This archive report was first published on 6 November 2019.
On November 6, 2019, Trace, the global urban music television and entertainment network, finalized the acquisition of a 70-percent stake in Qwetu Radio, a Kenyan urban radio station.
The deal, which began with talks in September 2018, gives Trace a foothold in the highly competitive urban radio entertainment segment in Kenya.
Following the acquisition, Trace has set up its East African hub in Westlands, Nairobi, which will be led by Danny Mucira as the MD for the East Africa cluster.
Trace has also launched the newly branded Trace Radio 95.3 FM, a music-only radio station, which inherits Qwetu Radio's estimated 4% market share in the urban music and entertainment category in Kenya.
According to Olivier Laouchez, Co-founder, Chairman and Chief Executive Officer of Trace worldwide, the company aims to increase its market share and become the music radio market leader in Kenya by 2022.
Trace plans to invest locally in Africa with local staff and partners, and has announced plans to launch several new products and platforms targeting the growing interest in urban music and entertainment culture in Kenya.
