Nigerian Afrobeats star and entrepreneur Mr Eazi last week announced that he would like to invest in Rwanda’s creative, gaming and e-payments sectors. The musician revealed the news in a meeting with the Rwanda Development Board (RDB) to discuss potential areas of investment across the three sectors. RDB is the government agency that promotes investment and tourism in the country.
“Mr Eazi is looking to invest in Rwanda,” RBD head of marketing Lucky Phillip said. “He is particularly interested in Rwanda’s creative industry, gaming sector and e-payments. He basically wanted to understand the investment opportunities in the three areas and the incentives that can benefit his business in Rwanda.”
The ‘Lento’ hitmaker was also in Rwanda to attend the launch of the Basketball Africa League (BAL) competition on 16 May, which will conclude on 30 May.
In 2008, the Government of Rwanda introduced new business regulatory reforms, which have reduced bureaucratic barriers and created a more conducive environment for domestic and foreign investors. The country has made several partnerships that seek to enhance the county’s creative and gaming sectors. In September 2020, local start-up DopeApps partnered with Suponic Global, an American creative technology firm, to create a profitable eSports industry that connects gamers worldwide through blockchain technology.
The investment will add to Mr Eazi’s growing portfolio of music investments on the continent. In 2018, he launched emPawa Africa, an incubator programme that provides artists with funding and resources to market their music, access radio and TV airplay, and learn how to become successful entrepreneurs. Last year, he unveiled the Africa Music Fund (AMF), a new funding model for the music business on the continent worth $20 million to provide financial support for artists to expand their catalogue.