Tag Archives: CNBC Africa

CNBC Africa reveals Covid challenges

Business news channel CNBC Africa is celebrating 13 years on air and has revealed the Covid-19 pandemic has presented it with major challenges.

The pandemic has seriously tested CNBC Africa over the past two months, according to the channel, which is nevertheless on almost every platform on the continent and reaches 16 million homes.

CNBC Africa currently has bureaus in Johannesburg (South Africa), Lagos (Nigeria) and Kigali (Rwanda) and produces roughly eight hours of African business and economic content per day.

It revealed it has seen advertisers and sponsors disappear as a result of the pandemic, while several of its planned broadcast business sessions had to be cancelled.

Sid Wahi, CNBC Africa’s director, said the industry has evolved over the past decade as both content creation and distribution have radically transformed.

“Although we were the first server-based TV station in sub-Sahara Africa, that was not enough, as we had to realign our processes, modernise our equipment, train our staff and consolidate the operation to meet the challenges that we were faced with,” he said.

“CNBC Africa TV channel distribution had to be addressed as well, since it was a major gap in sub-Sahara Africa. After just being available on MultiChoice’s DStv in 2007, CNBC Africa gained further carriage agreements on other platforms, such as China’s StarTimes pay TV platform.”

Roberta Naicker, MD of CNBC Africa’s owner, ABN Group, said: “The journey has been a game-changer in the business news genre as the channel has showcased business and economic news on the continent. We could not have achieved this without the commitment of the executive team and staff at CNBC Africa, who have been the cornerstone of our achievement.”

Speaking about the impact of Covid-19 on the TV business, Zafar Siddiqi, ABN Group’s co-founder and chairperson, said: “The channel has a steady viewership who are interested in business news, so we generally will not lose them. So, I’d say there is uncertainty, but we should be out of the storm in roughly 12 to 18 months.”

In a statement, the news channel said: “Covid-19 has been a major test of the channel’s resolve. On one hand, news media is considered an essential service, but on the other, there is little support in the form of advertising and sponsorships during this pandemic.

“Like all media companies, we have reached out to a lot of our long-time clients to stand by us during this extremely challenging time. The post-Covid-19 era will herald a new operating model as the experience has catalysed transformation of the business, making it more productive and efficient.”

CNBC Africa, which airs on DStv 410 and StarSat 309, is a franchise of the American CNBC brand, which was launched on June 1, 2007. Since then it has become an important voice in business and economic news across sub-Sahara Africa and has helped change the narrative of the African continent, away from the rhetoric of gloom to one of a continent on the rise.

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CNBC Africa wins LCCI award

CNBC Africa is presented with its award by the LCCI

The Lagos Chamber of Commerce & Industry (LCCI) has honoured African news channel CNBC Africa with an award for best business television.

In awarding the Johannesburg-based channel – a partnership between CNBC and franchisee Africa Business News – LCCI acknowledged its efforts to ensure the best business journalism in Africa.

CNBC Africa focuses on informing viewers about different market sectors in Africa. Since it launched in 2007, it has become a reliable source of business information across the continent.

The channel currently reaches more than 23 million TV homes, broadcasting into 48 African countries on various TV platforms, such as DSTV, StarTimes, Canal+ and Kwese TV.

Frederic Vandevyver, CNBC Africa’s executive director for West Africa and recipient of the LCCI award, said: “To get an award in Lagos, which in my opinion is one of the most vibrant economic and business cities in Africa, means a lot.

“I want to dedicate this award to the team working here in West Africa. They work 24 hours, seven days a week to ensure we cover all the business news in the best way possible. This award goes to them.”

Speaking about the ceremony, Dr Vincent Nwani, director of advocacy and research at LCCI, said: “The objective of the annual awards is to recognise, celebrate and promote private and public institutions that have exhibited the core values of best business practices, growth through innovations, business sustainability and have positively impacted society.

“This award is the outcome of a painstaking selection process from numerous entries received for this award category and backed by feedback from industry or market intelligence.”

CNBC Africa is owned by Africa Business News and a franchise of the global CNBC brand. It focuses on business and economic news in sub-Saharan Africa, with bureaus in 10 cities including Lagos and Abuja.

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Forbes Africa to relive Worst Day

The second season of business magazine Forbes Africa’s flagship TV show My Worst Day with Peace Hyde will premiere in May.

Forbes Africa’s Peace Hyde

Produced in partnership with automotive company GAC Motors, the show will air exclusively on CNBC Africa, on channel 410 of MultiChoice-owned pay TV platform DStv.

The show, which profiled numerous African business moguls including Aliko Dangote and Folorunsho Alakija in its first season in 2016, is hosted by Forbes Africa’s correspondent and head of digital media and partnerships Peace Hyde.

It sees leading African business moguls and billionaires reveal their most challenging day in business in an interview format.

“The Forbes Africa brand is renowned for its quality and prestige and we believe the partnership with GAC sits well with the brand,” said Frederic Vandevyver, executive director at CNBC Africa and Forbes Africa.

“These are the types of people you do not hear from on a daily basis and for one programme to be able to pull them together at the same time is a feat worth celebrating.”

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