Nigeria top music company, Mavin record has sign a Multimillion dollar deal with Kupanda Holdings to fillips other growing record label.
However, the actual fund invested in the deal was undisclosed but from all indication and from a closed source who reported the event to Stannova, a huge bags of dollars were invested.
Mavin Records was faced with heavy challanges from upcoming and competing music labels, who have dominated airwaves.
Reekado Banks terminating his deal and opening his new company – “Banks Music,” after serving the record for 5-years with numerous eccentric jams. This is one of the biggest endorsement Nigeria record label that could fillip Mavin once again on the apex point.
According to the official statement obtained by Stannova, Mavin Records intends to scale operations to meet the rapidly growing international demand for African music. The deal will afford the label an opportunity to increase its artists’ roster, and strengthen its services across A&R, touring, marketing, distribution, publishing, and partnerships.
The record which comes into existence in 2012 has been a platform for growth in the music industry and according to the CEO of the leading Nigeria record, Michael Collins Ajereh popularly known as Don Jazzy, the Aim is to grow Mavin Global into the music spotlight of Africa and diaspora.