PRESIDENT of the African Development Bank Group (AfDB) Akinwumi Adesina has made an urgent call for the formation of a globally respected African media outlet that will positively project the news of Africa to the world.

Adesina told delegates attending the AllAfrica Media Leaders’ Summit 2024 in Nairobi that Western media outlets were not projecting the African story in positive light as they are only focused on negative stories about the African continent.

Adesina said current media narratives are focused on the 0.1 percent of Africa's problems rather than the 99.9 percent of the continent’s progress and positivity

He said this fuels misconceptions of risks and make capital investments costly than in other regions. In his keynote address, Adesina said the lack of financing is constraining African media houses from efficiently covering the African story that could bring value to the continent. He said lack of financing has been cited by more than 92 percent of editors, journalists, and media houses, as a constraint to covering stories in Africa.

Adesina said: "I would like to propose that there is a strategic business case for financial institutions to put significant resources together to finance a credible African media institution to make it have a global footprint, because the development news about our continent must be properly prioritized and disseminated to attract even more foreign investments.

“Positive news stories about African investment opportunities need to be well showcased as, unfortunately, they do not get sufficient coverage if at all in many of the Western media.”

To a tumultuous applause from the more than 300 delegates drawn from across the African continent, Adesina added: “I would like to, therefore, propose that the African Development bank, the African import and export bank, and all regional financial institutions, pull resources together to support the emergence of a globally respected African media company that will position and project the news of Africa to the world. Africa must shape its own narrative and not depend on what others think.”

Adesina bemoaned the current situation in which stories about the African continent are being disseminated by non-Africans at foreign media houses.

He announced that the AfDB will work with all African media and corporates to establish an Annual Africa Media Prize to reward and recognize journalists promoting positive news stories on Africa that attract investment.

He also called for the formation of the African journalists and correspondents fellowships to help build and strengthen the capacities of journalists and correspondents working on Africa.

“Working with partners and corporates we also have to establish the African journalists and correspondents’ fellowships to help to build capacities of journalists and correspondents working on Africa,” he said.

"Africans must tell their own stories. Not the stories that others write about us. Not the stories impregnated with post-colonial mindsets or cold war divisions...The stories of us, Africans, written by Africans, about Africa, and confidently projected to the world.”

Media owners, chief executives, editors and other categories of journalists travelled to Nairobi for the biggest summit running from May 8th to 10th.

The AllAfrica Media Leaders’ Summit 2024 focuses on African economic transformation, AI, technology and digitization, regional integration and peace building, misinformation and disinformation, governance, standards, and capacity building, and creating sustainable business models.

 By Kelvin Jakachira, Nairtobi