The long-running dispute over Diamond Platnumz’s ownership of Wasafi Media, which includes Wasafi FM and TV, has resurfaced.
The resurgence comes after his rival, Alikiba, launched a radio station dubbed Crown FM, last month.
Despite the emergence of the Fourth Industrial Revolution, which involves the transformation of traditional industries through digitalisation, automation, artificial intelligence, robotics, and other emerging technologies, and the near obsolescence of radio and television due to digital transformation, the two traditional media houses in Tanzania continue to demonstrate profitable operations.
So it’s easier to understand why the launch last year of Wasafi Media, Crown FM and Mjini FM, owned by Diamond’s manager Sallam S.K, has caused a lot of mixed reactions in Tanzanian showbiz.
Since the launch of the Wasafi Media empire in 2018, with Diamond being the first artist in Tanzania to venture into the lucrative radio and television business, there has been a lot of debate as to whether the crooner actually fully owns the empire as he has always stated or claimed.
A number of key players in Tanzania’s entertainment industry, including top media personalities such as Diva The Bawse, have in the past claimed that Diamond doesn’t own the Wasafi Media empire, but rather a proxy.
In several media interviews, the singer has always claimed to be the full owner of the media empire.
However, in a recent interview with Tanzanian media, when asked to share his thoughts on Alikiba’s latest radio investment, Diamond also came clean about the ownership of Wasafi Media, admitting that he isn’t the sole owner as he has suggested in the past.
“It’s good to see more artistes investing in media and I would urge more artistes who have the opportunity to do so and it shouldn’t be just in media. We as artistes have to change this narrative that we’re not smart. You can never completely rely on music alone to generate income and that’s why I’m always investing in different businesses,” Diamond revealed.
The singer continued, “And when you’re in it, sometimes you’ll hear people say he’s not the sole owner of that business, but that’s the point, business is all about partnerships. That’s why businesses are called companies, which means a group of individuals or entities in one.”
Diamond noted, “There will always be a number of investors waiting to partner with us artistes in businesses, and when those opportunities present themselves, you should grab them. That’s why under Tanzanian laws you can never have an individual as the sole owner of a company, you have to partner with someone even if it’s your mother, but you can’t be alone”.
According to the Tanzania Communications Regulatory Authority (TCRA), Wasafi Media has three shareholders, with Juhayna Zaghalulu Ajmy holding the controlling stake with 53 percent of the company.
Diamond owns 45 percent and Ali Kahatib Dai holds the remaining two percent.
Juhayna is the wife of Cloud’s FM and top entrepreneur Joseph Kusaga.
