Money Moves June 12, 2018 at 12:00 pm

5 African millionaires working hard to hit the billion-dollar mark

Mildred Europa Taylor | Head of Content

Mildred Europa Taylor June 12, 2018 at 12:00 pm

June 12, 2018 at 12:00 pm | Money Moves

Jason Chukwuma Njoku

Jason Chukwuma Njoku

The 37-year-old Nigerian entrepreneur is the CEO and founder of Iroko Partners, the largest distributor of Nigerian music and movies online.

After a number of failed enterprises between 2005 and 2010, which included a blog network, a T-shirt business and a web design company, Njoku founded iROKO in 2010 with his friend Bastian Gotter at an investment cost of $150,000.

The following year, the group received $8 million from Tiger Global as venture capital, which enabled it to launch its stand-alone video-on-demand platform iROKOtv on December 1, 2011.

The site drew viewers from 178 countries and generated an annual revenue of $1.3 million in the same year.

iROKOtv has since then had productive deals with Vimeo, Amazon, iTunes and Dailymotion. Njoku’s net worth, as of 2012, was $30 million.

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