Bloomberg Launches US$ 10m Media Initiative for Africa

February 13, 2014 7:58 pm0 comments by:

Johannesburg– Michael R. Bloomberg, founder of Bloomberg L.P., philanthropist and 108th Mayor of New York City, has announced the launch of the Bloomberg Media Initiative Africa, a three-year pan-African program to build media capacity, convene international leaders and improve access to information in order to advance transparency, accountability and governance on the continent.

The initial focus of the $10 million commitment will be on Kenya, Nigeria and South Africa.

The Bloomberg Media Initiative Africa will provide cross disciplinary education programs and mid-career fellowships to increase the number of highly-trained business and financial journalists, convene pan-African forums to examine worldwide media best practices and support research to stimulate media innovations.

“Reliable data and financial analysis bring transparency to markets and promote sound economic development – and they can help keep Africa growing and creating opportunity,” said Michael R. Bloomberg. “The Bloomberg Media Initiative Africa will foster collaboration, support professional growth and nurture the leaders who are contributing to the continent’s very bright future.”

Bloomberg will partner with preeminent faculty from the University of Nairobi’s School of Journalism and Mass Communications and Strathmore Business School in Kenya; the University of Lagos’s Department of Mass Communications and the Pan Atlantic University’s Lagos Business School in Nigeria; and the Rhodes University’s School of Journalism and Media Studies and the University of Pretoria’s Gordon Institute of Business Science in South Africa to develop and deliver educational programs focused on business, economics, public policy, finance and journalism to enhance the skills and knowledge of media professionals.

“The Bloomberg Media Initiative Africa is not only topical, timely, relevant and useful, but it is also contemporary both in structural and conceptual pluralism,” said Dr. Ralph A. Akinfeleye, Professor of Journalism and Mass Communication at the University of Lagos in Nigeria. “By providing rigorous training from best-in-class faculty, media professionals and other stakeholders from the South, East and West African countries, the initiative will positively impact transparency, accountability, good governance and sustainable economic growth on the continent.”

Bloomberg Media Initiative Africa will also provide scholarships to the next generation of media professionals and experiential training opportunities to graduate students.

Linus Gitahi, CEO of the Nation Media Group in Kenya, said, “More and well-trained journalists serve the public interest by enabling the media to provide fuller coverage of key development issues. We applaud Bloomberg for making this welcome investment in the education and training of African journalists.”

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