East Africa´s leading music channel, TRACE Mziki has officially finalized the acquisition of a 70% stake in Qwetu Radio. A deal that started off back in September 2018.
It now gives the global urban music television and entertainment network a holding in Kenya´s highly competitive urban radio entertainment section.
Trace already set up its East African hub in Westlands, Nairobi. Danny Mucira, the MD for the East African cluster, steps in as the lead in Kenya.
Wednesday, the 6th of November 2019, Trace launched its newly branded, Trace Radio 95.3 FM which is exclusively for music.
Olivier Laouchez, Co-founder, Chairman and CEO of Trace globally, said:
Our vision is to increase this, to become the music radio market leader in Kenya by 2022. With Trace Radio 95.3, we are currently working to build a sustainable business model. After which we will introduce a diverse range of products and platforms targeting the growing interest in urban music and entertainment culture in Kenya.
The company is set to inherit Qwetu Radio´s estimated 4% market share in the urban music and entertainment category in Kenya.
Trace´s new products are: Trace Radio 95.3 FM, Trace Gospel and Trace Play. Plus the already established Trace Mziki that controls about 66% market in the Kenya music TV category.
Meanwhile, plans to launch Trace Academia portal are underway. This will enable the free accessibility of educative and creative content online.
Therefore targeted towards empowering youths to explore their gifts and potential in the creative arts sector.
During the launch of the hub and Trace Radio 95.3 FM, Aline Kuster Menager – France Ambassador to Kenya – said Trace plans to establish roots with locals in Africa.
Kenya is indeed a key priority country for TRACE in Africa. As the ambassador, I am keen to further engage on how best to harness the creative and cultural industry between Kenya and France.