News
MePlaylistTM Secures Investment from Mathew Knowles, Other Global Investors
MePlaylistTM, an African solution to music consumption and promotion has earned the attention of global investors and partners like Mr Mathew Knowles, father of artists Beyoncé and Solange Knowles.
Mr Knowles believes MePlaylistTM offers music consumers in Africa a unique experience that is much more simplified for a continent where internet penetration and the use of smartphones is projected to experience significant growth.
“MePlaylistTM is Africa’s own answer to the popular music streaming platforms, but it takes streaming a step further by personalizing the experience for each consumer based on their consumption patterns and the technology available to them.
This and the population of Africans both on the continent and in the diaspora is why I am proud to have invested in MePlaylistTM”, he said in a statement.
With increasing mobile phone usage in Africa and the global prominence of African acts like Diamond Platinumz, Davido, Tiwa, Wizkid, Yemi Alade and Burna Boy, convenient and reliable platforms with expansive catalogues of streamable are far from the norm on the continent.
Many streaming platforms prioritize commercialization efforts in high-income countries and pay less attention to low and middle-income countries. This has created a gap between Africa’s rich musical contents and the need to reach fans through channels that make monetization and exchange of value easier and convenient.
It is solving this challenge that birthed MePlaylistTM; a music streaming platform that presents music content to users in an intuitive and data-friendly fashion, projecting African acts to the world and vice versa.
The platform comes with a unique administrative royalty distribution, multiple plan types and subscription currencies, high-quality audio, plus DDEX standards for ingesting and reporting usage. These amongst others have attracted global music stakeholders to the platform, hence making it possible to partner with music distributors globally.
According to a year-end report from the RIAA, revenues from streaming services grew nearly 20% in 2019 to $8.8 billion, accounting for 79.5% of all recorded music revenues, which means the streaming music services’ share of total music revenues is bigger than ever.
With the global music industry now worth about $19.1 billion, the African market is still largely untapped with its 1 billion-plus mostly young population and still accounts for a mere 2% of the global recorded-music sector and less than 1% of the royalties collected.
Unfortunately for music consumers in Africa, many of whom fall between the ages of 17 and 22, streaming services though ubiquitous, are not without their challenges.
Consumers have over time complained about the high cost of subscribing to some platforms, the unresponsive and unexciting user interfaces and catalogues not as exhaustive as consumers would love. This has presented a challenge for content creators in Africa to earn suitable revenue from their work.
MePlaylistTM is a 100% African solution to music consumption and promotion. The company which was founded by Olakunle Oladehin, a seasoned entertainment industry insider, is poised to revitalize the streaming market by providing a music consumption and promotion service that will make music consumers enjoy their listening experience on an optimized app without breaking the bank or running out of options. MePlaylistTM users will also be able to curate their own playlists and get followers to enjoy new music from all over the world.
According to Olakunle, “our focus is to put our users and their music consumption habits first; our platform has been designed with the understanding that people are mobile and constantly in need of new content, so from our interface to our catalogue options, we are making the MePlaylistTM experience the best in the market”.
Olakunle further emphasised the increasing importance of user-generated content (UGC) to give more visibility to music that matters. In his words “MePlaylistTM has been designed to be an intelligent music App that applies artificial intelligence to give each user a unique experience.”
His words are echoed by Ayodeji Oyenekan the Head of Technical Innovation at MePlaylistTM who says the MePlaylistTM app has been built to make expanding the catalogue on offer and other features as seamless as possible.
“Because of the innovative app we have built, MePlaylistTM will offer artists, aggregators and other content owners the opportunity to better monetize their content and reach a wider audience.”
Mr Knowles’ Music World Entertainment Corporation is joining other global industry majors who have invested in Nigeria’s rapidly growing music industry.
Mr Michael Kay Kiladejo, Managing Partner of Music World International, and CEO of Track Record Entertainment LTD, UK, expressed optimism in the African music landscape and cited reasons for investing in MePlaylistTM. In his words “We are very confident in the technical capabilities and expansion strategies for MePlaylistTM to deliver world-class service to music lovers in Africa and beyond.
To this end, it is a timely move to be able to facilitate the availability of the iconic Music World catalogue on the MePlaylist platform, and simultaneously take advantage of access to the dynamic new market it offers to artists on the Track Record Entertainment label.”
MePlaylistTM Founder Olakunle Oladehin believes that everyone will find their favourite kind of music on the app and anticipates that pre-launch subscription figures will shoot up significantly in the coming days as more Nigerians experience the seamless features of the MePlaylistTM app. “Whether you are looking for the next Wizkid, Burna Boy or Tiwa Savage song or your taste is more Obesere and King Sunny Ade, we have something for you on an app that makes the music more interesting for you”.
Legal and Transaction advisory services for the MePlaylistTM project was provided by leading Entertainment Law Firm in Nigeria, RBMM Solicitors. According to Demilade Olaosun, the Lead Solicitor at the Firm, it was a privilege working with the MePlaylistTM Management Team to iron out critical equity acquisition terms between the Company and Mr Mathew Knowles and his team.
Olaosun strongly believes the African Entertainment industry stands to gain a lot from this strategic collaboration and he is excited about the prospects of MePlaylistTM in shaping music consumption in Africa and across the world.
Federal government has launched GovGuideNigeria, an artificial intelligence (AI)-powered digital platform designed to streamline access to public service information through WhatsApp and the web.
The platform consolidates information from more than 35 federal ministries and over 60 government agencies, marking a significant step in Nigeria’s drive to expand AI-enabled public infrastructure and digital government services.
According to Bosun Tijani, Nigeria’s minister of communications, innovation and digital economy, the initiative aims to simplify interactions with government services, particularly for underserved communities that often face challenges navigating complex public-sector systems.
Developed in collaboration with the National Centre for Artificial Intelligence and Robotics, Meta, and Publica AI, GovGuideNigeria uses conversational AI to provide real-time responses via WhatsApp and a web interface in English, Hausa, Igbo and Yoruba.
Sade Dada, head of public policy at Meta, said the multilingual rollout highlights the growing use of natural language processing within African public institutions to improve digital inclusion and broaden access to services.
Ignatius Willie, chief executive of Publica AI, said the platform demonstrates how Africa’s next generation of digital public infrastructure can be developed locally using African languages.
GovGuideNigeria is intended to address longstanding challenges in Nigeria’s public information system, where citizens often struggle to access reliable guidance because of fragmented government websites, poor communication channels and the expense of travelling to physical offices.
Through AI-driven automation, users can obtain information on immigration procedures, documentation requirements, public programmes and agency-specific services through chat-based interactions.
The launch also reflects Nigeria’s broader ambition to integrate AI into digital governance, while strengthening partnerships between government agencies, global technology companies and local AI startups to modernise public service delivery.
Elon Musk is poised to become the world’s first trillionaire after SpaceX, his company, confirmed plans to go public.
Elon Musk
Because Musk owns the majority of the shares, it could push his net worth over the trillion dollar mark.
The entrepreneur is known for his leadership of Tesla, SpaceX, X, and xAI.
Musk has been the wealthiest person in the world since 2025; as of May 2026, Forbes estimates his net worth to be $788 billion.
SpaceX has filed for a blockbuster public listing in the United States, paving the way for what could become the largest stock market debut in Wall Street history.
The company, formally known as Space Exploration Technologies, announced plans to begin trading under the ticker symbol “SPCX” as early as next month.
The listing values SpaceX at about $1.25 trillion, with Musk’s majority ownership potentially worth more than $600 billion alone.
Combined with his existing holdings in companies including Tesla, the IPO could push Musk’s personal wealth above the $1 trillion mark.
The long-awaited filing also offered investors a rare look into SpaceX’s finances.
The company reported $18.6 billion in revenue last year but recorded a net loss of $4.9 billion. In the first quarter of this year, SpaceX generated $4.7 billion in sales while posting a $4.3 billion net loss.
Financial disclosures showed the company holds $102 billion in assets, including rockets, launch infrastructure and satellite systems, while carrying debts totalling $60.5 billion.
Despite the losses, analysts suggested investors were unlikely to be deterred given SpaceX’s dominance in commercial space launches and satellite internet services.
Ruth Foxe-Blader, managing partner at Citrine Venture Partners, described the planned flotation as “extremely exciting.”
“SpaceX is just an absolutely sprawling, enormous project with so many different selling points, and so many points that really point to the future,” she said.
SpaceX operates the Starlink satellite internet network and also owns Musk’s artificial intelligence company, xAI.
The IPO filing revealed that xAI recently reached a major commercial agreement with rival AI company Anthropic, maker of the Claude chatbot.
Under the arrangement, Anthropic will reportedly pay $15 billion annually to access data centre infrastructure linked to xAI operations in the American South.
The filing also disclosed that SpaceX expects to incur more than half a billion dollars in legal costs from multiple ongoing lawsuits and regulatory disputes.
Among the cases listed were claims alleging that xAI’s chatbot Grok had been used to create sexualised deepfakes of women and girls, alongside patent infringement disputes, music copyright claims, data breach allegations and investigations into compliance with European Union content moderation rules.
Musk has previously said he plans to dissolve xAI as a standalone company and pursue his AI ambitions directly under SpaceX.
The filing came shortly after Musk lost a high-profile legal battle against OpenAI and its chief executive Sam Altman.
Musk had accused OpenAI of abandoning its non-profit mission after shifting towards a commercial model, but a jury dismissed the lawsuit, ruling that he had waited too long to bring the claims.
African financial services platform Moniepoint has partnered with open banking software-as-a-service provider tell.money to deploy a transaction security system in the UK market.
The companies said the partnership will allow Moniepoint to implement Confirmation of Payee, an account name-checking service designed to verify recipient details before payments are processed.
The integration will be rolled out through Monieworld, Moniepoint’s UK remittance subsidiary, as part of the company’s broader European expansion strategy.
Tell.money will provide the underlying verification technology, which the companies said is intended to reduce misdirected payments and help protect users against cross-border fraud.
Ravi Jakhodia, CEO of Monieworld, said: “Our goal with Monieworld is to build financial services for Africans in the diaspora.”
He added that tell.money was selected because it manages compliance and accreditation requirements, allowing the fintech company to focus on customer service.
Moniepoint is entering a competitive UK-to-Africa remittance market that includes established providers such as Wise, WorldRemit and Remitly, as well as African fintech firms including Flutterwave’s Send App.
According to data from the World Bank’s KNOMAD programme, remittance flows to low- and middle-income countries are estimated at about $620 billion annually, with digital -first platforms capturing increasing market share through open banking integrations and automated compliance systems.
The rollout reflects a broader trend of African fintech firms expanding into developed markets by adopting local regulatory and open banking standards.
Industry analysts expect diaspora-focused platforms to evolve beyond money transfers into services such as multi-currency banking, credit and investment products.
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