Kagiso Media heads to Ghana
KAGISO Media has acquired a 37% stake in Ghana’s Global Media Alliance Broadcasting Company for an undisclosed amount and is busy setting up a direct presence in the West African country.
This is part of the company’s strategy to build a significant media company in SA and in the rest of Africa.
The Ghana transaction was expected to be followed by another transaction in Kenya, Kagiso Media CEO Mark Harris said on Friday.
"We want to create the equivalent of our (South African) Kagiso Media in Ghana. We have not decided whether we are going to call it Kagiso Media.
"We are sending quite a number of people to Ghana. It’s key people from radio and we are sending some sales and creative people too."
In Ghana, Kagiso Media also owns Reel African, which provides content to the African diaspora overseas.
The new acquisition, Global Media Alliance Broadcasting Company, operates Happy FM, YFM Accra and free-to-air terrestrial television e.tv Ghana. Sabido Investments, which owns e.tv in SA, is a shareholder in e.tv Ghana in partnership with Global Media Alliance.
Kagiso Media is fully owned by pan-African investment company Kagiso Tiso Holdings.
In SA, Kagiso Media’s investments include Kaya FM, Gagasi FM, Jacaranda FM and Urban Brew Studios.
Source: BDLive 21 September 2015