Earnings can be inconsistent, enforcing intellectual property rights is difficult, and trends shift quickly
Dar es Salaam. In a music industry where luxury cars, designer fashion, and packed shows often take centre stage, many artistes prioritise flaunting wealth as a marker of success while overlooking the value of long-term investment.
Veteran producer Joachim Kimaryo, popularly known as Master J, believes it is time the industry’s young stars rethought how they manage money.
In a recent interview with Iroc TV, Master J shared his personal journey with finances and investments, highlighting lessons today’s artistes should not ignore.
“When I was signing Wagosi, there were no digital platforms yet. Music was mainly accessed through Indian distributors,” he recalled.
“At that time, they gave me an advance of Sh100 million, and that was when I first began handling serious money,” added Master J.
Recognising the responsibility that came with income, Master J knew investing wisely was crucial.
“After earning, I had to be serious about managing and controlling finances,” he said.
His education and awareness saved him from reckless spending, though he concedes some money inevitably went into leisure.
Not all purchases proved sound. He admitted one of his biggest regrets was buying seven cars, including a brand-new vehicle worth $67,000.
“I regret that because I later learnt about investment: assets put money in your pocket, liabilities take it out,” he explained.
For Master J, land remains the best form of wealth. He stressed that purchasing plots today ensures a return tomorrow, recalling that three decades ago, he bought more than 100 plots.
Those same plots, initially worth just Sh1 million each, could today fetch up to Sh900 million.
“If you sell one plot today, your child can study comfortably. Don’t just keep money in the bank; buy land,” he advised.
His message resonates in a music industry where financial literacy often trails artistic ambition.
Although streaming platforms and social media have expanded artistes’ reach, they also bring challenges.
Earnings can be inconsistent, enforcing intellectual property rights is difficult, and trends shift quickly.
Without strategic investments, artistes risk exhausting their income faster than they generate it.
Adding his voice, Bongo Flava star Marioo confirmed that other top artistes, including Diamond Platnumz, have invested in land, encouraging younger musicians to follow their example.
Master J insists the true measure of Bongo Flava’s success lies not only in chart-topping hits or sold-out concerts, but also in financial stability and sustainability across the industry.
“If you buy land today, tomorrow its value increases,” he said, stressing that investment should be central to anyone serious about lasting success
