In brief: Iflix sheds Africa business to double down on Asian markets

Iflix, the leading entertainment service for emerging markets, has confirmed the sale of the rest of its African business to Econet Global.

Iflix first announced the launch of its service in sub-Saharan Africa in June 2017. Following eight months of rapid growth, the company joined forces with Econet Global, which saw the international group with pan-African origins acquire a significant stake in Iflix Africa.

Source: Iflix

Econet initially acquired a stake in Iflix’s sub-Saharan business in February this year, rebranding it as Kwese Iflix in June.

The acquisition “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,” said Mark Britt, Iflix co-founder and CEO.

The Malaysia-based video-streaming platform continues to operate in north African markets including Egypt, Morocco, and Sudan.