It’s only January and the year is already unfolding nicely. Earlier today, Music Business Worldwide revealed Nigeria’s Mavins Records just brokered a multi-million dollar deal with Kupanda Holdings. Kupanda Holdings is a joint venture between investment firm, Kupanda Capital and TPG Growth, the latter company already known for investing in Spotify, Uber, AirBnB and more. The venture focuses on supporting pan-African business with their scale-up efforts.
According to CEO of Mavins Records, Tega Oghenejobo, the label will use the newly injected resources to scale operations to meet “rapidly growing international demand” for African music. In the coming months, the label will make major moves to increase the size of its roster, while doubling its strength in all other music business fronts; from A&R to touring.
Don Jazzy is no stranger to making landmark moves, in 2011 the veteran producer scored production credits on Jay Z and Kanye West’s joint album, Watch The Throne. Speaking on this new partnership, the veteran producer said “Our mission is to grow Mavin Global into the music powerhouse of Africa. By collaborating with artists, African creatives, local and international partners, we can become a globally recognized household name and the go-to platform for connecting African music with the world.”
Mavin Records recently parted ways with front-line man, Reekado Banks, but the label is still home to Korede Bello, Tiwa Savage, Johnny Drille and more. Congratulations to the team, we look forward and all the new developments this new deal will bring for The Mavins Family
Fisayo is a journalist in search of words. Tweet at her @fisvyo