Kwese buys “significant stake” in iflix

Pay-TV provider Kwese acquires a “significant stake” in iflix Africa. Kwese, the Econet Media-owned company which was already in an existing relationship with iflix was a partner in launching Iflix’s SVOD service in sub-Saharan Africa.

iflix is currently operating in Nigeria, Kenya, Ghana and South Africa, and claims an “extensive collection” local African and international series and movies – including some first-to-market and exclusive programming.

Strive Masiyiwa, Econet Group’s Founder and Executive Chairman, quoted, “iflix Africa will be its “core vehicle” for delivering mobile experiences to millions of viewers in Africa, with both companies having already committed “extensive resources” to the offering. Terms of the deal were not disclosed. Our companies share a mutual passion for innovation, along with a deep understanding of the culture and evolution of digital businesses.”