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Broadcaster CANAL+ becomes first French company to list in Johannesburg

CANAL+, which had a market capitalisation of £2.25 billion (51 billion rand) on the day prior to its pre-listing announcement on May 12, is the only global media and entertainment group on the exchange.

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Shares of pay-TV group CANAL+ (CAN.L), rose on its Johannesburg Stock Exchange trading debut on Wednesday, when it became the first French company to list ‌in South Africa following a deal with local broadcaster MultiChoice Group last year.

The company, which has a primary listing in London, climbed to 58.50 rand at market open.

Reuters reported that at the time of CANAL+’s acquisition of MultiChoice in 2025, it said it would have a secondary listing ⁠in South Africa, providing a boost for Johannesburg’s stock exchange, which has suffered from a series of departures and few high-profile joiners in recent years.

CANAL+, which had a market capitalisation of £2.25 billion (51 billion rand) on the day prior to its pre-listing announcement on May 12, is the only global media and entertainment group on the exchange.

Its move into English-speaking Africa reflects its stated ambition to become a global entertainment platform ‌across ⁠Europe, Africa and Asia

.CEO Maxime Saada said the Johannesburg secondary listing aligns the group’s capital, government relationships and creative resources with African investors, partners and audiences.

“Our hope is for this listing to enhance the liquidity of our shares, ⁠to broaden our shareholder base and to support our growth ambitions. But more than that, we believe that we can create value in Africa,” he told ⁠spectators before blowing into a Kudu horn to signal the company’s market debut.

JSE chairman Phuthuma Nhleko said the listing reflects strong global confidence ⁠in South Africa’s capital markets, reinforcing the bourse’s role in linking international capital with African growth opportunities, and highlights continued belief in the continent’s long-term prospects.

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MTN Pushes Back Fast Data Depletion Complaints To Subscribers

MTN Nigeria’s General Manager of Network Performance and Quality Assurance, Mr Mike Ndukwe, said video streaming, social media activity and automatic downloads were among the main causes of fast data depletion.

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MTN Nigeria has blamed poor phone settings and unmanaged data consumption for the rapid depletion of subscribers’ data bundles.

The company spoke at its Data on Trial experience in Abuja on Monday, where executives urged users to check how their devices and apps use data.

MTN Nigeria’s General Manager of Network Performance and Quality Assurance, Mr Mike Ndukwe, said video streaming, social media activity and automatic downloads were among the main causes of fast data depletion.

He advised subscribers to disable automatic media downloads, restrict background data usage and set apps to download large files only when connected to Wi-Fi.

Ndukwe argued that data depletion generally comes from users’ online activities or phone settings, not unexplained deductions.

He urged subscribers to understand how their devices and applications consume data.

MTN Nigeria CEO Mr Karl Toriola linked data pricing to the operational costs telecom operators face.

He said operators spend heavily on electricity, transportation and other infrastructure needed to keep telecom sites running.

Toriola said MTN spent about N4.05 trillion on power in the preceding year.

He pushed back against the view that data is always more expensive in Nigeria. “Even within the context of data being perceived as more expensive in Nigeria, the UK is the example I was giving,” Toriola said. “Please, understand that in this country, as well as some other African countries, we are providing power and transportation to all our sites. The cost of electricity, for instance, is higher here than in the UK.”

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Investors from 120 countries participate in Dangote Refinery’s IPO

Investors from all 54 African countries and five other continents participated in the offering, the company said.

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Africa’s richest man Aliko Dangote has closed the continent’s biggest initial public share offering for the oil refinery, claiming to have raised funds from investors in 120 countries.

The IPO for the Dangote Petroleum Refinery was initially due to close on October 13 but was extended by two weeks to allow more Africans to participate. It closed today, Wednesday, October 27.

The company did not disclose how much money was potentially raised by the offering, after saying its target was $1.6 billion.

But Aliko Dangote said earlier this month that it had exceeded that goal by “more than three, four times”.

“This is a historic achievement for Africa. It shows what is possible when we believe in our continent, work together and invest in our shared future,” he said in a statement late Tuesday.

The massive refinery has a capacity of 700,000 barrels per day and aims to double its output to 1.4 million barrels per day, potentially making it the world’s largest refinery, surpassing the Jamnagar refinery in India.

Investors from all 54 African countries and five other continents participated in the offering, the company said.

“Investor applications spanning 120 countries demonstrate the extraordinary international interest in our business and the confidence that investors are placing in the future of this refinery,” Aliko Dangote said.

“The opportunity to own a stake in a major African industrial enterprise has reached investors across every African country and all six inhabited continents,” he added.

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Dangote Refinery’s IPO Ends Tomorrow

“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.

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[File photo] Opening ceremony of Dangote Refinery’s IPO on the NGX, September 14,2026

Dangote Petroleum Refinery & Petrochemicals has confirmed that its Initial Public Offering (IPO) will close on Tuesday, 27 October 2026 as scheduled, with no extension.

In a statement, the management said that the IPO has become a historic ownership moment, an opportunity for Africans at home and abroad to own a stake in one of the continent’s most strategic industrial assets.

“Investors recognise that this refinery is not merely an energy asset. It is a platform for industrial growth, foreign-exchange generation, regional trade, energy security and economic development across Africa,” management said.

The offer was structured to ensure ordinary investors participate alongside institutions, broadening ownership of the world-class asset.

“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.

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