Michael R. Bloomberg Launches Bloomberg Media Initiative Africa
Timely and accurate reporting of business and financial matters plays a critical role in advancing efficient markets and is a key driver in supporting economic and social growth. Strengthening business and economic news coverage, expanding training programs for journalists and providing greater access to reliable data about Africa are frequently cited as important enablers to the continent’s continued development. In 2014, Michael R. Bloomberg announced the Bloomberg Media Initiative Africa (BMIA), pan-African program to build media capacity, convene international leaders and improve access to data and important financial and economic information in order to advance market transparency, accountability and governance on the continent.
The initial focus of BMIA began in Kenya, Nigeria and South Africa. Since the program’s launch, the Initiative has expanded to Ghana, Zambia, and Tanzania, with plans to extend to Senegal and Cote d’Ivoire. The BMIA provides cross disciplinary education programs and mid-career fellowships to increase the number of highly-trained business and financial journalists, convenes pan-African forums to examine worldwide media best practices and support research to stimulate media innovations, growth and sustainability, and seeks opportunities to support the growing community media sector supported by non-government organizations and citizen journalists in rural and remote communities on the continent.
Since its inception, the Bloomberg Media Initiative Africa has graduated hundreds of journalists and mid-level professionals, convened global business leaders in five countries in Africa, and supported community media on the continent, improving access to information to move markets and contribute to inclusive economic growth on the continent.
The Bloomberg Media Initiative Africa is part of Bloomberg’s Global Business and Financial Education Program designed to advance business journalism worldwide and provide career opportunities in journalism for students and journalists from diverse backgrounds. The Global Business and Financial Education Program is offered in China, India, Africa, Dubai, the United Kingdom, and the United States.
Press Release
MICHAEL R. BLOOMBERG LAUNCHES BLOOMBERG MEDIA INITIATIVE AFRICA
February 3, 2014
Bloomberg announces $10 million commitment to support pan-African business and financial journalism and advance transparency, accountability and governance on the continent.
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“Reliable data and financial analysis bring transparency to markets and promote sound economic development – and they can help keep Africa growing and creating opportunity.”
– Michael R. Bloomberg, Founder, Bloomberg L.P., Philanthropist and 108th Mayor of New York City
“Michael’s contribution to Africa comes not just in the form of this [US-Africa Business Forum] summit, but through his latest commitment of $10 million that he made just this February to African countries to build media capacity with a business focus and to promote reliability in reporting, educational opportunities, and the transparencies that markets need in order to give capital confidence to grow.”
–Secretary of State John Kerry, U.S.-Africa Business Forum
“It will establish the missing link in the development of financial and business journalism, and infuse the genre with the requisite professionalism, ethical and normative values as expressed in international best practices.”
– Professor Rahamon A.
Bello, Vice-Chancellor, University of Lagos, Nigeria
“This effort to deepen the coverage of complex issues holds the promise of advancing good governance and transparency, strengthening civil society organizations and providing the citizens of South Africa, Kenya and Nigeria with crucial information to bolster their democracies.”
– Darren Walker, President, Ford Foundation
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