For many, Oluwatosin Ajibade is the musical trailblazer known as Mr. Eazi, the artist who pioneered the Afro-fusion sound called “Banku Music.” But as Africa’s richest man, Aliko Dangote, recently observed, the entertainer is only half the story. At Mr. Eazi’s wedding, Dangote famously called him a “part-time musician and full-time entrepreneur,” an observation that encapsulates the artist’s strategic, decades-long journey to build a formidable business empire.
Dangote’s words were not a slight but a rare compliment, recognizing a kindred spirit who views fame not as an end but as a powerful tool for building wealth and impact. For Mr. Eazi, his music career served as the high-profile launchpad for a much larger portfolio of business ventures spanning music, technology, and real estate.
The musician as a business incubator
Mr. Eazi’s business acumen was evident long before his musical stardom. His first enterprise was a college side hustle in Ghana, a party and promotion company called Swagger Entertainment. This early venture laid the groundwork for his later strategic moves in the music industry.
Rather than just selling records, he built an ecosystem around his talent. The creation of his record label, Banku Music, was focused on developing his signature sound. This was followed by the launch of emPawa Africa, a revolutionary talent incubation initiative. emPawa provides grants, mentorship, and support to other African artists, most notably nurturing talents like Joeboy and Fave. It transformed Mr. Eazi from an artist into a kingmaker, earning a percentage of the careers he helped build.
This vision expanded with the African Music Fund, a $20 million investment vehicle launched in partnership with emPawa in 2020. It proved that Mr. Eazi’s mission was never just about making music but about investing in the infrastructure of the entire African music industry.
The Tech investor
Beyond music, Mr. Eazi’s entrepreneurial instincts led him to technology and finance, a field where his investments have yielded significant returns. In 2022, he launched his investment fund, Zagadat Capital, backing African-founded companies. The fund’s portfolio is diverse, including fintech and lifestyle brands.
A standout investment was in the American music distribution platform, Vydia. When the company was acquired for $1 billion in 2023, Zagadat Capital secured a massive return, validating Mr. Eazi’s investment strategy. Other notable tech ventures include:
- PawaPay: A mobile payments company co-founded in 2021 that processes over $1 billion in transactions across the African market.
- BetPawa: An online betting company where Mr. Eazi serves as a key investor and CEO, operating in multiple countries.
- Eden Life: A Lagos-based food delivery and lifestyle startup.
Diversification and long-term vision
Mr. Eazi’s empire is not confined to the digital world. His investments in real estate, including a housing estate in Rwanda, demonstrate a classic long-term wealth-building strategy. He has also ventured into the sports world with a stake in the South African basketball team, Cape Town Tigers. His diverse holdings reflect a strategic mindset focused on multiple revenue streams.
The evolution of Mr. Eazi is a masterclass in leveraging a personal brand for larger financial ambitions. He has effectively used his public-facing career to fuel his behind-the-scenes investments, building a legacy that extends far beyond the charts. Dangote’s praise confirms what many in the business world have long recognized: Mr. Eazi is an entrepreneur who simply happens to make hit records. His story shows that for those with the right mix of talent and business savvy, the mic and the boardroom are not mutually exclusive.
