A major investor has keyed into the dream of talented Nigerian music producer and executive, Mr Collins Ajereh, otherwise known as Don Jazzy.
In 2012, after splitting with his former friend and partner, Dapo Oyebanjo, fondly called D’Banj, who they both founder the defunct Mo’Hits together, Don Jazzy set up Mavin Records.
Seven years after its establishment, the record label is getting the interest of a company known as Kupanda Holdings, which is putting millions of Dollar into the business.
A report by Music Business Worldwide said the company wants the Nigerian firm to expand its scope to reach more talented artistes.
At the moment, Mavin Records boasts of local music acts like Tiwa Savage, Johnny Drille, Di’ja, D’Prince and Korede Bello.
“Our mission is to grow Mavin Global into the music powerhouse of Africa,” explained Don Jazzy (aka Michael Collins Ajereh), President and founder of Mavin Global.
“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,” Don Jazzy told MBW.
Also speaking, 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.”
Nigeria is the most populous country in Africa, with a population of 180 million. Its local record industry is projected to grow rapidly with increasing smartphone penetration and the rise of digital streaming platforms.
Mavin’s own YouTube channel has over 680,000 subscribers, and its videos have been viewed more than 353m times on the platform to date.
Mavin-signed artist Korede Bello commented: “I’m overjoyed to be part of this new era for Mavin. With the support of this team, I’m excited to release new music for my fans and connect with even more music lovers across the world.”
“We are impressed by the Mavin team’s experience and are pleased to partner with them in their next phase of growth.” Kupanda Holdings is a joint venture between pan-Africa investment company Kupanda Capital and TPG Growth.
Mavin Records started with Don Jazzy, Tiwa Savage, Dr Sid, D’Prince and Wande Coal.
Later, Wande Coal left the label and more artistes were brought like Reekado Banks, Korede Bello, Iyanya and others. Some months ago, Iyanya left the music outfit and later, Reekado followed.