- He is young, black and rich!
- on a mission to export Zimbabwe music
This aptly sums up the description of 23-year old music promoter Teemak (Taona Oswald Chipunza) who has taken Zimbabwean showbiz by storm.
There is definitely no business like show business- it’s like gambling.
However, the young multi-millionaire took the gamble and vowed that he is ready to conquer the cut- throat entertainment industry in Zimbabwe and across the world.
“I am ready to conquer the industry and take the game to another level in a professional way; I have been waiting for the right time because I was busy with other things.
“I have always been in the entertainment industry and I want to take it to the world,” said Teemak addressing journalists at a Harare hotel recently.
The Malaysia based businessman has invested heavily in the local music industry and his first signing was award winning Zim Dancehall superstar Enzo Ishall (Farai Dziva).
The official signing on ceremony was held on January 23 at a glittering ceremony at a five star Harare hotel.
Details of the contract were not revealed publicly, but this publication can reveal that the artiste signing on fee was a whooping US$20 000 excluding perks and monthly allowances for Enzo.
Speculative reports suggested that it was US$100 000, but highly placed sources told this publication that it could get to that figure when you consider the costs towards his welfare , outside of the signing on fee.
Teemak went on to secure international collaborations for the artiste and it is common knowledge that those collabos come with a price.
The young millionaire also launched One House Zimbabwe, a reality show modelled along the lines of Big Brother Africa.
The winner is set to pocket US$50 000.
The show is meant to promote Zimbabwean culture.
“We noticed that whenever there’s Big Brother Africa, the show draws the attention of the majority of Zimbabweans who follow it up until the end. We also realised that most Zimbabweans who’ve participated in that show, like Pokello, have gone on to become brands to reckon with, something we want to achieve with One House Zimbabwe,” said his business partner Prince ‘Mr Stylz’ Mudzingwa during the launch of the reality show in Harare.
The 2020 edition of the Zimdancehall awards were in limbo due to financial constraints, Teemak chipped in and poured in an undisclosed amount of money .
The awards went on flawless and the winners pocketed handsome prize money.
He also ‘blessed’ the Changamire Hip Hop Awards and bought all the 500 tickets which were pegged at US$5 for the cheapest, rendering the event free.
“Changamire Festival Awards is a good platform that’s promoting Zimbabwean talent so I have decided to pay for everyone so that they can come and enjoy themselves for free.
“It’s my way to thank God for the vast businesses he has blessed me with,” said Teemak.
Asked on his source of wealth, Teemak said:
“I administer a hedge fund and I am also not scared of venturing into new ground and investment,” he said.
How did he make his money?
Teemak founded Maximus Capital, a multimillion-dollar hedge fund based in Malaysia, where he has been staying for 10 years.
As founder and chief executive of Maximus, Teemak aims to sustainably disrupt the existing financial space by providing investors with the means to safe investment options that produce exceptional returns through lean enterprise management whilst using proven profitable trading methodology.
TeeMak started out as a salesperson, selling investment opportunities in green energy for a United Kingdom-based company and achieved sales of over US$500 000.
Music critics take on Teemak’s investment
Music critics who spoke to this publication this week had mixed feelings over his invasion of the industry.
Some said Teemak must be very careful given precedence set by other investors in the entertainment industry.
“I applaud the young man’s efforts in uplifting the local music industry and we need more people like him.
“However, he must appreciate the fact that the current economic environment is not healthy and it will be hard for him to recoup his money unless it’s merely out of passion and not business.
“But as a millionaire I’m sure he conducted due diligence,” said Harare based music critic Nyasha Chuma.
“Well, do you remember Prince Tendai, he invested close to half a million on the Akon show in 2010 and when he did not get returns, he suffered a stroke and eventually died.
“We have the likes of Partson ‘Chipaz’ Chimboza, he poured his money in music and almost bled his business.
“Chris Musabayana had to dive in an empty pool in attempted suicide after he invested money in Macheso and the show flopped.
“The latest is Tichaona Ndochi Mharadze who used to fund 2 Kings entertainment and brought Chris Martin and all the big international stars, he had to sell his furniture business Coloursell and relocated to Kadoma.
“So it’s a gamble,” said another critic who refused to be named.