Nigeria’s MR. Eazi talks music, investing in African start-ups

Nigerian music sensation Oluwatosin Ajibade, popularly known as Mr. Eazi, has been making waves in Rwanda for over three weeks as he delves into investment opportunities. In an exclusive interview with CNBC Africa, Mr. Eazi shared insights on the importance of turning music into a profitable enterprise and the significance of creatives diversifying their investment portfolios. With a keen eye on bridging the finance gap that plagues many African entrepreneurs, Mr. Eazi opened up about his personal journey in the business world and his latest venture, Zagadad Kapital. The talented artist emphasized the challenges African creatives face when seeking traditional financial support. Lending institutions and venture capitalists often overlook budding talents, causing them to struggle in obtaining crucial funding. Mr. Eazi highlighted the need for a shift in perception regarding the profitability of creative ventures, stressing that music, art, and entertainment should be viewed as viable businesses with enormous potential for growth. Key Points: 1. Success in Music Business: Mr. Eazi's strategic approach to reinvesting 90% of his revenues has led to remarkable growth in his music business. From securing a 10,000 pound loan to generating seven-figure revenues annually, the artist's journey exemplifies the lucrative nature of the industry. Beyond music sales, Mr. Eazi has tapped into ancillary revenue streams such as shows and endorsement deals, further solidifying his position as a successful entrepreneur. 2. Zagadad Kapital: Investing in African Start-ups Motivated by a desire to empower young African entrepreneurs, Mr. Eazi founded Zagadad Kapital in December, offering a platform for creatives and innovators to access much-needed funding. The collective, comprising like-minded individuals with liquidity, focuses on providing financial support to start-ups in various sectors, including online gaming, FinTech, and music technology. With a minimum check size of $20,000, Zagadad Kapital aims to not only invest in promising ventures but also offer mentorship and resources for scalability. 3. Expansion into Rwanda and Beyond Impressed by Rwanda's conducive business environment and supportive regulations, Mr. Eazi envisions expanding his operations across the continent from his base in KIFC. By leveraging the vibrant entrepreneurial spirit in Rwanda and beyond, the artist turned investor aims to propel African start-ups to new heights of success. His commitment to fostering innovation and economic growth within the region underscores his dedication to reshaping the investment landscape. In conclusion, Mr. Eazi's foray into the realm of venture capitalism symbolizes a new chapter in his career, one marked by a steadfast commitment to empowering the next generation of African entrepreneurs. By championing creativity, innovation, and financial inclusion, the music mogul is not only transforming the business landscape but also inspiring a new wave of investment in Africa's burgeoning start-up scene.