Only 18 months after setting up shop in Cape Town, emerging markets streaming video services specialist Iflix has decided to exit the African market and has sold its stake in Kwesé Iflix to Econet Global, Kwesé's parent company.
Iflix entered the African market in June 2017 and expanded after it raised additional capital later that year. (See iflix Raises $133M as It Expands in Africa.)
It then forged a relationship with, and sold a "significant stake" in Iflix Africa to Kwesé, the pan-African TV services unit of Econet Media, in February 2018. (See Kwesé Acquires Stake in iflix Africa.)
Now Iflix has sold its remaining stake in Kwesé Iflix to Econet for an undisclosed sum, saying it can now focus on its core markets in Asia.
For the full story, see this article from our sister publication DTVE: Iflix exits Africa to focus on core Asian markets.
For a broader picture of the streaming video market in Africa, see this longer feature published by DTVE: On-demand Africa.
— The staff, Connecting Africa