Econet Media’s Kwesé has acquired a significant stake in iflix Africa, which will now form part of its diverse broadcast offering.
Commenting on the development, Strive Masiyiwa, Econet Group founder and executive chairman, “We are 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.”
Mark Britt, iflix Group co-founder and CEO, added: “The strengthening of our relationship with Econet Group is a huge milestone for iflix. 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.”
Kwesé distributes its pay-as-you-watch pay-TV service in 13 African countries, while its pan-African FTA network showcasing Kwesé Free Sport is available in over 25 countries.
The operating partnership will see iflix drive Kwesé’s go-to-market mobile delivery in each of its territories.
iFlix currently provides a video streaming service in 24 countries in Asia, the Middle East and Africa.