Understanding MultiChoice SA Joint leadership review from the MultiChoice Group and ˀultiʶ˛oice Sʴ c˛air and c˛ie˙ e˫ecuti˩e o˙ficer “MultiChoice SA creates a foundation for the MultiChoice Group in terms of excellence in execution, innovative development of new products and services and capital support for the broader MultiChoice Group through the same dividend flows that reward Phuthuma Nathi investors for their ongoing support.” Imtiaz Patel Chair Dear Phuthuma Nathi shareholders Having unbundled from Naspers and separately listed on the JSE just over four years ago, the MultiChoice Group has achieved an incredible amount in that time. And none of that would be possible without the support of the MultiChoice SA business. MultiChoice SA creates a foundation for the MultiChoice Group in terms of excellence in execution, innovative development of new products and services and capital support for the broader MultiChoice Group through the same dividend ows that reward Phuthuma Nathi investors for their ongoing support. At the same time, there is a daunting amount of work ahead of us as we manage the MultiChoice SA business through an incredibly challenging global and local macro-economic environment. FY22 saw us exit lockdowns and return to the of ce, but as the pandemic subsided in FY23 we still found ourselves facing global challenges. As global in ation rates rose through the course of the year, central banks followed with sharp hikes in interest rates from historic lows to curb in ation. As interest rates started to squeeze indebted households and businesses over and above rising energy, food and other inputs costs, household budgets and corporate income statements have become increasingly stretched. Imtiaz Patel Chair Our vision for the MultiChoice Group is to be the platform of choice for African households and to enrich their lives by delivering entertainment and relevant consumer services through technology. MultiChoice SA plays a critical role in this vision. As the oldest, largest and most successful business in the MultiChoice Group, MultiChoice SA not only provides critical resources in capital, leadership and business support functions to MultiChoice Group companies, but it is also the heart of the broader group’s culture for innovation and growth. Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 32
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