Warner Music Group has completed its full acquisition of Africori, following its initial investment five years ago and majority stake purchase in early 2022. The move strengthens WMG's presence in Africa's rapidly growing music markets.

Key Points 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
• Financial terms were not disclosed

The acquisition marks a significant development in Africa's music industry landscape, where streaming platforms and major labels are increasingly investing. Recent successful tracks from Africori artists include "Sdakiwe Sbali," "Ndsize," and "Vuka."

Temi Adeniji, Warner Music Africa's MD, emphasized that the partnership has already demonstrated value through international remixes and cross-collaborations that have elevated artists' careers.

This move aligns with broader industry trends in Africa, where companies including:

• Live Nation (through Quicket ownership)
• Universal Music (via Mavin Global)
• Yamaha (in partnership with Audiomack) are expanding their presence across the continent.

The acquisition positions Warner Music Group to capitalize on Africa's growing music market, particularly as regional streaming services like Mdundo target aggressive growth.

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