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Netflix Inc (NASDAQ: NFLX) is aiming to boost its presence in Africa with the appointment of Zimbabwean billionaire Strive Masiyiwa to its board.
What Happened: Masiyiwa has become the first African to join Netflix’s board. The company also has two European directors.
The newly-appointed executive has connections and experience in Africa as the founder and chairman of Econet Global, a company that offers telecommunications and mobile payments services, according to Bloomberg.
In Africa, Netflix has a couple of million customers, even though the continent has a population of more than a billion, according to Digital TV Research.
Netflix Chairman and Co-Chief Executive Officer Reed Hastings said in a statement that Masiyiwa s entrepreneurship and vision in building businesses across Africa and beyond will bring valuable insights and experience to our board as we work to improve and serve more members all around the world.”
Rodger Bosch / AFP
Netflix appointed Zimbabwean billionaire Strive Masiyiwa to its board, adding its first African director as it looks to new markets for future growth.
Masiyiwa is the founder and executive chairperson of Econet Global, a telecommunications company that operates across Africa, Asia, Europe and Latin America. Econet offers phone, broadband and satellite service, and is also a major provider of mobile payments.
Masiyiwa brings a fresh set of connections and experience as the first African - and the third international media executive - to join Netflix’s board in recent years. The streaming giant already has two directors from Europe, which has been its fastest-growing region in recent years.