Mavin Records, arguably Africa’s leading record label have reportedly secured a multi-million dollar investment with Kapunda Holdings.
The deal will provide the record label with enough financial power to increase it’s number of music artistes and strengthen some of its services such as patnerships, distribution, publishing and marketing.
With African music and Nigerian Pop in particular gaining mentions and popularity in the recent past, it is for plausible reasons that such deal is coming to the Nigerian entertainment scene at this time and what better way to kick off than with Mavin Records.
Bobby Pittman, Managing Partner of Kupanda Holdings had this to say about the label:
“We are impressed by the Mavin team’s experience and are pleased to partner with them in their next phase of growth”
Kapunda Holdings is a joint venture between two companies, Kapunda and TPG with the latter being a major investor in start-ups like Spotify, STX Entertainment and Uber among others.
With the record label optimizing the use of digital platforms in Youtube, Twitter and Instagram to attract and develop a wide fan base locally and all around the world which has undoubtedly created a solid platform for the likes of Tiwa Savage, Johnny Drill, Reekado Banks, DNA and Korede Bello; there’s no gain saying that the investment will strengthen this advantage as it aims to develop brand patnerships that support artistes values and stories.
In a similar development, the world’s biggest record company, Universal Music Group (UMG) in a bid to strengthen their stake in Africa have opened new offices in Nigeria and Cote d’ivoire and gone on to acquire a huge stake in Kenyan label AI Records.
Mavin Records was founded in 2012 with the main aim of growing the label into the music powerhouse of Nigeria and indeed Africa according to the label’s CEO, Michael Collins Ajereh aka Don Jazzy.