The cinema industry is relatively new in Nigeria. But it is one that hit the ground running from day one. Now, many Nigerians have imbibed the cinema culture and fill up cinema houses on the opening weekends of blockbuster movies.
One of the cinema companies that made this possible is Filmhouse Cinemas, which was established in 2012 and has since grown to have cinemas located in big cities across the country.
Meet the founder…
On Nairametrics‘ founder’s profile this week, we bring to you Moses Babatope, the co-founder of Filmhouse Cinemas and FilmOne Distribution and Production Company. Babatope is one of the leading stakeholders in Nigeria’s cinema and film distribution industries. He is also a known writer and movie producer. With his business ventures, Babatope is not just addressing the needs of movie enthusiasts, he is also committed to delivering returns for filmmakers in the country.
Co-founding Filmhouse and FilmOne
Both FilmOne and Filmhouse Cinema were co-founded by Babatope in December 2012. Ever since then, the companies have been major players in the Nigerian film industry. Filmhouse Cinema specialises in cinema operations. It manages and owns cinema locations all over the country (about 10 of them). It also designs, and consults for cinema projects.
The cinema company is big on technology and takes pride in its digital projection systems across all its cinemas, including its High Frame Rate cinemas.
On the other hand, FilmOne Distribution and Production Company is an independent distributor and producer of filmed entertainment which provides top-end film release services, mainly in Nigeria.
FilmOne’s debut project “Half Of a Yellow Sun” was released in 2014. It is pertinent to note that the company also distributed “30 Days In Atlanta,” a movie which was declared the highest grossing film of all time in Nigerian cinemas in 2015.
Early Life and Education
Babatope hails from Ilesa, Osun State, Nigeria, but he is also a naturalised citizen of Great Britain. Prior to the naturalisation, the movie entrepreneur attended Iyaniwura Nursery and Primary School Ilupeju, Lagos between 1988 and 1993. He then went on to have his secondary school education at Home Science Association Secondary School in Lagos between 1993 and 1999.
In the same year he graduated from secondary school, Babatope enrolled in Babcock University, to study Economics before transferring to Middlesex University Business School, where he completed his Bachelor’s degree in Money Banking and Finance in 2003.
He continued his education at Middlesex University Business School, with a Master’s degree in International Finance and graduated with a Merit in 2005.
His Career Milestones
Babatope has cognate experience of over 20 years in cinema operations management, film production, and film distribution. His experience cuts across several locations in the world, including Nigeria and the UK.
Babatope started his professional career from Odeon Cinemas Group, where he worked for almost a decade. He started in November 2003 as a team leader in the company. In August 2005, he became a Cinema Manager in the same company. Thereafter, in 2009, he became a Special Project Manager in the company and finally left in June 2013.
Prior to his resignation from Odeon Cinemas Group, Babatope co-founded Talking Drum Entertainment Limited, a UK-based film distribution company that specialises in black film and TV content.
After co-founding a film distribution firm abroad, Babatope felt the need to tap into the numerous opportunities in Nigeria’s film industry. That’s how he co-founded Filmhouse Distribution and Production Company and Filmhouse Cinemas.
Having produced Taxi Driver, The Wedding Party, amongst other box office smash hits, Babatope has a proven track record of promoting black films on the global stage.
Being one of the very few major players in Nigeria’s filmmaking industry, Babatope has toured beyond the shores of Nigeria, and Africa at large, delivering speeches and lectures on theatrical distribution at prestigious events like the African International Film Festival and Film Africa Festival.
In November 2018, Babatope was recognised as the ‘Entrepreneur of the Year’ by Harvard Business School Association of Nigeria.
Moses Babatope is married to Margaret Babatope whom he once described as a supportive wife. Their marriage is blessed with two sons.
[KEEP READING: Valentine Ozigbo, The village boy who became a world-class CEO]
Meet King Maha of Thailand, the richest royal figure in the world
The Thai king, Maha Vajiralongkorn is several times wealthier than his British counterpart.
When it comes to monarchies and royal families, the British Royal Family is easily the most revered of them all. One might begin to think they are the wealthiest. Well… they are not!
They are not even in the top five list of wealthiest royal families.
In today’s article, we will look at a monarch who is several times wealthier than his British counterpart.
Meet King Maha Vajiralongkorn
The 63-year-old king of Thailand who took over his father’s throne is currently the wealthiest royal figure in the world. His late father King Bhumibol Adulyadej passed in 2016 and was the longest-serving monarch in the world.
After the coronation of the new King Maha Vajiralongkorn, a strange communique was published on the royal website. The entire portfolio of the Crown Property Bureau was to be transferred into the hands of the new king.
Before this announcement, The royal portfolio worth over 40 billion dollars was held by the king on behalf of the nation but now it was to be transferred to the new king. Subsequently, King Maha officially became the richest monarch in the world with a personal net worth and assets valued at $43bn according to the South China Morning Post.
King Maha’s major assets
The bulk of King Maha’s net worth comes from three major assets:
- A 23% stake in Siam Commercial Banks, one of the largest commercial banks in Thailand. The bank is valued at $1.7bn according to the Financial Times.
- A 33.6$ stake in Siam Cement Group which is the country’s largest industrial conglomerate.
- 16,000 acres of prime Thai land and over 40,000 rental leases with developers.
A call for change in Thailand
According to Financial Times, recent protests and critics have called for a serious review of the monarchy’s grip on the country and its finances. The protesters led mostly by students are of the opinion that public funds should not be made available for a king.
Thailand runs a system of government known as Constitutional Monarchy where the king is the Head of State.
King Maha’s lifestyle of luxury
King Maha spends most of his time in Germany and has a stunning fleet of 38 aeroplanes and helicopters. His second wife Queen Sineenat is a trained military pilot.
King Maha owns the largest faceted diamond, a 546.67-carat brown diamond.
What you should know about the Thai economy
Thailand is the eighth largest economy in Asia and the 22nd largest export economy in the world.
The GDP of Thailand is calculated as $505 billion, which results in a GDP per capita of $7,274.
King Maha is the richest royal figure in the world and he is closely followed by the Sultan of Brunei Hassanal Bolkiah and the king of Saudi Arabia Salman bin Abdulaziz Al Saud.
Ibiene Okeleke: A diva in HR and Management
Ibiene Okeleke is an Executive Coach passionate about people development, career development and youth empowerment.
With about three decades of a rich and boisterous career across the financial and the energy sector, Ibiene Okeleke has earned bragging rights not just for her skills but her results and accomplishments across human resources and retail banking.
Through the years of working in different firms, Okeleke has shown skills in business development, negotiation, succession planning, talent management, organisational development and job evaluation.
Ibiene got admitted into the University of Lagos in 1989 and obtained her first degree in Industrial Relations & Personnel Management from the University of Lagos in 1993. Okeleke got a quick career start immediately, obtaining the rest of her degrees while working.
She completed an MBA at the IESE Business School, University of Navarra, Spain in 2002, and also got an Advanced Human Resources Executive Degree from the Ross School of Business, University of Michigan.
Okeleke has also completed a Strategic Human Resource Training course at Harvard Business School, and she is a certified Prince 2 Practitioner.
She has a LinkedIn certification in Leadership Foundation: Leadership Styles and Models; Creating a Communications Strategy; and How to Create and Run a Brilliant Remote Workshop. She also has a Coursera certification in the Electric Industry Operations and Markets.
Okeleke started out her career in 1994, at Inlaks Computers as HR Officer and spent 5 years in the position. She joined FSB International Bank Nigeria as a Human Resources Officer and spent nine months in the role before heading the Liability Generation Unit of the bank until Feb 2001.
She went on to lead the Human Resources department at Bond Bank Nigeria for the rest of 2001 and later, at Assurance Bank Nigeria Ltd between 2002 and 2006.
Her foray into the energy and power sector started with a role as the Group Head of Human Resources at the Sahara Group in 2006. After the privatisation of the power sector in 2013, she moved to Ikeja Electric as the Chief Human Resources and Administrative Officer and positioned the company to become one of the most notable and leading distribution companies in Nigeria.
In May 2019, she resumed at Energy Training Center (ETC) as the Managing Director. As the leader of this strategic learning academy, she has positioned the institution to provide a wide range of learning interventions for the entire Energy sector. The Academy is focused on capacity building through bespoke learning experiences with the perfect blend of technologies and techniques to achieve organizational and personal success.
Ibiene Okeleke is also an Executive Coach passionate about people development, career development and youth empowerment, and serves as an adviser on some Not-For-Profit Boards.
Nairametrics | Company Earnings
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- FCMB Group Plc appoints Muibat Ijaiya as Director.
- Afromedia Plc reports a loss after tax of N27.3 million in Q1 2021.
- 2021 Q1 Results: FTN Cocoa Processor Plc reports loss after tax of N162.21 million
- Tantalizers Plc reports a loss after tax of N97.75 million in FY 2020 in Q1 2021.
- Courteville Business Solutions Plc proposes final dividend of 3 kobo per share for FY 2020.