As the film ‘Osamede’ prepares for its October 17 cinema debut, Folajimi Alli-Balogun, Assistant Vice President at MBO Capital, shares insights into why the investment firm chose to support this Benin cultural epic, adapted from a celebrated stage production. He also outlines the unique artistic and cultural significance of the film, alongside the critical criteria MBO Capital applies when evaluating film investments.
‘Osamede’ arrives with more than just its compelling narrative and performances; it carries the financial endorsement of MBO Capital, a key institutional player aiming to expand its ₦2.3 billion investment portfolio in Nollywood. This positions MBO as one of the few formal investors actively fueling the growth of Nigeria’s film industry.
In a conversation with Nollywire, Alli-Balogun, who previously spoke at the KAVA launch, detailed how ‘Osamede’ captured MBO Capital’s interest and why it stood apart from other projects.
“What made Osamede stand out was its distinctiveness,” Alli-Balogun explained. “While Yoruba epics are more common, this story is deeply embedded in Benin heritage. Moreover, its origin as a stage play that enjoyed significant success demonstrated its strong audience appeal and potential for cinematic adaptation.”
The transition from stage to screen was championed by executive producer Lilian Olubi, whose background in finance facilitated a smooth alignment with MBO Capital’s investment framework.
“Lilian’s financial expertise made a significant difference,” Alli-Balogun noted. “She communicated in terms we understood-debt, equity, structuring-which helped us sync up early in the process.”
MBO Capital’s Investment Criteria for Films
Beyond ‘Osamede’, Alli-Balogun highlighted three essential elements that guide MBO Capital’s decision to fund film projects: the experience level of the creative team, the comprehensiveness of the budget, and the robustness of the distribution strategy.
- Proven creative teams: “We prefer not to invest in first-time filmmakers,” he said. “If the executive producer is new, it’s crucial that the supporting team has substantial experience. We want specialists in their roles, not individuals juggling multiple responsibilities.”
- Thorough budgeting: “A vague budget often leads to complications during production,” Alli-Balogun emphasized. “We expect detailed, itemized budgets that leave little room for ambiguity.”
- Strategic distribution plans: Distribution is paramount. “Producers today are more ambitious, and for us to commit capital, we need assurance of viable revenue streams. This means clear, realistic plans for theatrical releases and digital platforms like Netflix and Amazon, especially considering the unique dynamics of the Nigerian market.”
This investment philosophy is precisely why ‘Osamede’ attracted MBO Capital’s support. Directed by James Omokwe, marking his return to film after helming several acclaimed epic TV series, the movie builds on the success of its stage play origins, which resonated powerfully with audiences through multiple runs.
Anticipation Surrounding ‘Osamede’ Before Its Premiere
Having previewed the film, Alli-Balogun is confident that viewers will experience something truly original.
“It offers a fresh perspective unlike anything currently in Nollywood. The acting is compelling, the narrative rich, and hearing the Benin language on screen is a refreshing change. Filming on location in Edo State also enhanced the film’s visual authenticity,” he remarked.
The production was an ambitious undertaking, with the cast dedicating two weeks to deeply engage with Benin’s history while filming across the scenic Edo landscapes to authentically recreate the epic tale.
The film’s trailer has already generated excitement by providing a window into Benin’s heritage and sparking conversations about a broader, more diverse storytelling approach in Nollywood. Industry veterans like Moses Babatope have expressed optimism about the film’s commercial prospects, reinforcing its potential box office success.
While MBO Capital’s core strength lies in financing, Alli-Balogun noted that the firm also offers advisory support to its projects. “We don’t influence creative decisions, but we assist producers in refining financial models and proposals to ensure viability,” he said.
By backing the Ivie Okujaye-led ‘Osamede’, MBO Capital is testing a model it believes can enhance Nollywood’s appeal to investors. As the firm expands its involvement, ‘Osamede’ may well be a harbinger of a new era rather than an isolated case.
Tickets for ‘Osamede’ are now available for early purchase here.
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