The fund will be shared between two film and TV ventures under KAG-owned companies, and distributed through the state-owned Spanish Society for Technological Transformation (SETT).
By Adedamola Jones Adedayo
South African media conglomerate Known Associates Group (KAG) has expanded into Spain, backed by €12.7m funding from the Spanish government.
The fund will be shared between two film and TV ventures under KAG-owned companies, and distributed through the state-owned Spanish Society for Technological Transformation (SETT).
One of the ventures, Moonlighting Studios, based in Madrid, is the Spanish subsidiary of South African production outfit Moonlighting Films, with credits on Mad Max: Fury Road (2015), The Woman King (2022) and Mission: Impossible – The Final Reckoning (2025) and the forthcoming Children of Blood and Bone. Moonlighting is also a frequent collaborator of Netflix and Prime Video in South Africa.
This development will open the door to co-productions, with Moonlighting Studios Spain also looking to create a first slate of at least 10 features and documentaries.
Moonlighting Studios Spain will receive €8.8m from SETT, which is part of an expected total capital of €18m. The production company will get private South African investment through Sinobukoshi Investments, a company specialising in technology, resources, and commercial intellectual property.
The second KAG-owned venture, The Refinery, is a leading South African visual effects and post-production company. The company is set to open a new Spanish division, with SETT holding a 49% stake for a €3.9m investment. The new division will further create two studios, based in the Canary Islands and Bilbao respectively. Under the arrangement, Sinobukoshi will own a 15% stake in the refinery’s newly established Spanish subsidiary, while KAG will hold a 36% interest.
KAG was founded in 2014 by CEO Tshepiso Chikapa-Phiri, with its current leadership being held alongside producer and group chairman Joel Chikapa-Phiri.
Reacting to the expansion, CEO of KAG Chikapa-Phiri said: “As part of our business strategy, we are looking at an expansion into Europe. When I look at Spain and compare it to South Africa, I see that we could have been on the same trajectory had our government maintained our growth momentum. Unfortunately, because of the stalling of the film and TV incentive, that has made South Africa fall behind.”
The CEO further stated that with or without the incentive, plans for expansion were already in place. The company is also expected to announce a studio venture in Malta soon and is exploring opportunities to establish a presence in North America, Latin America, and the UK.