Franklin Cudjoe, Founding President of IMANI Africa, has reignited the debate over foreign-owned media operations in Ghana by proposing a bold move: the localization of DStv Ghana’s shareholding. In a post on his official X account, Cudjoe suggested that MultiChoice Ghana, the operator of DStv, should consider floating shares on the Ghana Stock Exchange to allow Ghanaians to benefit directly from its commercial success.
“My brother Sam George, Hon. Minister of Communications—given DStv’s relative success in Ghana, wouldn’t it be great to discuss localisation of its shareholding such as MTN was encouraged to undertake? Floating shares on the Ghana Stock Exchange is one way of retaining some of the profits they must be making locally. Good idea?” — Franklin Cudjoe
The proposal echoes the precedent set by MTN Ghana, which successfully listed on the Ghana Stock Exchange in 2018, allowing thousands of Ghanaians to become shareholders in one of the country’s most profitable telecom firms.
A Call for Economic Inclusion
Cudjoe’s remarks come amid ongoing tensions between MultiChoice Ghana and the Ministry of Communications, led by Hon. Samuel Nartey George. The dispute centers around DStv subscription pricing and the transparency of its cost structure. Cudjoe has previously called for a multi-stakeholder review of MultiChoice’s operations, urging the government to demand full disclosure of its financials.
Floating shares locally, he argues, would not only democratize ownership but also ensure that a portion of DStv’s profits remain in Ghana, contributing to national development and empowering local investors.
Lessons from MTN Ghana
MTN’s public listing was widely praised for its inclusivity and transparency. It allowed ordinary Ghanaians to participate in the telecom giant’s growth while reinforcing regulatory oversight. Cudjoe believes a similar model could work for DStv, especially given its deep market penetration and cultural relevance.
Public Sentiment and Policy Implications
The suggestion has sparked renewed interest in how foreign media companies operate in Ghana and whether more should be done to localize ownership. With growing calls for economic sovereignty and fair market practices, Cudjoe’s proposal may gain traction among policymakers and civil society.
As the debate continues, one thing is clear, the conversation around DStv’s role in Ghana is no longer just about pricing—it’s about ownership, accountability, and national interest.
