Africa Business

Kwesé acquires significant stake in iflix Africa

(AppsAfrica)– Kwesé, which already had a distribution deal with iflix Africa, has today acquired a “significant stake” in iflix’s African operation.

Speaking only last week at Africa Tech Summit Kigali, iflix the Subscription Video on Demand (SVoD) service shared optimistic growth projections for Africa, despite low internet penetration rates. With this deal iflix now surrounds itself with major strategic partner Kwese, but ultimately the muscle of Econet and Liquid Telecom which is game changer for iflix’s prospects in Africa.

Mark Britt, iflix Group’s co-founder and CEO, described the deal as “a huge milestone” for his 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.”

Kwesé, which already had a distribution deal with iflix Africa, has today acquired a “significant stake” in iflix’s African operation.

Speaking only last week at Africa Tech Summit Kigali, iflix the Subscription Video on Demand (SVoD) service shared optimistic growth projections for Africa, despite low internet penetration rates. With this deal iflix now surrounds itself with major strategic partner Kwese, but ultimately the muscle of Econet and Liquid Telecom which is game changer for iflix’s prospects in Africa.

Mark Britt, iflix Group’s co-founder and CEO, described the deal as “a huge milestone” for his 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.”

For Kwese, iflix will now become the “core” mobile offering for the pay TV operator, providing local African series and international programming to viewers. This combined team of Kwese and iflix now sets up a battle for viewers with players such as DSTV and Showmax over the coming years.

Speaking during the announcement, Econet Group Founder and Executive Chairman, Strive Masiyiwa said, “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.”

Kwesé is currently available in 13 countries with its PayTV service and in 25 countries with its Kwesé Free Sports channel that broadcasts free sports.

Source:: AppsAfrica

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