Kagiso Media invests in Ghana's Global Media Alliance Broadcasting Company Ltd17 September 2015
Kagiso Tiso Holdings (KTH), through its media subsidiary Kagiso Media, has acquired 37% of Global Media Alliance Broadcasting Company (GMABC), a broadcasting company in Ghana.
This latest acquisition forms part of KTH’s strategy to expand its pan-African footprint both directly and indirectly through its key investee companies. Ghana is one of the fastest growing African economies and GMABC is well positioned with interests in radio and television broadcasting.
GMABC currently operates four radio stations in Ghana (Happy FM, YFM Kumasi, YFM Accra and YFM Takoradi), as well as one free-to-air terrestrial television channel (e.tv Ghana). e.tv Ghana was launched in 2009 as the result of a partnership between GMA and Sabido Investments, the media group which owns e.tv in South Africa.
Chief Executive for Radio at Kagiso Media, Nick Grubb says Kagiso Media is excited to work with GMA and Sabido Investments on these radio and TV assets in Ghana’s dynamic market. He explains, “GMABC’s portfolio and successful legacy means we can exchange experience and skills for the benefit of the radio stations and TV station in Ghana, as well as our media businesses in South Africa. A critical factor for us is the ability to develop practical and enjoyable working partnerships with the GMABC teams. We also look forward to posting some of our own key staff in Accra, as these relationships deepen.”
Mark Harris, CEO of Kagiso Media says, “This investment is part of our continued drive to build partnerships with strong brands that have large and loyal audiences across the continent. As a content, broadcasting and services company we are looking forward to operating in Ghana and using this as a base to expand our reach into other West African territories. It also offers us an opportunity to use our content production capability across more distribution platforms and to integrate with all our existing Kagiso Media brands.”
While Kagiso Media is looking forward to building their market experiences into the continent through the partnerships, the deal also provides GMABC with new opportunities for growth and new solutions for advertisers.
Edward Boateng, Executive Chairman of Global Media Alliance says that there is a greater frontier of growth to achieve especially with the advent of new media. He explains, “This partnership provides the opportunity to leverage on the diversity of experience and skills of GMA, Kagiso Media and Sabido Investments to present better content to our viewers and listeners.”