TPG Growth portfolio company acquires South Africa's Okuhle Media

African music and entertainment company Trace has acquired a majority stake in Okuhle Media, a leading player in the production of audiovisual content for South Africa, Africa and global markets. Trace is majority-owned by TPG Growth, a platform of global investment firm TPG. TPG Growth invested in Trace in 2018, alongside Evolution Media and Satya Capital.

Founded in 2003 by five producers, Okuhle Media is headquartered in Cape Town and employs 78 staff.

Okuhle Media develops, produces and licenses programmes and formats for commercial and public TV channels and for streaming platforms in South Africa, Africa, Europe and the rest of the world.

For Trace, Okuhle Media constitutes a high-potential asset that will enhance its audiovisual production expertise and that will complement its existing Trace Studios assets.

“The acquisition of Okuhle Media brings new opportunities for Trace. We look forward to developing them with the Okuhle Media team, made of great professionals, passionate about building a world-class creative and production house with distinct African roots and narrative. Okuhle Media fits perfectly into our strategy to make Trace a global leader for entertainment and empowerment of our people,” said Olivier Laouchez, chairman and CEO of Trace.

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