Iflix has sold off its African-focused service, Kwesé iflix, to Econet. Before acquiring the service, the global telecoms company had a major stake in it and played a central role that helped grow the Malaysian-based digital entertainment platform.
This follows Econet’s determination to transform Kwesé TV direct-to-home service into a digitally focused enterprise offering homegrown content.
According to Econet Global’s chief executive Hardy Phemhiwa, he hopes to grow Kwesé iflix’s homegrown content like the recently rolled out Kenya’s Nganya which has recorded tremendous success.
In 2017, Iflix entered the African market in sub-Saharan region, before partnered with Econet in February 2018 to form Kwesé iflix resulting in expansion into East and Southern Africa.
Econet diversified the media content to viewers across the regions and revamped Iflix’s first-to-market exclusive programming giving it a foothold in the African market.
The conclusion of the deal is in line with the revised business strategy of Econet as a group with the Kwesé business to offer premium broadcast services.