Solomon Ajayi, the founder and CEO of one of the leading digital media groups in Nigeria, Tree Money Yard Empire Ltd, known as TMY Empire for short, has given an appraisal of 2023 even as he offered a positive prognosis for 2024.
Solomon Ajayi, while reflecting on Nigeria’s challenging economy in 2023, said: “With my technology experience, I’ll advise everyone to invest more of their energy on social media platforms for their brands in 2024, rather than relying on offline platforms.”
The TMY Empire boss also added: “I believe the social networking industry is helping more than the country’s resources. Offline investment has a higher business risk than online investment. Do people notice that when inflation’s so bad, that is when the biggest companies, for example, Amazon, make billions of dollars?”
Speaking about the economic growth of the TMY Empire conglomerate, he revealed that the business group’s economy grew by 72.9 per cent in the fourth quarter of 2022.
According to him: “The company made an unprecedented profit in 2022, as shown by its GDP, but it plunged into a recession in 2023 due to the country’s inflation.”
On his vision for the Tree Money Yard Empire Ltd in the coming year, he said: “My desired goal for 2024 is to operate with a high standard of excellence in business organisation and effectively manage music licencing and copyright processes, song promotion, royalty collection, and key partnerships around the world.”
The Ogun State-born techpreneur, who grew up in Ajegunle, Lagos, started formally as an artist at Bravo House of Entertainment and went on to work as a computer programmer at KD Records until he established Tree Money Yard Records in 2015.
Starting in the Festac area of Lagos, he later moved his headquarters to the upscale Lekki neighbourhood.
TMY Records has metamorphosed into TMY Empire, a conglomerate with subsidiaries that include Tree Money Yard Media and Tree Money Yard News, among others.
Reminiscing about the company’s success, he said: “Tree Money Yard Empire Ltd gained international reputation within a short period of years. It all happened in 2017 when I was introduced to a Facebook programme that led me to become a smart tech. It gave me the advantage of travelling to other countries. I became an expert in media technology and had the advantage of recognition as a Meta-verified business partner.”
Becoming a Meta-verified business partner opened doors to multiple international business partners, he disclosed.
“TMY empire was popularly recognised among PR organisations in the USA, Europe, Dubai, and Africa. The Tree Money Yard Empire led to other brands under its imprint,” he said.
Today, the TMY Empire includes TMY News, TMY Music (also known as TMY Records), TMY Paygo, TMY Podcast, and TMY Digital, a platform developed to connect the world with digital banking solutions.
The latest addition to the group, TMY Paygo Services Limited, is a digital fintech company that operates as a frontline mobile-based money platform.
According to him, “It offers banking agents and crypto vendors an avenue for sending and receiving money, fund disbursement, and crypto processing solutions.”
