Mdundo announces partnership with Airtel Nigeria, a leading telecom provider with 40 million subscribers

Company Announcement no 8-2021

Telecommunication partnerships across Africa is an important part of Mdundo’s growth and monetization strategy. The agreement with Airtel Nigeria is the 2^nd telecommunication partnership agreement announced in 2021 by the company following the partnership with Vodacom in Tanzania with a total base of 15.5m subscribers.

Patrick Sambao, Head of Telco at Mdundo says “Mdundo is growing extremely fast in Nigeria and we’re therefore pleased to launch our first telco bundle in this market. Airtel has a clear and ambitious product team with a strong focus on delivering new and innovative solutions to the market aligned with Mdundo’s vision”.

Mdundo has introduced telco-partnerships as a new monetization strategy earlier this year and announced that this revenue stream within a few years is expected to account for 40% of the company’s revenue.

Outlook: Mdundo expects additionally 2-3 telecommunication partnership agreements before end of the calendar year 2021. This supports 1) Mdundo's mission to become the primary pan-African music platform and 2) to achieve a larger share of paying users over time. The partnerships are expected to be the proof of concept to develop further agreements within Africa.

Airtel: Airtel Nigeria is a part of Airtel Africa which is listed on the London Stock Exchange. Airtel Africa is majority owned by the Indian communication services company Bharti Airtel. Bharti Airtel is the second largest mobile network operator in the world with over 450m subscribers across 18 markets.

Mdundo: Mdundo is a pan-African leading music service with 7.1m monthly active users, the company works directly with 100,000 African artists and offers a catalogue of 2m African and international songs. African artists can manage their profile through a Mdundo account providing the musicians with a high level of visibility into catalogue performance and earnings.