The President of the African Development Bank (AfDB), Dr Akiwumi Adesina has proposed the building of a globally respected African media organization that would cover the continent positively and position news about Africa to the world.
Giving the keynote address at the opening of the AllAfrica Media Leaders Summit today May 9, 2024 in the Kenyan capital, Nairobi, he said, “I would therefore like to propose that the African Development Bank, Africa Import-Export Bank, and all regional financial institutions pull resources to support the emergence of a globally respected African media company that will position the news of Africa to the world.”
He noted that Africa must shape its own narrative, and not depend on what others think about it or the perspectives they prefer to share about it, its achievements, and opportunities.
He also called on the development institutions in Africa to set up a joint repository of verified and standardized stories, videos and content that will make it easier to aggregate and write stories on what’s being achieved in Africa.
“This will lower the search costs of news houses for stories on what is working in Africa,” he said.
He also proposed that it is important to recognize and profile African journalists, correspondents and media houses that promote Africa with unbiased stories.
“The African Development Bank will work with the All Africa Media and African corporates to establish the Annual Africa Media Prize,” he added.
Speaking on the theme of the Summit: “Re-engineering African Media in Times of Critical Transformation,” he said an independent, professional, responsible, and thriving media is critical for freedom of speech, the development of democracy, and the strengthening of inclusive societies.
“It has been a tough ride for media establishments and enterprises across Africa since the Covid-19 pandemic. The unprecedented pandemic disrupted business models, altered audience relationships, squeezed revenues, and tested professional values and public trust.
We live in dynamic times. Technology continues to evolve rapidly. The rise of the Internet, digital and social media platforms, has shifted the focus of audiences from a reliance on radio, TV, and print publications,” he said.
Dr Adesina noted that two thirds of the global population now turn to the Internet, social media and a plethora of digital media and apps, the Internet for their access to real time news, information, and entertainment.
“This dynamic shift is largely fueled by the widespread use of mobile phones. By 2030, 6 billion people globally will have access to smartphones. Of these, 692 million will be in Africa,” he said.
Among other things he noted that, the African Development Bank, working with partners and the African corporates will also help establish the African Journalists’ and Correspondents’ Fellowships to help build and strengthen the capacities of journalists and correspondents working on Africa.
“Two weeks from now, Africa and the world will gather right here in Nairobi for the 59th Annual Meetings of the African Development Bank, from May 27–31. It will be an occasion to also celebrate 60 years of the establishment of the African Development Bank.
In those 60 years, we have grown from humble beginnings to what we are today: a globally respected financial institution setting the pace in the world of global development finance,” he said.
By Emmanuel K Dogbevi, in Nairobi, Kenya
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Full speech below:
