MultiChoice CEO Calvo Mawela took home R35 million in total compensation for the past financial year — a steep drop from the R51 million he earned the previous year — despite steering the company from a R4-billion loss to a R1.8-billion profit.
The turnaround was powered by a R3.4-billion sale of MultiChoice’s 60% stake in NMSIS to Sanlam, alongside aggressive cost-cutting measures that yielded R3.7 billion in savings, beating internal targets.
Still, the pay-TV giant faced considerable challenges: revenue dropped 9% to R50 billion, and the company lost 1.2 million subscribers due to intensifying pressure from global streaming rivals and piracy.
Mawela’s performance was a mixed bag — while he delivered strong results through the BetKing investment and exceeded cost-saving goals, Showmax, MultiChoice’s streaming platform, continued to underperform in an increasingly saturated market.
The cut in Mawela’s pay is largely attributed to lower long-term incentives, linked directly to performance metrics, including growth in digital services and subscriber retention.
The contrast between the company’s financial rebound and the CEO’s reduced compensation underscores the tightrope MultiChoice is walking: aggressively controlling costs while still struggling to compete in a rapidly evolving digital media landscape.
With more global platforms entering African markets, the next year will test whether MultiChoice can sustain profitability without compromising innovation.
