Posted by: africanpressorganization | 9 April 2010

Launching of West Africa Media Development Fund (WAMDEF)

 


 

 

 

Launching of West Africa Media Development Fund (WAMDEF)

 

 

ACCRA, Ghana, April 9, 2010/African Press Organization (APO)/ — The Media Foundation for West Africa (MFWA) will launch on Tuesday, April 13, 2010 a fund to provide low-interest credits to address the financial challenges of small and medium the private and independent media in West Africa.

 

This new fund, the West Africa Media Development Fund (WAMDEF), is the initiative of the MFWA with support by Stiftung Free Voice, a Dutch non-governmental media support organisation and the global Media Development Loan Fund based in Prague and Washington, D.C.

 

WAMDEF’s objective is to help strengthen media pluralism to enhance the media’s capacity to strengthen democracy in West Africa.  It will make available loans at lower than commercial interest rates to private and independent media outlets in the region.

 

Currently, there is an estimated 5,000 private media enterprises in West Africa and most face various levels of critical financial challenges that could undermine their sustainability in the coming years.  This is largely because most are not able to access financial and technical resource from traditional financial institutions owing to the peculiarities of the media business. 

 

The WAMDEF process began in 2006, with feasibility studies in ten out of the 15 countries in the region. WAMDEF is headquartered in Accra, Ghana, and will operate as an autonomous institution.

Published in Accra by MFWA on April 8, 2010

The MFWA is a regional independent, non-profit, non-governmental organization based in Accra. It was founded in 1997 to defend and promote the rights and freedom of the media and all forms of expression.

 

SOURCE 

The Media Foundation for West Africa (MFWA)


 


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