CNBC Africa will replace CNBC Europe in South Africa, according to this report. In addition, the company, which is 30 percent owned by the government, is planning an initial public offering within the next three years.
Dikatso Mametse wrote, “The new channel will blend in local and international economic news and will have bureaus in Nigeria, Botswana, Kenya, Namibia and Tanzania in the initial stage.
“It will expand to other countries in the next few years.
“In total, $20m (R144m) is invested in CNBC Africa.
“The IDC is a 30% shareholder in Africa Business News, the company that owns and operates CNBC Africa. The rest of the shareholders are from the Middle East.
“Chairman of CNBC Africa, Zafar Siddiqi, said that the investors are large institutions and families that will use this as a pilot project for other investments in South Africa.”
