Mobile TV gets black business backing
Black business body, the National African Federated Chamber of Commerce and Industry (Nafcoc), has bought a 20% stake in Mobile TV as part of its investment in mobile broadcasting technology.
Nafcoc’s investment represents the first time an organised black business group has invested in technology in the media sector, Nafcoc says.
Lawrence Mavundla, chairperson of Nafcoc’s investment arm, will take up a seat on Mobile TV’s board as a result of the investment, stating that the “business possibiities are endless.”
Korean Digital Multimedia Broadcasting technology was chosen for the venture, with Mavundla describing the technology as “far ahead of anything currently available in SA, specifically in terms of its innovative interactive services.”
“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,” Mavundla said.
“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.”
Mobile TV will spend 15 months testing and refining the technology via a temporary licence, after which it will initiate the next step of the process, namely rasing capital and applying for a permanent broadcast license.
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