Why Mr Eazi is investing in Rwanda

Indications have emerged why popular music star, Oluwatosin Ajibada, popularly known as Mr Eazi, chose Rwanda as the next investment destination for his businesses.

Eazi made the disclosure in a statement made available to newsmen on Thursday in Lagos.

According to him, Rwanda is fast turning into a preferred location for technology and innovation through a combination of visionary leadership and investment in infrastructure.

He said that the Rwandan Government had shown a high level of commitment to entrepreneurs and innovators.

“I am impressed by the processes in Rwanda and encouraged by the ease of doing business.

“The regulatory efficiency and support from the Rwanda Development Board, Ministry of Trade, Kigali International Finance Center, and other regulatory bodies has enabled us to kick off operations in the country in less than a year from the incorporation stage,” Eazi said.

The music star had invested in the fintech sector through PawaPay, a U.K.-based and Africa-focused payments company backed by his venture capital fund, Zagadat Capital.

“In August, Zagadat invested in PawaPay through its seed funding round.

“With 10 million transactions per week totaling 257.4 million transactions worth $1.2 billion, recorded in 2021, PawaPay is positioned as an industry leader in high volume mobile money payments on the continent.

“Pawapay, which previously launched in Zambia, Cameroon, Kenya, Tanzania, Uganda and Ghana, is now fully operational and live in Rwanda after fulfilling all regulatory requirements,” he said.

The statement noted that Eazi’s investment across the continent was setting the young entrepreneur on a path to changing the narrative and defining “The New Africa.”

The music icon also recently announced the official unveiling of his sports betting and gaming Franchise, BetPawa.

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