Banga is expected to replace him.
Banga’s nomination comes at a time of increasing global economic uncertainty, with the COVID-19 pandemic exacerbating pre-existing inequalities and challenging the resilience of many countries’ financial systems. As such, the incoming World Bank president will face significant pressure to navigate the institution through these difficult times, while also addressing concerns around climate action and the role of the World Bank in promoting sustainable development.
While Banga’s nomination as the sole candidate for the position of World Bank president may come as a surprise to some, it also reflects the United States’ historical dominance in the governance of international financial institutions. However, it remains to be seen how Banga will use his position to shape the future direction of the World Bank and address the complex challenges facing the global economy.
Unilever Nigeria to Focus on Higher Growth Opportunities by Exiting Home Care and Skin Cleansing Markets
Unilever Nigeria Plc, one of the leading Fast-Moving Consumer Goods (FMCG) companies, has announced its decision to exit the home care and skin cleansing markets.
The company disclosed that the decision would only affect three of its brands – OMO, Sunlight, and Lux. According to Unilever Nigeria, the move is aimed at accelerating the growth of the organisation and sustaining profitability.
The restructuring of Unilever Nigeria’s business model is in response to the tough business environment in Nigeria, where many organisations and individuals have found it difficult to access cash due to the Naira redesign policy of the Central Bank of Nigeria (CBN).
Unilever Nigeria’s Managing Director, Mr Carl Cruz, noted that the offloading of the home care and skin cleansing portfolios would enable the company to “concentrate on higher growth opportunities.”
Unilever Nigeria has a strong competition in the business categories it is exiting. However, the company’s products are also market leaders in the sector. Mr Cruz added that the company was repurposing its portfolio by gradually exiting two categories, home care and skin cleansing, affecting only three brands (OMO, Sunlight, and Lux).
This would allow Unilever Nigeria to drive the rest of its brand portfolio for growth into the future and strengthen business operations with measures to digitize and simplify processes.
Unilever Nigeria is a truly Nigerian business and the oldest serving manufacturer in the country. The company’s decision to exit the home care and skin cleansing markets is in line with its commitment to adapt to changing market circumstances and reposition itself to better meet the needs of its consumers, shareholders, and employees.
Mr Cruz said, “By making these changes, we will unleash the sustained and profitable growth we need to be here for the next 100 years as well.”
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