An investment fund of US$ 500 million for African media
Closing the 3rd New York Forum Africa last week in Libreville, the theme of media transformation in Africa has been debated between Richard Attias, Youssou Ndour, Anming Gao, General Secretary of China Daily and Dominique Flaux Ecofin Agency. The panel was moderated by journalist Christine Kelly, a member of the French CSA.
On this occasion, Youssou NDour and Richard Attias announced the creation of an investment fund for African media that they have jointly initiated. The goal is to raise US$ 500 million by the end of 2014.
Operational teams will be composed of professionals already working in the respective businesses of the two initiators. According to Richard Attias, discussions are already advanced with African and international investors.
The fund will be designed to invest in training and support for professionals and especially in the production of African content, both in terms of information and entertainment .
Source: 1 June 2014 - Agence Ecofin – translated from French by Balancing Act