Investment - In Brief

Investment

- Pan-African radio station Africa No. 1 has lost its signal end of April 2011 except in Ile de France (Greater Paris). Satellite operator Eutelsat put an end to its broadcast because of unpaid bills valued at nearly $ 200 million CFA francs, partly due to the blockage of a Libyan investment by sanctions on the regime. Source: daily ‘Union’ newspaper, 27 April 2011.

- Set-top box manufacturer and Altech subsidiary UEC has unveiled a 25% (plus one share) empowerment deal with three black-led investment businesses. The value of the transaction has not been disclosed.

- On April 27, 2011 Steve Libam wrote that the second edition of “Rencontres audiovisuelles de Douala” (Rado) held from April 19 to 23, 2011 has not drawn large crowds. "One of our goals in organizing these meetings is to bring television to the public" said Remi Atangana, president of Rado’s organizing committee. Yet, these 4 days served as a meeting and trading place for TV professionals. "There is a strong statement on the African media landscape. Africa does not have any means to produce its own images and most African TV channels represent foreign culture. We need to rethink both the financial mechanism of the African broadcasting landscape and the functioning of our television ", said Remi Atangana. Rado wants to set up a fund for audiovisual production and to consolidate the distribution of African films. To this end, the image bank in Central Africa (banque d’images d’Afrique centrale in Fr.) will open its doors in June. However, according to Rado organizers, the task is daunting given the disappearance of film distribution companies, following the closure of cinemas. On the local production set, industry professionals noted an improvement in terms of technical quality, although some calibration problems remain.