Black business banks on Mobile TV
Black business body the National African Federated Chamber of Commerce and Industry (Nafcoc) has made its maiden investment in cutting edge media technology by purchasing a 20% stake in Mobile TV.
Said Dr Mothobi Mutloatse, founder and chairperson of Mobile TV: “The Nafcoc investment is a major step, as it represents the first time that an organised black business grouping has invested in cutting edge technology in the media sector.
“This investment is likely to have a major impact on ownership, control and management demographics in South Africa.”
Lawrence Mavundla, chairperson of the newly created investment arm of Nafcoc, said: “The new technology that Mobile TV brings into the broadcast sector will deal with the issue of lack of access to information and entertainment in the rural and deep rural areas.
“If one considers the investment required to purchase a set-top box to decode encrypted television signal, it makes complete sense to circumvent the cost and go directly to the mobile technology that is available.”
Mavundla will gain a seat on the Mobile TV board as a result of the stake that Nafcoc has taken up.
“The business opportunities are endless and the investment decision wasn’t a hard one to make,” said Mavundla.
He explained that the Korean technology that was chosen, Digital Multimedia Broadcasting, is not only ubiquitous but is far ahead of anything currently available in SA, specifically in terms of its innovative interactive services.
After 15 months of testing and a temporary licence to refine the technology, Mobile TV is ready for the next round, which includes raising capital and applying for a permanent broadcast licence.
Turning to the content, Mutloatse said: “We will have a combination of aggregated content as well as introducing new channel streams under the brand TVG4U, incorporating the innovation referred to as GOV4U, a first in SA broadcasting.”