Danish funds – music for African ears
Mdundo, which was launched in 2013 and is now based in Denmark, provides access to all the continent’s favourite music to over 5 million monthly active users in 15 countries in Sub-Saharan Africa, with over 20 million monthly downloads and streams via its website and app. The company’s main markets are Kenya, Tanzania, Uganda, Nigeria and Ghana, with an increasing focus on Zambia, Zimbabwe, Mozambique, Angola, Rwanda, Cameroon, Congo, Malawi, South Africa and Namibia. Last month Mdundo listed its shares on the Nasdaq First North Growth Market Denmark following an oversubscribed pre-sale period that raised US$6.4 million. By listing on Nasdaq First North and opening trading of its shares, Mdundo aims to secure additional funds for its ongoing expansion across new African markets and to confirm its brand as the pan-African leader in the music distribution market.
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