Warner Music Group (WMG) has completed its full acquisition of Africori, following its previous majority stake purchase in early 2022. This strategic move strengthens WMG's presence in Africa's rapidly growing music market.

Key Details:

• 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 WMG's African presence. She highlights that proper investment and cooperation have created value for artists while maintaining local entrepreneurial spirit. The partnership has already facilitated international remixes and cross-collaborations for Africori artists.

This acquisition reflects the growing focus on Africa's music market, joining other major industry moves:

• Live Nation's South African investment
• Universal Music's majority stake in Mavin Global
• Yamaha's partnership with Audiomack
• Audiomack's expanded Warner Music deal

Regional streaming platforms like Mdundo are also targeting significant growth, indicating the market's expanding potential. The financial terms of the Africori acquisition remain undisclosed but may be revealed in future WMG earnings reports.

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