Business
African investors announce the launch of the African News Agency
Top African investors have announced the creation of the continent’s first news syndication service, the African News Agency with an initial investment of US$20 million.
The African News Agency, set to launch on 1 March 2015, is a digital content-generation and syndication service that will provide an affordable source of reliable and credible news from the continent.
African business leaders, including Ladislas Agbesi, executive chairman of the Pan African Business Forum, and Iqbal Survé, executive chairman of Sekunjalo Investment Holdings, are among those behind the formation of the African News Agency.
According to Agbesi (who will be the founding chairman of the agency), “for the first time we shall be disseminating news and stories about our continent through our own voice, interpreting our own stories for the world. This is truly history in the making and a very significant development.”
“News about Africa is a growing demand globally and we hope to capitalize on that. We want to take our place among the leading voices on Africa in an increasingly interconnected globe. Our immediate goal is to have a presence in 15 African countries by July this year.” he added.
The agency’s launch follows news that the South African Press Association (SAPA) will be liquidated and cease to operate from midnight on March 31, 2015, leaving a major void in the South African media industry.
SAPA’s liquidation was accelerated by the withdrawal of two major media houses in 2014, which severely affected its ability to continue to provide an effective syndication service.
The African News Agency, which will be headquartered in South Africa, will provide the South African and African market with solid political, business, current affairs, lifestyle and sport coverage.
The news agency will will collaborate with partners across the African continent to create a news syndication service by Africans, for Africans and a global audience.
