Southeast Asian video streaming platform iFlix has sold rest of its African business unit to Kwesé iFlix owned by Econet Global Limited, a pan-African broadcasting company.
Following the sale, iFlix will continue to provide technical support to Econet, in order to maintain viewer experience quality.
The Malaysia-based startup first announced its entry to sub-Saharan African market in June 2017.
Eight months later, Econet acquired a “significant” stake in the business unit, which was then rebranded from iFlix Africa to Kwesé iFlix.
The service expanded to East and Southern Africa, offering a combination of live sport, entertainment, as well as local and international series and movies.
“It has been an incredible journey and learning experience, launching our service in Africa. The acquisition by the Econet Group, our regional partner and Africa’s leading broadcast network, is a significant milestone for the African business, and further reinforces iFlix’s commitment to our core markets in Asia, particularly Indonesia, Malaysia and the Philippines which continue to grow from strength to strength,” iFlix Co-Founder and CEO Mark Britt said in a press statement.
For Econet, the acquisition is part of its business strategy to “de-emphasise” its direct-to-home service in order to refocus on digital platforms.
Econet CEO Hardy Pemhiwa dubbed mobile connected services as the “future of broadcasting” in the continent.
iFlix is currently available to consumers in Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, Myanmar, Vietnam, the Maldives, Kuwait, Bahrain, Saudi Arabia, Jordan, Iraq, Lebanon, Egypt, Sudan, Cambodia, Nigeria, Nepal, Bangladesh and Morocco.
