Nigeria’s video entertainment provider, MultiChoice Nigeria, recently commissioned Accenture, a top accounting and consulting firm in Nigeria, to measure the socio-economic impact of its business in Nigeria between 2015 and 2019.
A statement quoting the report states that MultiChoice Nigeria had contributed an estimated $2.1 billion (about N800bn) to the Nigerian economy within the period under review.
Accenture estimated that the company had specifically spent over $428 million in developing local creative talent, as a result of sourcing and producing local content for DStv, GOtv, M-Net, SuperSport, and Africa Magic, and investing in building local production infrastructure.
This investment has greatly helped to support the Nigerian movie industry, ensuring that Nollywood movies are available across Africa and the rest of the world.
According to the statement, Adewunmi Ogunsanya, chairman of MultiChoice Nigeria, says, “The report illustrates MultiChoice Nigeria’s total economic impact in Nigeria, including direct, indirect and encouraged influence on the country’s GDP. The statistics provide further information on the considerable positive socio-economic impact that our operations have made in the development of the communities in which we operate.”
Also speaking on the report, John Ugbe, CEO, MultiChoice Nigeria, notes, “As Nigeria’s leading video entertainment provider that delivers great entertainment to our customers, we understand that we have a responsibility to provide socio-economic value through our core business activities. This Socio-Economic Impact Assessment report aims to quantify and articulate the contribution we have made to the Nigerian economy during the Financial Year 2015/16 to 2018/19.”
Through their business operations, investments in technology, local infrastructure, Corporate Social Investment (CSI) initiatives and local partnerships, MultiChoice Nigeria has enriched an estimated two million lives each year through initiatives such as MultiChoice Resource Centres, MultiChoice Talent Factory, GOtv Boxing, Sickle Cell Foundation, the Let’s Play initiative, among others. MultiChoice Nigeria has spent $34.8 million in supporting these initiatives.