This archive report was first published on 8 November 2019.
TRACE Mziki, a prominent music channel in East Africa, has finalized the acquisition of a 70% stake in Qwetu Radio, a move that began in September 2018.
With this deal, TRACE Mziki gains a foothold in Kenya's highly competitive urban radio entertainment sector.
TRACE Mziki has established its East African hub in Westlands, Nairobi, with Danny Mucira, the MD for the East African cluster, taking the lead in Kenya.
On November 6, 2019, TRACE Mziki launched its newly branded radio station, Trace Radio 95.3 FM, exclusively dedicated to music.
According to Olivier Laouchez, Co-founder, Chairman and CEO of TRACE globally, the company aims to become the music radio market leader in Kenya by 2022.
TRACE Mziki is set to inherit Qwetu Radio's estimated 4% market share in the urban music and entertainment category in Kenya.
TRACE Mziki's new products include Trace Radio 95.3 FM, Trace Gospel, and Trace Play, in addition to its established TRACE Mziki, which controls about 66% of the market in the Kenya music TV category.
The company plans to launch the Trace Academia portal, providing free access to educative and creative content online, aimed at 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, emphasized the importance of establishing roots with locals in Africa.
