American celebrated rapper Shawn Corey Carter has revealed he will be investing in Africa precisely Uganda and Nigeria.
This has come as a shocker since the rapper has happens to be the few who have snubbed Kenya considerin g that alot of investors recently have been considerin gf Kenya as one of the major countries to invest in Africa.
It has been reported that Jay z is seeking to expand his music empire in Africa.
The 48-year-old artiste, whose net worth stands at $900 million (Sh90 billion) according to Forbes, expanded his Tidal Music Company business, opening the second branch in Africa in the capital of Uganda, Kampala.
According to Tidal bosses quoted by Billboard, the two countries were chosen as launch pads because of their youthful population.
Approximately 78% of Uganda’s population is below the age of 30 years, same as Nigeria with an approximate of 83% thus making them ideal target market for Tidal services.
Tidal, a US based music streaming service founded by Jay Z, commenced its business in Kampala a few days ago after an official launch.
The launch was done in partnership with Uganda’s largest telecom company MTN which will give it access to its over 10.5 million subscribers.
Tidal will also host Ugandans’ local music on its service in addition to its already vast catalogue.
The company is planning a similar roll out to Nigeria.
During his retirement, Jay-Z also became involved in philanthropic activity. In 2003, Jay-Z, together with his mother, founded The Shawn Carter Foundation, which has assisted eligible students facing socio-economic hardships through college On August 9, 2006, he met with United Nations Secretary General Kofi Annan at the organization’s headquarters in New York City.
The rapper pledged to use his upcoming world tour to raise awareness of and combat global water shortage. Already on the look-out for a way to, in his own words, “become helpful”, he had been made aware of this issue during a visit to Africa by Bono from the rock group U2 The effort took place in partnership with the UN, as well as MTV, which produced a documentary entitled Diary of Jay-Z: Water for Life, first airing in November 2006. Along with Sean “Diddy” Combs, Jay-Z pledged $1 million to the American Red Cross’ relief effort after Hurricane Katrina. Jay-Z stated his support for Kanye West after the latter’s outburst against President Bush during a live Katrina charity telethon.
He also addressed the issue of the Katrina disaster, and the government’s response, in his one verse song “Minority Report”.
Jay-Z has previously stated in a song that “the greatest form of giving is anonymous to anonymous” and, in 2013, it was revealed by author dream hampton, who co-wrote Jay-Z’s book Decoded, that he quietly established a trust fund for Sean Bell’s children.