NIGERIA (CelebrityAccess) – Nigeria’s Mavin Records announced Wednesday (Jan. 30) that it has signed a multi-million dollar equity investment and global strategic partnership deal with Kupanda Holdings.
Founded by producer Michael Collins Ajereh (a.k.a Don Jazzy) back in 2012, the label is home to local artists like Tiwa Savage, Johnny Drille, Di’ja, D’Prince and Korede Bello.
The label’s own YouTube channel has over 680,000 subscribers, while its videos have been viewed more than 353M times on the platform to date.
In announcing the partnership via his Instagram, Jazzy said: “Our mission is to grow Mavin Global into the music powerhouse of Africa. By collaborating with artists, African creatives, both local and international partners, so that we can become a globally recognised household name and a go-to platform for connecting African music with the world.”
Going forward, the label’s focus will include scaling operations to meet the rapidly growing international demand for African music, growing its roster and strengthening its services across A&R, touring, marketing, distribution, publishing and partnerships.
Tega Oghenejobo, Chief Operating Officer of Mavin, said: “With the resources and operational capacity Kupanda Holdings brings along with their investment, Mavin is now ready to grow our artist roster across the continent, and partner at a global scale. We are looking to build an institution that will support the fantastic creative ecosystem in Africa, and move Afrobeats to the forefront of the global industry.”
Bobby Pittman, Managing Partner of Kupanda Holdings, added: “Between Don Jazzy’s legacy of defining the sound of modern Afrobeats and developing top African artists, Mavin Global has a unique advantage and opportunity to build the record label that will accelerate bringing African popular music to the world. We are impressed by the Mavin team’s experience and are pleased to partner with them in their next phase of growth.”
The Mavin/Kupanda partnership follows a number of other high-profile investments in the African music industry including by Universal Music Group, which recently opened offices in Côte d’Ivoire and Nigeria, secured licensing with the biggest streaming service in the territory, Boomplay, and acquired a majority stake in Kenyan label AI Records.