Thursday, 5 October 2017

My CREAM platform is not a scam- D’banj

Nigerian singer-songwriter, Oladapo Oyebanjo, better known as D’banj is sure of the most successful musician whose contributions from the beginning of his career has further shaped the entertainment industry since the release of his debut album in 2005 ‘ No Long Thing’. The multiple-award winning artiste recently celebrated the first year anniversary of his CREAM platform. In this chat with MUTIAT ALLI, D’banj talks venturing into other business, music career and why CREAM platform is not a scam as speculated.
Why did you establish CREAM platform?
CREAM platform was established to harness genuine creative talents across the genres of entertainment, arts and entrepreneurship in all the states of Nigeria. The platform is not designed to sign the winners but market their content. To this end, we will collaborate with record labels to sign these talents. So, you can call CREAM the Google of African talents. I agreed to become an ambassador of Bank of Industry because they told me that they wanted to help structure and better monetise the creative industry. At the time, they did not understand how we (entertainers) ran our business. That was when I started Koko Garri and they gave us a loan of N50 million to start CREAM platform. And we were able to pay them back in six months and this was possible because in three months we had over three million subscribers. It really surpassed my expectations.
Two months ago on your Instagram page you announced that your CREAM platform is worth $130 million. Do you still stand by that figure?

BEVERLY HILLS, CA – APRIL 07: Musician D’banj performs at the Launch Party and fashion show for designer Chris Aire’s “Hollywood Glamour Collection” at the Beverly Hills Hotel on April 7, 2010 in Beverly Hills, California. (Photo by Frazer Harrison/Getty Images) *** Local Caption *** D’banj

To answer your question the platform was valued by KPMG nine months into the launch for 130 million dollars. Honestly I was surprised, since this is a platform, which we just launched, and an idea that God gave us with a wonderful team we put together. For it to be valued over 1 million dollars is a wonderful thing and to answer your question, has it changed? I think it has. We have had so much potential and investments and all and even expansion into other countries and offers are coming. I believe next time we sit here and talk about valuation I think the platform will be worth much more.
Tell us more about your interests in agriculture?
We launched the agriculture project in 2014 and this opened my eyes to a lot of possibilities in this sector. I am proud to tell you that I opened my own Koko Garri processing plant where we can process cassava into Garri in Sagamu last year. We are also trying to expand and I am happy with that my investment in agriculture has been on autopilot. Koko Garri is here to stay and when we want to expand we will be able to meet up with the demands of the public. Going into business and focusing on the showbiz angle of my career at the time I did, has been my greatest decision. My best career decision was not my decision directly. We all know the details so I don’t want to mention names but I know that everyone understands who or what I’m referring to.
Don’t you think that channelling so much time, effort and money on the CREAM platform may affect your music career negatively?

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