Hi everybody! Welcome to today’s edition of TC Daily! If this mail was forwarded to you, please take a moment to subscribe. Join our community!

Multichoice Group has released its first annual report as a public company for the year ending in March 31, 2019. The report is nearly all positives and it showed that DStv, its crown jewel, continues to attract new customers. DStv gained 1.6 million new users to bring total number of subscribers to 15.1 million. Multichoice’s digital services, ShowMax and DStv Now, are also booming. According to the company, the number of active users on both services has doubled year on year. But that’s how far the good news lasts though. The report highlights that DStv has continued to lose premium subscribers for the second year running. Without disclosing the figures, the company said its annual return per user dropped from R335 to R322. So even though the service seems stable and is scoring new users fast, declining premium users could have bigger impacts on long term revenue growth. And this something its investors might want to keep an eye on.

Nigerian fintech startup, SureRemit has announced it is expanding into Australia. The startup which uses blockchain technology to reduce the cost of global remittance transfers, announced its Australia expansion yesterday via Twitter. This follows earlier expansions into the US, Austria, France and Italy in the last few weeks. In fact, the company has expanded to at least 13 countries in June 2019 alone.

Six African innovators have been named winners of the Commonwealth Secretary-General’s Innovation for Sustainable Development Award. They include:  Elizabeth Kperrun (Nigeria), Rosette Muhoza (Rwanda), John Oroko (Kenya), Chukwudi Anyanaso (Nigeria), Peter Rubashumira Tibigambwa (Uganda) and Franca Ma-ih Sulem Yong (Cameroon). As winners, they each received £2000 prize money alongside a trophy and a certificate.