Mavin Records : the success story redefining the rules of Africa’s Creative Industries
In a powerful opinion piece, entrepreneur and investor Marie Lora-Mungai reflects on the transformation of Mavin Records, the Nigerian label founded by Don Jazzy. With the strategic support of Kupanda Capital, Mavin has become a growth model for African cultural enterprises — a story of partnership, data, and global vision.
ByMarie Lora-Mungai*
Africa’s biggest creative exit began with one phone call.
In 2017, legendary Nigerian music producer Don Jazzy had a successful record label.
But he knew something was missing.
While Afrobeats was exploding globally, African labels were still operating like it was 2005 – no data analytics, no proper structure, no international distribution deals.
Then came an unexpected call from Kupanda Capital, not your regular investor but a business-building platform focused on emerging markets.
🎯 Kupanda told Don Jazzy: « We see Afrobeats going global. Let’s rebuild Mavin Records from the ground up to capture that opportunity. »
What happened next became the blueprint for scaling African creative businesses internationally.
The transformation was radical:
Kupanda moved two senior executives to Lagos to work alongside Don Jazzy’s team (poke Mavin COO Peter Tega Oghenejobo).
Together, they didn’t just add capital – they rebuilt everything:
🎤 An artist development academy: Training talent for the digital age
📊 Data-driven A&R: Using analytics to predict hits before they happen
🌍 A global distribution network: International contracts from day one
🏢 A proper corporate structure: a 70-person team with defined roles and responsibilities
Only THEN did Kupanda bring in TPG to invest $10M+ in Mavin.
Then came the proof of concept…
🚀 Rema’s « Calm Down » (featuring Selena Gomez) became the first song by an African artist to hit 1 billion Spotify streams.
The numbers tell the rest of the story:
– 60x growth in overall revenue over 5 years
– 100x growth in digital revenue
🔥 In 2024, Universal Music Group acquired a majority stake in Mavin at a $150-200M valuation, in the largest deal in African Creative Industries history.
When I said that Mavin’s success had become the blueprint for scaling creative ventures in Africa, this is why:
1️⃣ Partnership beats pure capital. Creative companies often need a lot more than just cash. Operational expertise + local creative knowledge = magic
2️⃣ Structure unlocks creativity. You can’t grow on shaky foundations. Proper systems amplify business AND artistic potential.
3️⃣ Bet on data not gut feelings. Creative companies are yet to fully adopt digital tools, and that’s stifling their growth. Mavin shows how analytics can enable global success.
Few investors are ready to be as hands-on as Kupanda, and few founders can be as collaborative as Don Jazzy and his team.
EVEN THOUGH WE KNOW IT WORKS.
Think about that.
Mavin Records is one of the 12 African companies profiled in my latest study for Proparco’s CREA Fund. Read the full case study here: https://lnkd.in/diAwWrXe
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*Marie Lora-Mungai is an advisor, investor, and entrepreneur specializing in Africa’s creative industries and sports business.
