Who is investing in Media in Africa?

Interesting fact about African media is that it is largely self-reliant – thanks to media itself, both local and foreign which have continued to show the African continent as a very risky place to invest in. A recent study found out that 44% of African media is financed by resources from Africa itself while 41% per cent is financed with resources from Europe.

Despite its big brother attitude to Africa, only a miserly 15% of Africa’s media is financed with resources from the USA.

The importance of the media cannot be overemphasized. Negative reporting of events in Africa has continued to impede foreign investments in the continent, although it is widely acknowledged that the continent is the storehouse of world resources.

Example of Negative Reports

An example is one European writer who says, Africa is underdeveloped because of:

1. Neo-colonial dependence of African countries. “African countries still depend on what has been called colonial pattern of trade; their priority is excessively dependent on the export of a few primary products, mostly minerals and agricultural produce.”

2. Poverty of soils and lack of water

3. Poor human resources – both qualitatively and quantitatively.

These, if true, are obviously an insignificant part of the problem. Colonial experience was of course, a catastrophe with wide and long lasting effects. But it is generally exaggerated by Europeans who want to indirectly continue their feelings of superiority while creating inferiority complexes among Africans. In the process, we have ignored the impact of information.

Role of Good Publications

Good publications are both the cause and the effect of progress. Good publications widen the opportunities that a population is aware of and create positive mood and encouragement to move forward. Negative information does the opposite. And that is precisely what has been happening in Africa.

Fortunately, the researchers say, there are now a growing number of Africa-based voices being heard, especially on business and investments. And they are changing opinions. “Risks are seen to be decreasing, opportunities increasing and diversifying and the middle class is growing robust and sophisticated.”

‘Africa Now Top Priority for Global Investors’

The America-based CMO Council says,” Geo expansion in sub-Saharan Africa has become a top priority for multi-national brands and new global contenders from China, India, Korea, Japan, Taiwan, South Africa, Turkey and the UAE. All see lucrative business and trade potential across a fast growing, rapidly evolving regional market with over one billion consumers, 53 countries and a GDP of $2.2 trillion.

“With more than 450 million mobile phone subscribers and half its population under the age of 15, Africa has become the world leader and innovator in mobile banking and money transfers.”

We in Investment News Kenya are proud to be part of this change.

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