TRACE Launches East African hub
TRACE, a global urban music television and entertainment network has finalized the acquisition of a 70 percent stake in Qwetu Radio in a deal that commenced with talks in September 2018, now gives Trace a foothold in the highly competitive urban radio entertainment segment in Kenya.
Following the conclusion of the acquisition Trace has now set up its East African hub in Westlands in Nairobi that will be led by the Danny Mucira as the MD for the East Africa cluster.
Trace also launched today the newly branded Trace Radio 95.3 fm, a music only radio station. According to Olivier Laouchez, Co-Founder, Chairman and Chief Executive Officer of Trace worldwide, the company inherits Qwetu Radio’s estimated 4% market share in the urban music and entertainment category in Kenya.
“Our vision is to increase 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”. He said.
Speaking during the launch of the hub and Trace 95.3fm, Aline Kuster-Menager the France Ambassador to Kenya said Trace plans to invest locally in Africa with local staff and partners.
“Kenya is indeed a key priority country for TRACE in Africa and as the ambassador I am keen to further engage on how best to harness the creative and cultural industry between Kenya and France”, she said.
The new products, Trace Radio 95.3, Trace Gospel and Trace Play now join Trace Mziki which is already available in the East African region. Trace Mziki that controls about 66% market in the Kenya music tv category is currently available on DStv, Azam, Zuku and Startimes.
To add to the diversification of their content, they also are planning to launch Trace Academia which will be a free educative and creative online portal aimed at empowering youths to explore their gifts and potential in the creative arts sector with an entertainment dynamic that leverages