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Nigerian singer, Mr Eazi sells portfolio company, Vydia, for $1bn

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Nigerian Afro Beats singer, Oluwatosin Ajibade, popularly known as Mr Eazi, has, once again, shown his business acumen after he sold the portfolio company of his venture capital fund, Zagadat Capital, Vydia, for a reported $1 billion.

Mr Eazi who is also an established business mogul, announced on Thursday that Vydia, a digital audio and video distribution infrastructure company, was acquired by American firm, Gamma, for the princely sum.

Gamma, a music and technology firm owned by former Apple Music Executive, Larry Jackson, also confirmed the acquisition of Vydia, saying the deal “epitomises the vision of Gamma as an ideas company.”

The deal which is unarguably the biggest in the history of Afrobeats in Africa, has catapulted Mr Eazi into a consummate business mogul with hands in different lucrative business pies.

He is also the owner of music distribution platform emPawa which previously worked with artists like Fave, Joeboy, Darkavibes, and Bella Alubo.

Apart from making music, Mr Eazi is also a big time entrepreneur as he has backed several African-focused startups including PawaPay, an African mobile payments company, Talent City, an urban development startup, and Eden Life, a Lagos-based food delivery and lifestyle startup.

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Culture

Tyla set to drop new single ‘Tears’ on November 20

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South African “Ampiona” crooner, Tyla, is set to thrill her fans to her new single titled, “Tears’, which is set to drop on November 20.

According to a statement by her management team, Tyla’s fans should expect something different from the “Water” singer as she is set to release a brand-new single in collaboration with Coke Studio.

“This exciting partnership follows her announcement as part of the Coke Studio 2024 line-up alongside R&B star Usher Raymond in September,” the statement said.

Tyla who is fondly called the “Pretty girl from Joburg,” also took to her Instagram page to share the news with her fans.

Posting a snippet of the video on her Instagram story with the caption, “‘Tears’ coming November 20th! A song in partnership with @CocaCola”, confirming the November release date, she urged her fans to look forward to something different from what they are used to.

The brand has also shared on its social media platforms that Tyla will be performing this highly-anticipated single when she returns to Johannesburg, South Africa, at a special Coke Studio live event.

In an interview with Coke Studio, the 22-year-old singer shared how she breaks away from her original sound with “Tears”.

“I feel like in a lot of my songs, I’m dancing a lot. I really wanted a song where I could just sing, be more raw with people, and showcase my voice this time,” she said.

Snippets from the new single has showcases Tyla’s enchanting vocals, revealing a more vulnerable side that is different from her previous work.

“Breaking away from the amapiano and pop sound she’s best known for, Tyla embarks on an exciting new journey with this project,” one of the reviews said.

“Through “Tears”, she wants to connect with listeners in a raw, captivating way as she partners with Coke Studio to bring this new sound to life.’

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Moroccan court jails journalist 18 months over remarks about politician

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A Moroccan court on Monday sentenced a journalist, Hamid Mahdaoui, to 18 months in prison after he was found guilty of accusing a prominent politician of fraud, a verdict that has sparked international condemnation from press freedom advocates.

Mahdaoui’s case has garnered international criticism because he is being prosecuted under Morocco’s penal code rather than the press code governing journalistic conduct.

His attorney Mohamed Hedach, told journalists after the judgement that Mahdaoui who is the editor in chief of Badil.info, will serve a 1.5-year sentence and be fined an equivalent of $150,000 after being found guilty of defamation.

Mahdaoui was prosecuted after a complaint from Justice Minister Abdellatif Ouahbi following a video posted on his website accusing Ouahbi of corruption and fraud, both of which the justice minister denied.

The accusations, according to media reports, came after the royalist Party of Authenticity and Modernity, which Ouahbi headed, became enmeshed in controversy last year when an imprisoned Malian drug dealer implicated party members in a sprawling drug trafficking case that shook the North African kingdom.

Reporters Without Borders’ North Africa representative Khaled Drareni had in October, called the prosection of the journalist a “misuse of the justice system to intimidate and silence the press.”

Mahdaoui was imprisoned in 2017 after publicly throwing his support behind activists who led protests over social and economic inequities. He was also sentenced to three years for not reporting to authorities that a Dutch Moroccan man had told him arms were being sent to the protesters. He later said he didn’t report it because he didn’t take the information seriously.

Morocco has in recent years been criticized for imprisoning journalists and activists known for criticizing the government. King Mohammed VI pardoned and released the country’s three most prominent imprisoned journalists — Omar Radi, Taoufik Bouachrine and Soulaimane Raissouni — in July.

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