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, marking a significant move in the highly competitive urban radio entertainment segment in Kenya.
The deal, which commenced with talks in September 2018, has given Trace a strong foothold in the East African market. The company has since set up its East African hub in Westlands, Nairobi, which will be led by Danny Mucira as the MD for the East Africa cluster.
Under the new ownership, Qwetu Radio is reportedly planning to take in popular radio duo, Maina and King'ang'i, who currently host the morning show at Classic 105, a Radio Africa Group subsidiary.
Trace 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 to become the music radio market leader in Kenya by 2022.
