Kwesé buys “significant stake” in Iflix Africa
Kwese has acquired a significant stake in Iflix Africa, the two companies announced. Iflix will now form part of Kwese’s broadcast offering. The companies said they have committed extensive resources with local and international expertise in mobile entertainment to serve Africa’s markets.
“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,” said Econet Group chairman Strive Masiyiwa. “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.”
Iflix cofounder Mark Britt said they have seen tremendous growth in their operating markets following their initial partnership with Kwese.
Kwese is currently available in 13 countries with a pay-as-you-watch TV service, and operates a pan-African free-to-air broadcast network in 25 countries.
Iflix will be Kwese’s go-to-market mobile service in each of its territories.