CNBC Africa invest in Ghana

CNBC Africa invest in Ghana

March 14, 2008


-Partners NET2 TV

CNBC Africa has secured a terrestrial television distribution deal in Ghana, effectively delivering CNBC Africa\'s internationally acclaimed business news to a potential audience of five million viewers in and around the capital Accra.


Gary Alfonso, Chief Operating Officer (COO) CNBC Africa disclosed the deal concluded with Kencity Media Group will give the network a broadcast window of between 10 and 12 hours a day on the Net2 TV channel.


\"This opportunity presents CNBC Africa with the ideal situation in West Africa, as we will broadcast business content from across Africa to the broader business orientated and economic market in Ghana, which has maintained a growth rate in excess of 6% for the past 3 years,†he says.


“There are 11 commercial banks in Ghana, with at least three more global players on the way in the next two years. With no restrictions on foreign exchange, and recent deep sea oil discoveries off the coast of Ghana, this market is going to be a shining beacon of responsible economic development over the next two decades†Alfonso said.


He disclosed that that talks have already started with the Ghana Stock Exchange (GSE) and financial institutions linked to the exchange to contribute daily from Accra, with pertinent content on the financial markets, resources/commodities, the economy and business activities in the West African country.


Revenue from advertising in this vibrant and lucrative market will be shared between CNBC Africa & Net2 TV, resulting in a win-win partnership for the two media entities. Ad spend in Ghana was up between 37 and 40% in the past two years, driven mainly by the telecoms sector which grew from 5% penetration in 2004 to between 15 and 20% by mid-2007.


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