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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.

Published

2 months ago

June 3, 2026

OCHEFA

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• CANAL+ logo

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.

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.

Related Topics:CANAL+ Johannesburg Stock Exchange listing Featured

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Cardoso Urges Banks To Lend Out Idle Funds With CBN * Retains MPR at 26.5%

Cardoso made the call on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21.

Published

2 hours ago

July 21, 2026

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The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso , urged banks from keeping idle funds with the apex bank and encouraging increased lending into the economy.

Cardoso made the call on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21.

The apex bank retained the Monetary Policy Rate (MPR), also known as benchmark interest rate, at 26. 5 percent.

This decision marks the second consecutive retention of the MPR at 26.5 per cent, following a 50-basis-point reduction in February from 27 per cent.

“The committee’s decision to maintain the current policy stand follows a thorough assessment of the balance of risk,” said Cardoso.

He emphasised that although headline inflation moderated marginally in June 2026, global uncertainties have heightened due mainly to the renewed hostilities in the Middle East.

The MPC also adjusted the asymmetric facilities corridor around the MPR to +50/-450 basis points—a move aimed at discouraging banks from keeping idle fund with CBN.

Furthermore, the committee maintained the Cash Reserve Ratio (CRR) for commercial banks at 45 per cent, retained the rate for merchant banks at 16 per cent, and kept the CRR on non-TSA public-sector deposits at 75 per cent for liquidity management considerations.

Cardoso said despite the global uncertainties, the Nigerian economy has “remained largely resilient to the external shocks”.

Business

CBN admits it opened domiciliary accounts for PFIPC agency

Represented by the Director of its Banking Services Department, Hamisu Ibrahim, the CBN said that the accounts are one in US dollars, the other in British pounds sterling, were opened following a mandate received from the Office of the Accountant-General of the Federation.

Published

11 hours ago

July 21, 2026

OCHEFA

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File photo : PFIPC agency DG, Adeniyi Adeyemi

The Central Bank of Nigeria had admitted that it opened two foreign-currency domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council (PFIPC).

The apex bank made the confirmation, yesterday, during the public hearing convened at the National Assembly Complex by the House of Representatives Ad-hoc Committee investigating the existence and operations of the PFIPC, chaired by Yusuf Gagdi and inaugurated by Speaker Tajudeen Abbas.

He explained that on July 30, 2025, CBN received a mandate dated July 29, 2025 from the Office of the Accountant-General.

“We received the mandate to authorise two accounts, one a US dollar domiciliary account, the other a pound domiciliary account, for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council,” Ibrahim told the committee.

He explained the CBN’s verification process, “The process of opening an account requires a mandate from the Office of the Accountant-General of the Federation.

“Once we receive that mandate, we perform all the necessary verifications to confirm that this mandate is actually coming from that office.

The department that handles the mandate is different from the department that actually does the account opening,” he said.

Nevertheless, he noted that no one came to activate the accounts after they were opened.“We did not receive any correspondence, mandate, signature or mandate cards. We were not introduced to the authorising or approving officers.“Based on that, those accounts remain inactive, with zero balance. There have been no foreign exchange allocations.