This merger, which extends the long standing partnership between Kwesé and iflix across the African continent, will see Kwesé acquire majority shareholding in iflix to form a new dynamic TV and mobile offering.
Kwese’s significant stake in iflix Africa will now form part of Kwesé’s diverse broadcast offering, as the core vehicle to deliver seamless mobile experiences to millions of viewers in the continent.
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.
Mark Britt, iflix Group co-founder and Chief Executive Officer, says the strengthening of their relationship with Econet Group is a huge milestone for iflix.
He says following the initial phase of building their business in Africa, they have seen tremendous growth across their operating markets, far exceeding their expectations.
“Econet’s deep experience and success in media and telecoms will be a huge advantage and enable us to continue to grow rapidly,” Britt adds.
Kwese is an Econet subsidiary.
Strive Masiyiwa, Econet Group Founder and Executive Chairman, says the 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,” Masiyiwa says.