PREMIUM Times, Nigeria’s investigative digital news outfit and the Voices of the African Continent (VOTAC) have announced a strategic alliance for in-depth news coverage of the African capital markets.
The collaboration is set to kick start the African Capital Market (ACM) Today, a financial news platform dedicated to ensuring transparency in market activities, involving 29 stock exchanges in 54 African countries.
The news contents will be live-streamed from studios in San Francisco and Abuja.
ACM Today will also be carried on US cable networks, reaching 33 million television households and will be available on local television channels in Atlanta, Chicago, Dallas, Houston, Philadelphia, Los Angeles, and New York Tri-State Area (New York, New Jersey and Connecticut).
The programme is designed to aid innovation, increase foreign direct investment and economic mobility on the African continent.
According to a joint statement released by both organisations, the partnership was born out of the need to redirect focus from Africa’s extractive industries which currently does not account for the continent’s long-term capital inflows to technology, telecommunications, retailing and services.
“The extractive industries have accounted for more than half of Foreign Direct Investment, FDI just once in the past seven years. Africa’s labour force is projected to be nearly 40 percent larger by 2030 as global investors now come to Africa for the promise of its people than for its physical properties. It is no longer what Africa is today but what it is becoming.
“By providing a global media platform, Premium Times and VOTAC will offer subject matter experts, industry and market analysts, commentators, investigative and financial news journalists with in-depth knowledge of Africa, guided by professional disciples,” the statement read.
Dapo Olorunyomi, Publisher of Premium Times was enthusiastic about the outcome of partnership which he said will add value to the African continent by leveraging on the experience and network from the diaspora.
“We are proud of our partnership with VOTAC. The African diaspora is going to play a critical role in Africa’s civil and economic transformation. We already see these positive synergies in our partnership with VOTAC and its proprietor, Abraham Tuyo…their energy, experience, and networks, which combined with the local know-how of domestic institutions is certain to create value on the continent,” he said.
Abraham Tuyo, Founder & Interim CEO, VOTAC, also expressed confidence that the collaboration will put African news reporting on economic activities on the same pedestal with their counterparts around the world.
“In Premium Times we have a partner with deep roots and history in investigative journalistic excellence. We believe Africa and Africans need to take charge of news reporting economic activities on the continent. Global readership of Premium Times is proof that Africa and Africans produce news stories on par with the rest of the world,” he said.
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