The new operating partnership will see iflix drive Kwesé’s mobile video delivery in each of its territories. The investment strengthens an existing partnership between the two companies in sub Saharan Africa, established I 2017. iflix has since established operations in Nigeria, Kenya, Ghana and South Africa, providing African and international TV series, movies, and exclusive programming on demand, in partnership with Kwesé’s broadcast operations.
Without providing figures, the companies said they have each “committed extensive resources with local and international expertise in mobile entertainment to serve Africa’s diverse markets”.
“The strengthening of our relationship with Econet Group is a huge milestone for iflix. Following the initial phase of building our business in Africa, we have seen tremendous growth across our operating markets, far exceeding our expectations,” said iflix co-founder and CEO Mark Britt. “Econet’s deep experience and success in media and telecoms, will be a huge advantage and enable us to continue to grow rapidly.”
Econet Group founder and executive chairman, Strive Masiyiwa welcomed the extended partnership, which he said will help 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,” he added. “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.”
The sub-Saharan pay-TV subscriber base is expected to reach 40.89 million by 2023, a 74% rise on 2017 figures, according to a recent study by Digital TV Research.