Warner Music Group Completes Full Acquisition of Africori, Marking Major Milestone in African Music Expansion
Warner Music Group (WMG) has completed its full acquisition of Africori, following its initial investment five years ago and majority stake purchase in early 2022. This strategic move strengthens WMG's presence in Africa's growing music market.
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Key details of the acquisition:
- Africori will continue operating independently as a Warner Music subsidiary
- Yoel Kenan remains CEO, reporting to Warner Music Africa MD Temi Adeniji
- Systems have been aligned to allow Africori artists to access Warner Music's global network
- Africori serves over 7,000 independent artists
- Recent successful releases include "Sdakiwe Sbali," "Ndsize," and "Vuka"
Temi Adeniji, Warner Music Africa MD, describes this as "a landmark moment" for their African operations. She emphasized that proper investment and cooperation have created value for artists while maintaining the entrepreneurial spirit of their local partner.
The acquisition reflects the growing focus on Africa's music market, with major industry players expanding their presence:
- Live Nation investing in South Africa
- Universal Music maintaining majority stake in Mavin Global
- Yamaha partnering with Audiomack
- Regional streaming platforms like Mdundo targeting aggressive growth
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This complete acquisition positions WMG strategically in Africa's developing music industry, enabling better support for local artists while facilitating their access to global audiences through Warner's international network.
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