Pan-African media company Kwesé acquires stake in iflix Africa

 In news

ECONET Media’s pan-African media company Kwesé TV has acquired a significant stake in iflix Africa to form part of its diverse broadcast offering, as the core vehicle to deliver seamless mobile experiences to millions of viewers in Africa.

iflix is a world leading entertainment service for emerging markets, offering users unlimited access to thousands of television shows, movies and more.

In a statement yesterday, Econet Media said the partnership would create an exceptional mobile offering.

“Having set up operations in Nigeria, Kenya, Ghana and South Africa, iflix offers users the region’s most extensive collection of highly acclaimed local African and international series and movies, including first-to-market exclusive programming. This, in partnership with Kwesé’s broadcast operations and footprint, will create an exceptional mobile offering for consumers on the continent.”

Econet Group founder and executive chairman, Strive Masiyiwa said the group was thrilled to deepen “our operating partnership with iflix to lead the transformation of media in Africa. Our companies share a mutual passion for innovation, along with a deep understanding of the culture and evolution of digital businesses”.

“Mobility in content consumption has grown exponentially in Africa and by partnering with iflix Africa we are ensuring that we are not only taking part in the evolution, but are leading the movement,” he said.

iflix Group co-founder and chief executive officer, Mark Britt said the strengthening of their relationship with Econet Group was a huge milestone for the company.

“Following the initial phase of building our business in Africa, we have seen tremendous growth across our operating markets, far exceeding our expectations. Econet’s deep experience and success in media and telecoms will be a huge advantage and enable us to continue to grow rapidly,” he said.

Kwesé TV is available in 13 countries and has built a large pan-African free-to-air broadcast network showcasing Kwesé Free Sport in over 25 countries.

iflix is available to more than one billion consumers across 24 territories throughout Asia, the Middle East and Africa, establishing itself as a clear market leader in video streaming. Source: News Day

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