The Nigerian Entrepreneur Building Africa’s Sports Economy Through Boxing, Events and Entertainment with Ezekiel Adamu

[00:00:00] You're listening to the Unlocking Africa Podcast Nigeria has a lot of talent, but what we lack is a structured platform. Growing up, we see a lot of great talent on the streets playing football, but without any proper platform. We see that talent doesn't go that far. What we've done over the years now is that we've built up an event industry that is now actually worth billions of dollars. What we've done is giving that stage to global audiences to see that we can also host major international events here.

[00:00:28] What we're going to be doing next is showcasing the local talents we have on that international platform. What Africa has as a culture, fusing sports, entertainment and cultural industries. That's what leadership is all about. Stay tuned as we bring you inspiring people who are unlocking Africa's economic potential. You're listening to the Unlocking Africa Podcast with your host, Terser Adamu.

[00:00:55] Welcome to another episode of the Unlocking Africa Podcast, where we explore the ideas, innovations and strategies that are unlocking Africa's economic potential. My guest today is Ezekiel Adamu. No relation to myself. He's an entrepreneur, change agent and group CEO of Balmoral Group, one of West Africa's leading events in experiential companies. But this conversation goes far beyond that.

[00:01:23] It is about how sports, entertainment and culture can become powerful engines for economic growth. Across Africa, we have no shortage of talent from football, athletics to music, film and combat sports. African creativity and athleticism are recognised all over the world. But too often, the biggest stages, the largest revenues and the global recognition are built somewhere else. So today, we explore a much bigger question.

[00:01:52] What would it take for Africa to build globally competitive sports and entertainment industries that rival the biggest stages in the world? Ezekiel, welcome, welcome, welcome to the Unlocking Africa Podcast. How are you? I'm very well, Mr. Adamu. How are you doing? I'm very well. Fantastic, Mr. Adamu. Pleasure to meet you and it's great to have you on the podcast. How's everything today in Lagos? It's beautiful, but I don't like you disowning me. I thought we're brothers.

[00:02:22] I think we are related at some place down the line. I think I'm going to have to go back and check the family history. Nice to meet you. And great job of what you're doing for Africa. Thank you for putting Africa on the map. It's beautiful what you're doing. Thank you. And talking about putting Africa on the map with what you're doing in the boxing world, putting African boxing back on the map.

[00:02:47] But before we talk about boxing, promotions, stadiums, large scale events, I'd like to start from the beginning in terms of your own journey, because I believe behind every industry builder is a story of how they first saw that opportunity. For many people, they see the events, they see the boxing promotions, they see the partnerships globally. But I want to start earlier. What would you say in terms of your experience growing up in Nigeria

[00:03:14] first shaped your interest in sports and business? Thank you very much. So, you know, growing up in Nigeria, what Nigeria has is a lot of talent. But what we lack is actually that structural platform. And growing up, you see a lot of good players on the streets, like NCAA football. You see a lot of great talent on the streets playing football. But without any proper platform, you see that talent doesn't go that far. And also Nigeria, as you know, is a developing country.

[00:03:44] And what we have in Nigeria is that we have that entrepreneurial spirit. So, I mean, growing up, I saw quite a lot of uncles, big bros, a lot of that coming up with solutions to problems. So those two together, I tell you what shaped my journey into entrepreneurship and also into sports as well. So you've touched on what shaped your journey into entrepreneurship from a Nigerian perspective. But I know you also spent a lot of time in the UK before returning back to Nigeria.

[00:04:12] Was there anything specific that you observed whilst in the UK that kind of gave you the idea in terms of how to structure sports and entertainment within Nigeria? Absolutely. I mean, when you live in countries, developing countries like the UK, for example, what you see is that when people, when you see, for example, if you see an event, there's actually quite a lot of infrastructure behind it. You have the venues, the broadcasts, the sponsors, and all of that.

[00:04:41] There's an institution behind every event. And that already gave me that insight into how to do things. You don't do things traveling. Everything about it is intentional. So that built my foundation in terms of a business and actually into structural system. And that's why you find that everything I try and do here, I always try and put a structure behind it. Building a structure takes a while. It's not a one-time thing. You need to keep doing it. You need to keep building it. And that's what we're trying to do here at Balmoral. I agree.

[00:05:10] I guess there's one thing having that insight or seeing the structure from afar, but was there anything that made you think or a specific moment that made you think, you know, Africa could build something similar or even better? Yes, definitely. I mean, when you look at the, it's things like Lagos, for example. Lagos has the culture of almost all the countries that are all put together. There's cultural level, there's the energy, there's a youth here and all of that. So it's full of opportunities.

[00:05:40] So saying that, I believe that everywhere else is fully developed. Africa is the new frontier. And the advantage we have is that everywhere else is now become a case study for us and then do it our own way, the original way, the African way. As you just mentioned, Africa is the new frontier. It's something that I always promote or highlight consistently. But was there anything specific that kind of convinced you that Nigeria was the right place

[00:06:07] and the right time to build Balmoral Group? I mean, like I said to you earlier on, Africa has always never lacked talent. The talent is here. And when you look at everywhere else in the world, you find out that the biggest problem they have is the Asian population. The problem Africa has is a useful population. It's still developing. And that actually gives any entrepreneur a major opportunity to grow here in terms of solutions that you bring to the people. Fantastic.

[00:06:37] So I guess going from the perspective in terms of you return to Nigeria with this global perspective of how industries like sports are operated, you go on to found Balmoral Group. Balmoral Group has actually grown into one of West Africa's leading event companies. When you first started, what gap in the market were you trying to fill or even fix?

[00:07:04] So for me, like I said to you, it was just all about building platforms and the infrastructure to make it happen. I remember about 19 years ago when I came back to Nigeria, there was not even a single event center here. People used to have street parties. It used to be a nuisance to the community. Most of the time, it causes traffic and all of that. So when we started with the idea of building the infrastructure and building the first event center, what we had was that people were already,

[00:07:33] you know, to change people's market is always difficult. So to even get the first customer took us for over a year, to even get one single customer. But we didn't, I mean, we were resilient. We didn't give up. And at some point, you know what they say, that preparation is opportunity. There was a change of government and the new government came out and said, you know what, enough of being a nuisance to the society. So we're going to ban all street parties or street celebrations. And then people need to go for another option.

[00:08:01] And Balmoral was there ready to leverage on that opportunity that showed up on them. We've never looked back since then. So you've touched on this slightly in terms of when you first returned, there wasn't even a single events center and the infrastructure wasn't there. In addition to that, what would you say were some of the biggest challenges that you had, you know, trying to promote or even host large scale events?

[00:08:28] When you look at countries like UK, you find that they're pulling events together. There is a full infrastructure behind it. It's intentional. And then getting people to understand that part was one of the biggest challenges, where people just want to do things and get it done now without a lot of thoughts going into it. But what we've done over the years now is that we've naturally built up a product event industry that is now actually worth billions of dollars. So it's a good thing looking back from where we started to where we are at the moment.

[00:08:57] I mean, when we started at that time, Afrobeat was just even growing up. Afrobeat was just coming up. We were at Balmora was the first company that did the first major outdoor event here in Nigeria, which was very tough because at that time people thought that, you know, we had to walk so far. It was at the band's concert. And yeah, so there was a lot of teething issues, a lot of bashing on social media at that time.

[00:09:20] But I mean, eventually people got to understand that you need to have structured platforms to be able to make this thing scalable. So I was wondering if we can discuss that a bit further in terms of what you mentioned, building this billion dollar industry and looking at the infrastructure and economics. From your perspective, how do events such as the large scale events that you host function as economic infrastructure in cities like Lagos? That's a good question.

[00:09:50] So basically what we're trying to build there is a full ecosystem. For example, when you bring large scale events here to Nigeria, you have the airlines, the hotels. Normally large scale events, you employ almost about 300 people, 400 people to be part of it. You have vendors coming as well. So it's a full ecosystem that large scale events bring to you.

[00:10:14] I think cities like Las Vegas, Dubai, London have shown how you can use entertainment and events to boost major tourism and then to also add big time to the GDP of the country. So following on from that, what lessons do you believe cities within Africa, such as Lagos, Nairobi, can learn from event hubs like Las Vegas, Dubai or London, specifically about building sustainable events ecosystems?

[00:10:43] So I think for me, it's merely infrastructure. The infrastructure and then the platforms where people already, like I said to you, talent is here. Lagos, for example, already has a population of over 250 million people. And out of that, 250 million people, about 70 to 75% of them are between the ages of 35 downwards. So it's a very useful population. Lagos has all the energy of failures, Dubai and all of that put together.

[00:11:13] So infrastructure, I think, is the most important thing. And when you have the right infrastructure, then the platforms keep coming up and then give the younger ones a lot of opportunities. I think a key theme that you've mentioned here is the infrastructure, which is lacking but developing. But the talent is already here within Africa. We have produced some extraordinary athletes across football, athletics, combat sports.

[00:11:38] But sadly, most of the most memorable or historic moments in their career is outside of Africa. Do you see that changing anytime soon? Absolutely. And that's what we're doing here with Balmora Group as well, too. Within the next couple of years, Balmora is already in the process of going public. That way we can scale. We are going to be the first African-listed experiential infrastructure platform

[00:12:08] where we start to own stadiums and major arenas and then give the young people the opportunity to showcase. So Africa is no longer the undercard. We want to be the main stage now. And I guess in order for you to get to that stage, it requires partnerships, sometimes global partnerships, strategic partnerships. I know you've partnered with Amir Khan and AK Promotions to launch Chaos in the Ring, which has drawn global attention.

[00:12:37] What would you say was the original vision behind creating that platform? So, like I said, Chaos in the Ring, boxing is just one of the ways that we are going to grow Africa on the stage. We recently partnered with Amir Khan. We partnered with Queensberry. We've got a broadcast deal with The Zone as well, too. I mean, so just keep going. What we've done as well, too, we've brought the big names down here.

[00:13:06] And then what we're going to be doing as well is now to integrate the local talent and then give them that platform where they can showcase their talent to a global audience. So you mentioned in terms of the partnership with The Zone, I know the events were broadcast globally, which is quite a big feat and also symbolic. So how important would you say it is for specifically in the sports industry for Africans to own that narrative

[00:13:31] and storytelling when building sports intellectual rights within the continent? I mean, like you said, what we have here is major talent. But what has always existed was like you have just a few that have given the opportunity to go to the West or to go outside the country to develop their talents. And then you find that also the biggest headache also, too, for the biggest, for the big platforms that are looking for this talent as well, too.

[00:14:00] But sometimes you get this talent over there, but they are not what you want them to be. So what we're about Moral is building now is to build a factory where the talent are being nurtured from back home here. So even when that opportunity comes in for them to go somewhere else or to get this thing, we've already worked on them. And then also what this does as well, it gives the younger ones a lot of opportunities here locally rather than just wait for one or two that get lucky to move around.

[00:14:30] So what we have here is a major platform and a major factory where we can start coming up with the talent, come boxing, football and all sports generally. Which is very interesting because you're not only building the physical and the economic infrastructure, you're also building that talent infrastructure and pipeline, which I wasn't aware of. So thank you for sharing that. That's amazing. Absolutely. I mean, I was telling people, I always say as well, that the infrastructure is very important.

[00:14:58] But however, the talent is where the real business is. You look at the talents like AJ, you look at talents like, I mean, I was speaking with someone recently. It was like, look at what AJ has done for Massroom. Look at what the big talent has done to make some of the major promotions globally. So having a country of about 250 million people where 75% of their youth, it means that there's a lot of AJs walking the streets. There's a lot of Moses Satoma walking the street.

[00:15:27] I'm not giving that opportunity. And that is the bridge that Balmoral is trying to cover. I guess with that, talent brings the attention of some of the global broadcasters. So for you, when global broadcasters and audiences started paying attention to Lagos as a boxing destination, what did that moment mean for you personally? I mean, I think something I need to work on personally is I need to work on my celebration.

[00:15:54] Lagos, I think I'm an achiever where once you achieve something, the next thing you're looking, what's next? What's next? We have a five-year plan. And I think on that five-year plan, we're just about a year and a half into it. So we are where we say we're going to be by this time. However, there's still a long way to go in terms of what we're trying to build. What we've done is that we've given that stage to global audience to see that we can also host major international events here.

[00:16:23] But what we're going to be doing next is actually showcasing the local talents we have here on that international platform now. So if you look at the talents which drive the business and the economics, you often describe sports as a economic multiplier, which I agree with. Can you explain how industries like boxing and live events create jobs in wider value chains in African countries or specifically Nigeria?

[00:16:49] And like I said to you, I mean, if you look at Nigeria, you have a country of about 250 million people. We might not have the purchasing power that the UK or Vegas or America has, but what we have is the numbers. And the numbers, I think business is all about a game of numbers. So what we have here is that this talent that we have here, we are using the telcos. We are using the betting, local betting platforms here.

[00:17:13] We are getting sponsors and that way the talent starts ending the same amount or if not even more than what their international counterpart are also earning. And once they see that opportunity, you find that a lot of more youth are going to gravitate towards building their talent here. And then when you have this platform as well, it means that you can actually get a lot of people to be part of it.

[00:17:34] I mean, I see a situation where in the future we become that platform where most of the biggest platform around the world will have to commit with us in order to get the best of the talent to come to their own side over there. Because we've already done the homework here. We've bettered them here. We've built up the capacity here. And when they go there, they're already almost a finished product. That's fantastic.

[00:17:57] So keeping to the economics of the industry, I know from my experience, the work I do and the conversations I have, many African governments are searching for ways to diversify their economies beyond what we see as commodities and raw materials. How significant do you believe sports or boxing can be in creating that economic multiplier or growth within certain countries?

[00:18:24] I think when you look at the UK, one of the biggest businesses, UK, America and all of that is entertainment and sports. And the talent is actually here in Africa. It's ironic, isn't it? So what we have here is basically we already have the talent. I keep saying that. A talent alone can be worth a billion dollars over a long period of time.

[00:18:46] And what we also do here as well too with most of our boxing event, we ensure that part of the proceeds of what we gain goes back to the community. So we go back to the community on behalf of the athlete and then we do something for the athlete on behalf of the platform. So, for example, if your community, for example, has a lot of kids that don't go to school on behalf of the athlete, we do our own bit by saying, you know what, we're going to sponsor. And it's like 20 kids to go to school for the next two, three years.

[00:19:15] And that gives them the opportunity. It means that anytime that athlete is coming out to fight or coming out for a competition, the whole community are going to go behind them because they know that when he wins, he's going to come back and do something for the community. So what we are doing is that we also helping the government on our own side to show that outside the economies of it, we are building athletes that are not focused on just themselves, but focused on building the community. Amazing. Amazing.

[00:19:42] As we discussed earlier, Lagos is already a cultural powerhouse. And you also mentioned that one of your first big events was an Afrobeat event with the band. Do you believe Lagos could also become one of the world's major destinations when it comes to global sporting events? It's just a matter of time. It will definitely be. I mean, for example, I remember when most of the athletes, the first time we're going to do the big time, bringing big time boxing back to Nigeria,

[00:20:09] you found that most of the athletes went to chat GPT to ask about Lagos and all of that. And then they were like, oh, please, we want to stay in this hotel. Well, yeah, it's not safe. It's not that. It's not that. And I was like, listen, don't believe what you read. Just come over. And within the next year, when they came here, in a day or two, they were asking me, we want to go train in the ghetto? We want to go train in the hood? And people love us. Why are people saying a lot of things about Nigeria and a lot of things about Africa? I said, well, I think we need to play on the media side.

[00:20:38] And I think what this event like this does is actually show people that there's nowhere as safe as Lagos, my opinion. I always put this in the way. I said, listen, if you parked your car in the city center in the UK and you have an alarm on everything, you leave your phone in the car, that phone is gone. But have a convertible in Lagos and park it in the marketplace, leave your phone outside. The community becomes your watch or watch in the car. So, I mean, you've come here before you saw.

[00:21:07] It's a community thing and it's as safe as anywhere in the world. I can't even wear a watch in central London. But here in Lagos, I can wear my watch to the ghetto and nothing will happen. So, I think what this international event does is actually change the narrative for us. I think for me, one of the things that stands out about your work beyond the infrastructure is the emphasis on youth development and also community development.

[00:21:33] I think through that, you were recently recognized with the Nelson Mandela Sports Award for your contribution to youth engagement. I know you're not good at celebrating your wins, but what did that recognition mean to you and what responsibility does it carry? I mean, that recognition was deeply meaningful for me. Nelson Mandela believes strongly in the power of sports to unite people and transform societies.

[00:21:58] So, receiving an award associated with the legacy of both, it was both an honor and a responsibility for me to keep it going. And to be recognized under a name that powerful was actually mind-blowing for me personally. I know in the past, you've said that excellence is not a performative lifestyle. What habits or principles would you say have helped you maintain that mindset while building multiple businesses and mainly by a moral group?

[00:22:28] So, for me, I think I focus on learning consciously, surrounding myself with strong teams and staying aligned with purpose. So, basically, I'm a student of life. So, I keep learning every single day. If it's something I enjoy the most, I think, is learning. So, I believe people overestimate what they can do in a year, but underestimate what they can do in three years. I agree.

[00:22:52] I know, speaking to a lot of entrepreneurs through the years, many of them only focus on profit and monetary gain. You've spoken about education, people development, community development, grassroots empowerment. Why do you believe this style of leadership should always be included? You know, like leadership of service. So, for me, I think the essence of living is giving. That has grown up with me.

[00:23:20] And I think you find that most of the people will look forward to most of the names that are being celebrated in the world. That are not being celebrated based on how much they accumulated for themselves. It's based on how much they were able to contribute to the society and how much they were able to raise their society and raise their own standard. In the way where their standard, by raising their standard, they also got the people around them to raise their standard. Fantastic. So, if we go back and look at the wider ecosystem, what's happening in the Africa sports space,

[00:23:49] are there any new trends that you're currently seeing that you're quite excited about? I mean, there's no need of reinventing the wheel, to be honest with you. But we just need to do things that are cultural. I think what Africa also has is a culture. And then infusing African sports, entertainment, and then cultural industries operating on a global scale. And for me, I think that's what leadership is all about.

[00:24:14] So, if we go from current trends and look to the future, in the next five to ten years, what does success look like for you with regards to African sports and entertainment? So, success for me will mean that African sports, entertainment, and cultural industries are now operating at global scale. That African athletes no longer have to leave the continent to reach world-class platforms. That cities like Lagos are hosting major global sporting events.

[00:24:42] In other words, African Americans have fully participated in the global creative economy. And what role do you hope Balmoro Group will play in shaping their future? So, the role is actually building infrastructure behind those experiences. We're all talking about venues, platforms, sports properties, the technology. If we build a structure properly, I think the talent and creativity will just thrive big time. It's a time bomb waiting to explode.

[00:25:11] As people, we often have quotes, mantras, African proverbs, or affirmations that keep us going when times are challenging or when times are good. Do you have one that you can share with us today? Like I said, I'm a student of life and I'm a walking encyclopedia. Yeah, so basically, in every situation, I find myself, I have major quotes. But I think one of the ones that keep me going is basically, life is always happening for us and not to us. I agree. I agree.

[00:25:40] Ezekiel, that has been a great conversation. I've enjoyed it thoroughly. I think what stands out from your story is the idea that Africa does not lack talent. It's sometimes the infrastructure that is not in place that you're helping to build. You know, whether in sports, business or creative industries, the potential has always been there. As I said, the real challenge has been building the platforms, the systems, the infrastructure that allow the talent to flourish on a global scale or stage,

[00:26:09] which is something that you're hopefully providing. So, yeah, I'm looking forward to seeing how this story develops. And I'll be keeping a close eye and keeping in touch. Thank you very much, Mr. Adamo. And I'm sure in the very near future, we'll also be having some of our talent come on your platform. Talk about how Balmoral has actually provided our platform for them to become a global star. And that, for me, will be a major success as well. I look forward to that.

[00:26:37] And we will stay in touch and speak soon. Thank you very much. Have a good one. Thank you to everyone who has listened and stayed tuned to the podcast. If you've enjoyed this episode, please subscribe, share or tell a friend about it. You can also rate, review us in Apple Podcasts or wherever you download your podcast. Thank you and see you next week for the Unlocking Africa podcast.