Phuthuma Nathi

The performance of MultiChoice South Africa, which is part of the Video Entertainment business, over the years has resulted in Phuthuma Nathi becoming one of the most successful empowerment schemes in South Africa. 

The listing and unbundling of MultiChoice Group is expected to create even more value for Phuthuma Nathi shareholders, as follows:

  • Firstly, in recognition of Phuthuma Nathi shareholders’ support over the years - and to underline Naspers’ commitment to transformation in South Africa - Naspers intends to allocate an additional 5% stake in MultiChoice South Africa to Phuthuma Nathi shareholders. Importantly, this will be at no cost to the Phuthuma Nathi shareholders. This means that the Phuthuma Nathi shareholders’ interest in MultiChoice South Africa and its dividend flows is expected to increase by 25%.
  • Secondly, it is the ambition of MultiChoice Group to enable 25% of the Phuthuma Nathi shareholders’ original shareholding (i.e. before the allocation of the additional 5%) to be exchanged for MultiChoice Group shares that will be freely tradeable, therefore unlocking incremental value for Phuthuma Nathi shareholders. Achieving this outcome is a complex issue and any solution will require thoughtful analysis as well as, potentially, Phuthuma Nathi board and shareholder approval.

For more information visit the Phuthuma Nathi website – – or contact the call centre on 0860 116 226.