Grace Ashiru
StarNews Mobile, a leading mobile video network in Africa headquartered in Ivory Coast, recently secured $3 million in a funding round. Janngo Capital spearheaded this round, notably including investments from three French professional footballers. The athletes involved are Aurelien Tchouameni, Jules Kounde, and Mike Maignan from Excellence Sports Nation, who are associated with top clubs like Real Madrid, Barcelona, and AC Milan. With this latest funding, StarNews Mobile’s total raised capital has reached over $8 million.
Launched in July 2017, StarNews Mobile caters to a broad audience with its network of over 50 mobile channels. These channels provide content centered around celebrities and are accessible through affordable daily subscription fees.
StarNews Mobile, in partnership with MTN and Moov, was initially launched in the Ivory Coast. It has since broadened its reach to include Cameroon, the Republic of Congo, and South Africa.
Guy Kamgaing, CEO of StarNews Mobile, expressed that the recent funding is crucial for empowering more African creators. He emphasized the company’s strong presence in francophone Africa and its ambitious plans for expansion into key markets like Nigeria and Ghana. Kamgaing also highlighted the significance of support from Janngo, known for its success in nurturing African startups, and the endorsement from prominent young sports figures of African descent who recognize the global importance of African audiences and culture.
Africa’s burgeoning creative industry has the potential to experience a remarkable fourfold growth by the year 2050, generating a substantial GDP of up to US$20 billion and creating a staggering 20 million job opportunities. StarNews is at the forefront of driving this growth, empowering local African talent through a unique blend of scalable technology, locally sourced content, and strategic partnerships of the highest caliber. In an announcement by Fatoumata Bâ, the founder and executive chair of Janngo Capital, she expressed pride in leading a funding round to unlock further growth, make a significant impact, and expand into new markets.
For a mere US$0.10 per day, users can subscribe to their preferred celebrities’ channels through their service providers. Upon subscribing, customers receive an SMS containing an exclusive video link for daily viewing. After this, the subscription fee earnings are divided among the operator, the content supplier, and StarNews Mobile, ensuring a fair distribution of revenues.
