Business

Don Jazzy sells Mavin Records majority stake to Universal Music  

Universal Music Group (UMG) has completed the acquisition of a majority stake in Mavin Global (Mavin), a distinguished music company headquartered in Lagos, Nigeria. 


Mavin Records label was founded in 2012 by Michael Collins Ajereh, popularly as Don Jazzy, Mavin has played a pivotal role in propelling Afrobeats artists to prominence, both within Africa and on the global stage. 


This strategic move by UMG comes about five years after Mavin secured a substantial multi-million dollar investment in 2019 from Kupanda Holdings, a joint venture between pan-African investment company Kupanda Capital and TPG Growth. With this latest development, TPG has divested entirely from the business, while Kupanda Capital will maintain a minority investment and continue as a strategic adviser.