Browsing: Calvo Mawela

MultiChoice Group executive chairman Imtiaz Patel received almost $1.5-million (about R21.4-million at the time of writing) in base salary, bonuses, pension and short-term incentives in the 2019 financial year.

A jobs bloodbath is looming at pay-television operator MultiChoice Group, which said on Friday it will enter into a “consultation process” with 2 194 of its employees as part of a “strategic realignment of its customer service delivery model”.

The pay-television broadcaster, which will list on the JSE later this month, has revealed all the price adjustments to its DStv bouquets, which will take effect on 1 April 2019.

MultiChoice will carry losses incurred by Showmax in the “medium term”, but the goal is eventually for the streaming television service to turn a profit once broadband infrastructure in South Africa and the rest of the continent has been built out further to support it.

MultiChoice Africa Group, which will list on the JSE next month, expects to pay executive chairman Imtiaz Patel R22.2-million for the year ended 31 March 2019, up from R19.7-million in the 2018 financial year.