Malawian music streaming service Mvelani plans Nigeria expansion
In a space where acquiring funding is touted to be quite difficult, Malawian music streaming start-up Mvelani, owned by Dumisani Kapanga, has reportedly succeeded in raising $57 000 in funding from an investor. The platform is planning to use this money to launch its mobile app and then expand to Nigeria.
Mvelani, which launched early last year, provides a template that allows artists share their music on the platform by creating an account and uploading songs—after which users are able to stream music.
Speaking to Disrupt Africa, Kapanga said that the service intends “to offer localised advertising targeted at African businesses, so if you are in Lusaka we will be able to serve adverts from businesses near you.”
He continued: “We are also planning on increasing our footprint in Nigeria. We have to date been focused on the Malawian market and want to expand from there”. Bringing listeners to the platform, he says, will take them away from piracy, and that less monetised platforms allow artists to generate far greater royalties.
To think that the so called fund was raised from a single angel investor is quite laudable. Perhaps this will lead to investments in other key areas.
First published by Techpoint on 17 March 2016.
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