South African pay-TV company MultiChoice is bracing for a significant reduction in dividend payouts to its Phuthuma Nathi shareholders, citing financial struggles. Meanwhile, the country's Competition Commission has blocked Vodacom's bid to acquire a co-controlling stake in Maziv, the parent company of Vumatel and Dark Fibre Africa, citing anti-competitive concerns. In a separate development, fintech startup Cleva has secured an International Money Transfer Operator (IMTO) licence from the Central Bank of Nigeria, enabling it to facilitate inbound remittances.

MultiChoice's financial woes are attributed to a decline in DStv subscriptions and weak currencies in key African markets. The company's stock price dropped to R11,060 ($600) on Friday, a 0.81% decline. Phuthuma Nathi shareholders, who rely on dividend payouts rather than stock price movements, are expected to be heavily impacted by the reduced dividend.

The Competition Commission's decision to block Vodacom's fibre deal is aimed at preventing the telecom operator from gaining undue influence over the fibre market. Vodacom's acquisition of a co-controlling stake in Maziv would have given it significant control over independent internet service providers (ISPs) that rely on Vumatel and Dark Fibre Africa. The commission argues that this would have led to anti-competitive behaviour and limited consumer choice.

Cleva's IMTO licence is a significant milestone for the fintech startup, which offers USD accounts to Nigerians. The licence enables Cleva to process international transfers directly, reducing reliance on third-party intermediaries and potentially leading to faster transfers, lower fees, and improved user experience. Cleva joins a select group of startups with IMTO licences, including Flutterwave, Interswitch, and Paga.

The developments in South Africa's telecoms and fintech sectors have significant implications for the industry. The Competition Commission's stance on Vodacom's fibre deal sets a precedent for future mergers and acquisitions, emphasizing the need for fair competition and consumer protection. Cleva's IMTO licence, on the other hand, highlights the growing importance of fintech startups in Nigeria's remittance market.

As the tech industry continues to evolve, it is essential for companies to prioritize fair competition, consumer protection, and innovation. The developments in South Africa and Nigeria serve as a reminder of the critical role that regulatory bodies and fintech startups play in shaping the future of the industry.