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Universal Music Group, Boomplay Expand License to Cover 47 Nations Across Africa

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Boomplay, the leading music streaming and download service based in Africa and Universal Music Group (UMG), the world leader in music-based entertainment, today announced a new landmark licensing agreement that will extend licensing of UMG’s global music catalog from 7 to 47 countries across the African continent, as part of an extended relationship that will benefit African musicians and talent and expand the listening experience for Boomplay users across Africa.

In 2018, UMG became the first major global music company to license music to the service, which has continued to grow its audience reach and influence across Africa in recent years. Boomplay’s catalog currently stands at more than 50 million tracks and it boasts the largest repertoire of local African content globally, with 50million monthly active users (MAU). The renewal and expansion of this licensing deal with UMG, will enable African music fans across the continent to experience the best in both domestic African and International talent.

As one of the first entrants in Africa, Boomplay has been at the forefront of the music streaming market since 2015 and has a deep understanding of the local market. Now the leading African platform, in December 2020, Boomplay surpassed the 100 million app downloads milestone on Google Play. During this time, Boomplay has supported numerous African artists, across a variety of projects, including: The “concert of the year” – which saw UMG-signed Nigerian singer songwriter Tiwa Savage shut down Lagos with her debut performance of 49-99 and saw Boomplay invest in the first-ever documentary film focused on the history of Afrobeats.

Boomplay also gave away 250 million megabytes of data to users free of charge, so they could stream music online during the COVID-19 pandemic. Boomplay and UMG East Africa held conferences that brought together industry stakeholders to find ways of growing and supporting the African music community even further, as highlighted by Boomplay’s announcement to commit $1 million to support up-and-coming artists from the continent.

This agreement underscores UMG’s ongoing commitment to support and grow Africa’s domestic music ecosystems, while also creating new opportunities for Pan-African talent to reach new audiences domestically, regionally and around the world.

Over the past 5 years, UMG has taken a holistic approach to expanding operations across the continent, opening new divisions in Nigeria, as well as becoming the first major music company to establish divisions in Kenya, Côte d’Ivoire, Senegal, Cameroon and Morocco alongside UMG’s longstanding operations in South Africa. This presence will continue to grow throughout 2021 and beyond, as UMG continues to further extend the company’s ability to support domestic artists on the ground across Africa and globally.

Boomplay users will now have access to UMG’s extensive catalog of both local and global recording artists and labels including: Tiwa Savage (Nigeria), Nasty C (SA), Mi Casa (SA), Sauti Sol (Kenya), Cassper Nyovest (SA), Toofan (Togo), Tekno (Nigeria), Suspect 95 (Côte d’Ivoire), Brenda Fassie (SA), Tenor (Cameroon), Black Coffee (SA), Dena Mwana (DRC), Singuila (DRC), Locko (Cameroon), Hugh Masekela (SA), Charlotte Dipanda (Cameroon), Diamond Platnumz (Tanzania), Alpha P (Nigeria), Tomi Owo (Nigeria), Cysoul (Cameroon), Major League Djz (SA), Fior De Bior (Côte d’Ivoire), Larry Gaaga (Nigeria), Prince Kaybee (SA) alongside international artists from the world’s largest music catalog including: Da Baby, Drake, Lil Baby, Justin Bieber, The Weeknd, Ariana Grande, Selena Gomez, Stevie Wonder, Billie Eilish, Booba, Dadju, Tasha Cobbs, Niska, Lionel Richie, Rihanna, Motown’s Catalog and Bob Marley.

UMG’s African Labels will also be supported under the new agreement including: Def Jam Africa, the continent’s first label dedicated entirely to the best in African hip-hop, afrobeat and trap music which launched in five countries in 2020, Motown Gospel Africa, AI Records, Afroforce1 and other distributed labels including: Kalawa Jazzmee, Aristokrat, Family Tree and Soulistic amongst others. The agreement also includes artists and labels distributed via Electromode and Ingrooves Music Group within the continent.

Recent projects include the release of Rhythms Of Zamunda: Music Inspired By Coming 2 America. The acclaimed 16-track Def Jam Africa compilation traces a musical roadmap through Western, Eastern, and South African soundscapes, introducing listeners to some of the continent’s most exciting artists was released last week.

Boomplay’s Director of Content & Strategy, Phil Choi, added “Since our original deal with UMG, the African music industry has seen exponential growth and made huge strides towards being the next powerhouse that it should be. We’re excited to continue partnering with the UMG team to help promote their African and international artists by bringing their catalogue to even more regions across Africa.

Franck Kacou, Managing Director, Universal Music Africa, who lead’s Universal Music Group’s activity across French-speaking Africa said, “We are excited for our artists and labels to be available now to music fans across these 25 French speaking countries, but also to reach audiences across the rest of the continent. Africa is rich with artistic talent and musical culture and continues to inspire millions of Africans for whom music is an essential part of their daily lives. Working alongside Boomplay, we will help introduce these talents to new audiences, as the appetite for music continues to grow throughout these countries.”

Sipho Dlamini, CEO, Universal Music Group, South Africa and Sub-Saharan Africa, said, “We are delighted to expand our relationship with Boomplay, who over the past few years have shown themselves to be dedicated to providing the best in music to fans across the continent. Through this extended agreement, Boomplay will now help supply improved access to the world’s largest and most diverse music catalog to their broad user base, as we continue to introduce the best in African and international music to the rapidly growing streaming audience across Africa.”

Tosin Sorinola, Director of Artist and Media relations said, “We are very optimistic that this expansion will further embed the blossoming relationship between both parties. As a platform, we are committed to ensuring that we help artists spread their music and that our users have access to all the music they love wherever they are. This expansion will afford us an opportunity to help open up more music to our users and opportunities for artists in the new regions.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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President Tinubu Approves N150,000 Non-Refundable Grant for Enugu MSMEs

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President Bola Tinubu has moved to put smiles on the faces of small business owners in Enugu State with the approval of a N150,000 non-refundable grant as part of plans to tackle the economic hardship in the country.

Tinubu’s approval was delivered to business owners in the state by Vice President Kashim Shettima during a visit to the MSME Fashion Hub.

Shettima, who spoke via a statement on Thursday by his spokesperson, Stanley Nkwocha, at the launch of the 5th Expanded National MSME Clinic in Enugu, revealed that the funds are awards from President Tinubu for the outstanding exhibiting MSMEs at the event. 

He assured the beneficiaries that the money was an outright grant with no requirement for repayment, stating that it was a sign of the government’s commitment to nurturing MSMEs.

According to Shettima, “Distinguished ladies and gentlemen, I am pleased to announce that His Excellency, President Bola Ahmed Tinubu, has mandated a grant of N150,000 each to be awarded to outstanding exhibiting MSMEs at today’s event. 

“Let me assure you that this is an outright grant, with no requirement for repayment, reflecting our commitment to nurturing MSMEs and fostering economic growth.”

Speaking further, VP Shettima revealed that small businesses cover 96% of all businesses in Nigeria and contribute more than 45% to the nation’s GDP, adding that the country cannot achieve the desired economic growth without them.

The vice president called for unity in the business sector, he stated, “The only way we can achieve this is by standing united, from Abia to Zamfara, in pursuit of a shared objective. Small businesses account for 96% of all businesses in Nigeria and contribute more than 45% to our GDP. I am sure you understand what this means: without you, Nigeria would be nowhere.”

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Lagos Faces Job Crisis as State Plans Ban on Sachet Water and Single-Use Plastics

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The already high unemployment rate in Lagos State is set to surge even further as the state government plans to ban the production and sale of single-use plastics and sachet water.

The ban, which will take effect in January 2025, was announced by the Commissioner for Environment and Water Resources, Tokunbo Wahab, during a stakeholders’ workshop in Lagos.

At the workshop, aimed at raising awareness about the implementation of the new initiative, Wahab disclosed that the move aligns with the state’s plastic utility policy.

Investors King reported that in January 2024, the Lagos State government began taking bold steps toward effective plastic waste management and promoting a healthy, safe environment.

In that month, the government announced a ban on the use of Styrofoam across the state.

The ban, which came with strict enforcement, left many citizens and residents in the state complaining.

Speaking on behalf of the stakeholders, the Lagos Chairperson of the Association for Table Water Producers of Nigeria (ATWAP), Mosaku Ololade, emphasized the importance of implementing the ban in phases, noting that it would give members ample time for compliance.

He revealed that the union has been actively involved in sensitizing its members while engaging with the government on the way forward.

He said, “We have been engaging the Lagos State Government on the way forward and sensitizing our members on the planned ban.

“We want the government to continue engaging with us. We are a responsible association and are ready to work with the government.

“We have over 2,000 members in Lagos alone with over 10,000 workers.

“We hereby implore the government to implement the ban in phases to allow our members ample opportunity for compliance.”

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Stanbic IBTC Appoints Dr. Kunle Adedeji as Acting CEO Ahead of Leadership Transition

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The Board of Stanbic IBTC has appointed Dr. Kunle Adedeji as the acting Chief Executive Officer of the financial institution ahead of the end of Dr. Demola Sogunle’s tenure on October 31, 2024.

Adedeji, who brings with him over 25 years in the banking sector, was confirmed on October 2, 2024, in a letter addressed to the Nigerian Exchange (NGX) and signed by the company secretary, Chidi Okezie.

Okezie revealed that Dr. Kunle Adedeji‘s appointment is set to take effect on November 1, 2024.

The statement detailed that Adedeji, who was in 2019 appointed as an Executive Director, is also the current Chief Finance and Value Management Officer of the Company.

Okezie noted that he will continue serving in the position while also serving as Acting Chief Executive of the Company.

The statement reads, “Adedeji, brings a wealth of experience and a strong track record of leadership within our organization.

Dr Adedeji, who was appointed as an Executive Director in 2019 is a seasoned financial expert with over 25 years in the banking sector.

“He holds an MBA in Finance from the University of Lagos and a DBA from the SBS Swiss Business School, Switzerland.

He is also the current Chief Finance and Value Management Officer of the Company and will continue in this capacity throughout the duration of his tenure as Acting Chief Executive of the Company.

The Board is confident that Mr. Adedeji’s leadership would be instrumental in driving the growth strategy of Stanbic IBTC Group.”

Investors King learned that Dr. Adedeji is set to succeed Dr. Demola Sogunle, whose tenure as the firm’s Chief Executive will come to an end on October 31, 2024.

Stanbic IBTC expressed gratitude to the outgoing CEO for his significant contributions during his 35 years of service.

“The Board of Directors expresses its heartfelt gratitude for his unwavering commitment, visionary leadership, and pivotal role in steering Stanbic IBTC through various challenges and milestones,” the statement added.

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