ELS: MBN360 ENTERTAINMENT
Nigerian singer and entrepreneur Mr Eazi has acquired a significant stake in a Ghanaian pharmaceutical company, linking the investment directly to the experience of caring for his late mother.
Through his investment firm Zagadat Capital GH Ltd, Mr Eazi purchased 47.5 million shares in Intravenous Infusions Plc, representing 17.31 percent of the company. The transaction was completed through open-market purchases on the Ghana Alternative Exchange and formally disclosed in a regulatory notice in May 2026. The firm now holds a substantial minority position in the pharmaceutical manufacturer.
Intravenous Infusions Plc, listed under the ticker IIL, produces intravenous fluids, saline solutions and other essential pharmaceutical products. The company is based in Ghana and serves the local and wider West African market.
Zagadat Capital described the purchase as a long-term strategic investment aimed at supporting Ghana’s healthcare manufacturing sector.
The firm made clear that the stake is not intended as a takeover or change of control.
Mr Eazi, whose full name is Oluwatosin Ajibade, serves as Chief Investment Officer of Zagadat Capital. He has built a reputation that extends well beyond music. Through the firm and other vehicles he has invested in fintech, music technology, gaming and various African startups.
This pharmaceutical move marks his first major foray into the healthcare manufacturing space.
Motive Behind the Purchase
In recent interviews, Mr Eazi explained the deeply personal reason behind the decision. His mother, Ifeoma Edith Ajibade, was ill for about three years before she passed away in March 2025. Spending extended time at her bedside brought him into close contact with hospitals and the realities of healthcare access in the region.
“Over the last three years my mom was ill. She eventually passed, but that brought me in close proximity with the hospital,” he said. “One of the things it showed me was that a lot of people don’t have access to the basic everyday drugs that they need to live.”
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He described seeing patients whose lives were cut short because they could not afford medication or because they ended up with substandard or fake drugs. The experience shifted his thinking from traditional corporate social responsibility donations toward structural investment.
Rather than only supporting hospital programmes, he chose to put capital into a company that manufactures the very products patients need. The goal, he indicated, is to help improve availability and potentially reduce the cost of everyday essential medicines over time.
The acquisition has drawn attention both for its size on the Ghana Alternative Exchange and for the unusual path that led a well-known Afrobeats artist into pharmaceutical shares. Market observers note that it signals growing confidence in local manufacturing capacity at a time when African countries continue to rely heavily on imported medicines.
Intravenous Infusions has operated for decades as a Ghanaian-incorporated manufacturer. Its products form part of the basic medical supply chain used in hospitals and clinics. By taking a significant minority stake, Zagadat Capital is positioning itself as a long-term partner rather than a short-term trader.
Mr Eazi has consistently framed his business activities around practical impact. His earlier ventures in music funding, fintech and entertainment infrastructure followed a similar pattern of identifying gaps and building solutions.
The pharmaceutical investment continues that approach, this time driven by a personal loss.
The story has circulated widely since the regulatory filing and subsequent comments from Mr Eazi. Supporters have praised the decision as meaningful beyond celebrity investment, while others have simply noted the unusual combination of an Afrobeats career and a stake in a drug manufacturer.
For now, the 17.31 percent holding stands as one of the more notable recent transactions on the Ghana Alternative Exchange. It also stands as a public example of how a private family experience can shape a public business decision.
Mr Eazi has made clear that the time spent at his mother’s bedside changed how he views access to basic healthcare, and that change has now translated into a concrete investment in Ghana’s pharmaceutical sector.
