Banko to head Sony Music West Africa

Reporting to managing director Sean Watson, Lloyd will drive the catalogue strategy for Sony Music while continuing to build partnerships with labels and artists. Before the appointment, he was the president of Davido Music Worldwide, a record label owned by Nigerian musician Davido. 

"I am excited to join the SME team, and I am looking forward to diversifying the company's business interests in West Africa," Lloyd told Music Business Worldwide.

"Nigeria is one of the fastest evolving African markets, and we are ready to develop new exciting talent and cultivating exploitation opportunities with our digital partners in the region."

Watson expressed his confidence in Lloyd's ability to expand the company's business interests and woo investors. 

"We're excited about working with someone as integrated with the Nigerian music scene as Banko," he said. "His new focused role will enable him to hone in on key areas of our business, bringing fresh new talent to our label and building innovative business models with local and international partners."

Lloyd assumes the position after serving as the Sony Music West Africa's general manager from June 2019, two months before the exit of Michael Ugwu on 2 August.

Ugwu's legacy includes signing Africa's biggest talents including Davido, Wizkid and Nigerian rapper YCee whose song 'Juice' became the most-streamed track in Sony Music Africa's history.

Ugwu announced earlier this month that he would be moving on to concentrate on his start-up, Freeme Digital. Launched in 2013, the distribution service aims to ensure that artists and creators are heard and paid for their works, both locally and internationally.