MAM
Imax expands partnership with Africa’s largest exhibitor
MUMBAI: Imax Corporation and Ster-Kinekor Theatres, a division of Primedia, have inked an agreement for two additional Imax theatres.
The first Imax theatre will be added to the exhibitor’s upcoming multiplex at the Baywest Mall in Port Elizabeth, with a second to be added to an existing multiplex at the Cradlestone Mall in Johannesburg. The deal brings Ster-Kinekor’s Imax footprint to six theatres with three currently open in Durban, Pretoria and Cape Town and another slated to open in Johannesburg.
“It is our aim to pioneer the advancement of cinema across South Africa as well as Africa, to ensure that consumers get to experience movies the way they were meant to be. Imax is a key enabler of this strategy and we’re delighted to expand our relationship, which is directly related to our complexes’ incremental box office as a result of Imax,” said Ster-Kinekor marketing executive Doug Place.
“In just 15 months, Ster-Kinekor opened its first Imax theatre and, building on its success, has since gone on to expand its Imax commitment to six theatres in the very important South African market. As the industry leader in Africa, with a presence in five countries, Ster-Kinekor is actively growing its network as evidenced by its new build in Port Elizabeth. As an extraordinary operator and Imax brand ambassador, Ster-Kinekor is the perfect partner to help us grow our business in Africa,” added Imax EMEA president Andrew Cripps.
Brands
Ujjwal Jain steps down from PhonePe’s Share.Market to start new chapter
Founder behind WealthDesk and OpenQ exits after decade-long fintech journey
BENGALURU: Ujjwal Jain, the entrepreneur behind platforms such as WealthDesk and OpenQ, has stepped down from his role as chief executive of Share.Market, the investing platform backed by PhonePe, marking the end of a decade-long journey in India’s capital markets space.
In a reflective note, Jain described his journey from launching WealthDesk in 2016 to building a broader ecosystem that eventually became part of PhonePe. Over the years, his ventures focused on bringing data-driven investing tools and model portfolios closer to retail investors, a space that has seen rapid evolution alongside the rise of discount broking.
WealthDesk introduced curated “WealthBaskets” to simplify portfolio investing, while OpenQ expanded access to quantitative research and analytics. Both platforms were later acquired by PhonePe, forming the backbone of Share.Market, which Jain helped scale as a mass-market investing product.
Calling the experience “brutal” yet deeply fulfilling, Jain credited colleagues, investors and industry partners for shaping the journey, highlighting the role of the PhonePe team in building Share.Market into a large-scale platform.
His exit comes at a time when artificial intelligence is beginning to reshape financial services globally. Jain indicated that his next move will focus on this shift, hinting at a renewed push into the intersection of AI and capital markets.
Prior to his entrepreneurial stint, Jain worked with MSCI Inc. on index products and technology, and with D. E. Shaw India Financial Services in algorithmic trading and high-frequency systems.
While he has not disclosed specifics of his next venture, Jain framed the move not as a departure but a reset, signalling that his next chapter will aim to tackle even larger challenges in India’s evolving investment landscape.
With one chapter closed and another underway, the focus now shifts to what Jain builds next in an increasingly AI-first financial world.
