MultiChoice Pumped Ksh.57B into Kenyan Economy In Five Years

MultiChoice Pumped Ksh.57B into Kenyan Economy In Five Years

L-R: Vaibhav Rathi, Accenture Strategy Business Strategy Manager; Reatile Tekateka, MultiChoice Group Executive Head of Corporate Affairs; Ruth Omondi, Ag. Finance Manager MultiChoice Kenya and Wolfgang Popp, Accenture Strategy Principal Director at the launch of MultiChoice Kenya’s socio-economic impact report

MultiChoice on Thursday reported that it contributed an estimated KSh57 billion to the Kenyan economy between FY15/16 and FY 18/19 as part of creating shared value and long-term commitment to the country.

While releasing an independent socio-economic impact report done by Accenture, the amount reported was made directly and indirectly to the Kenyan GDP between the period 1 April 2015 – 31 March 2019.

The company’s economic impact was evaluated through its records on the procurement of goods and services in its supply chain and associated ripple effects through the economy. Deloitte also measured MultiChoice Kenya’s direct contribution to Kenyan GDP through the sum of its profits, wages and taxes paid in Kenya.

“The report highlights the value created for the economy and society, the creative industry, adjacent industries and consumers. The report provides an overview of the impact that MultiChoice has on both internal and external stakeholders and places the company in the context of the entire Kenyan economy while demonstrating the success of the business over the years,” said Ruth Omondi the Ag. Finance Manager at MultiChoice Kenya.

The entertainment category contributed a total Value of $219.3M to Kenya’s economy during the reporting period. USD 17.5M has been paid in direct taxes
while USD 69.6M has been paid in indirect taxes. 1.2M USD has been paid in regulatory fee contributions and up to USD 110.6M in GDP uplift from employment has been generated.

Its role in developing the local content industry through its local channels, SuperSport and infrastructure investments has contributed USD 138M over the period 1 April 2015 – 31 March 2019.

In the reporting period, the value injected throughout the value chain to distributors, installers and ancillary suppliers for the ongoing operations of MultiChoice
including distribution of devices and transmission masts as well as ancillary suppliers amounts to USD 203.6Million.