Kwese TV, the satellite and broadcasting network owned by Econet Media has taken a stake in Iflix Africa. The company disclosed this in a press release posted on its website.
Though Kwese did not disclose the size of the stake or the transaction’s cost, it described it as significant. In the statement, it also disclosed that Iflix would be
the core vehicle to deliver seamless mobile experiences to millions of viewers in Africa.
The company which was founded in 2016 is a subsidiary of the Econet Group, owned by Zimbabwean billionaire, Strive Mayisiwa. Kwese had last month signed a partnership with MTN, for the distribution of its decoders in Nigeria, through MTN stores. Kwese TV operates in Nigeria, South Africa, Ghana, and Kenya.
Iflix Africa was founded in June 2017 with headquarters in Cape Town, South Africa. It has since launched its operations in Nigeria, Kenya and Ghana, Sudan and Zimbabwe. The company is a subsidiary of the Iflix Group which was founded by Patrick Grove, CEO of Catcha Group, Mark Britt, and Evolution Media, a merchant bank focused on the media, sports, and entertainment industries
Competition is about to get hot
The move could spark increased competition in several countries both entities have operations namely Nigeria, Kenya, and Ghana. In Nigeria, it would be going head-on with DSTV which is the dominant operator. TSTV, which had introduced itself with much fanfare, seems to have fizzled out.
