CANAL+, the new owners of Multichoice, listed on the Johannesburg Stock Exchange (JSE) on Wednesday in South Africa, marking a significant step in strengthening the Group’s dual-continental approach and reinforcing South Africa’s role as a gateway to global capital and African growth.
Strategic Dual Listing
The move enhances the JSE’s sectoral diversity and provides local investors with direct, brand-denominated exposure to a globally diversified media and entertainment business with a substantial African footprint. CANAL+ had previously listed on the London Stock Exchange in December 2024. Using the fast-track framework, it became the first French company to list on the JSE, further solidifying links between the capital markets of South Africa and Europe.
As the only global media and entertainment company listed on the JSE, CANAL+ offers a unique investment opportunity for investors on the exchange.
Company Overview
CANAL+ is a global media and entertainment company deeply rooted in both Africa and Europe. With over 42 million subscribers worldwide as of December 31, 2025, operations in more than 70 countries, and approximately 15,000 employees, the company provides an unrivaled mix of local and global content on a platform designed for effortless discovery. In Europe, CANAL+ boasts over 18 million subscribers across 12 countries, holding leading positions in many markets. In Africa, where it has operated for over 30 years, it now has 23 million subscribers across more than 40 African countries, offering content in over 50 languages.
Growth Prospects
According to the firm, its listing on the JSE aligns with its long-term strategy to expand in high-growth markets, particularly sub-Saharan Africa. Rising connectivity, a young and growing population expected to increase by 800 million by 2050, strong GDP growth of 4.5 percent anticipated between 2026 and 2030, and accelerating demand for content and connectivity continue to drive sector growth. The JSE listing will increase CANAL+ liquidity and enable African investors to benefit from its growth.
Leadership Comments
Maxime Saada, CEO of CANAL+, stated: “Joining the Johannesburg Stock Exchange is a statement of our ambition and illustrates our belief in Africa’s future and its creative industry. We are proud to become the first French company ever to list in Johannesburg and the only global media and entertainment company listed on the exchange. Following our listing on the London Stock Exchange 18 months ago, this dual listing reinforces our ambition to be a bridge between Europe and Africa and anchors our dual-continental approach, consolidating our unique position in the global media and entertainment industry. CANAL+ serves more than 40 million subscribers and generates €9 billion in annual revenue. Africa will be our growth engine for years to come, and we are dedicated to creating value on the continent and sharing it with our African partners, investors, and the creative community. By welcoming African investors, we deepen our roots, diversify our investor base, and lay the foundation for the next phase of our growth.”
Valdene Reddy, Group CEO of the JSE, commented: “We are proud to welcome CANAL+ to the JSE and to mark the first listing of a French company on our exchange. CANAL+ has built one of the world’s leading media and entertainment businesses, with a significant and growing presence across Africa. Their listing on the JSE is an important milestone — not only for the company, but for the continued internationalisation of African capital markets. It reflects the growing connectivity between African and global markets and reinforces the role of the JSE as a platform through which international companies and investors can participate in the continent’s long-term growth story. We look forward to supporting CANAL+ in this next chapter as a listed company on the JSE.”
