Bloomberg announces Sh860m fund for training

Johannesburg, South Africa: Michael Bloomberg, founder of Bloomberg, philanthropist and the Mayor of New York City, Monday announced the launch of the Bloomberg Media Initiative Africa.

The Bloomberg Media Initiative Africa will provide cross-disciplinary education programs and mid-career fellowships.

This will increase the number of trained business and financial journalists to examine worldwide media best practices and support research to stimulate media innovations.

It will also provide scholarships to the next generation of media professionals and experiential training opportunities to graduate students.

The three-year pan-African program aims to build media capacity by supporting pan-African business and financial journalism and advance transparency, accountability and governance on the continent.

The initial focus of the $10 million (Sh865 million) commitment will be on Kenya, Nigeria and South Africa.

Bloomberg will partner with the University of Nairobi’s School of Journalism and Mass Communications and Strathmore Business School in Kenya.  Others will include the University of Lagos’s Department of Mass Communications and the Pan Atlantic University’s Lagos Business School, Nigeria. 

Media professionals

The Rhodes University’s School of Journalism and Media Studies and the University of Pretoria’s Gordon Institute of Business Science in South Africa will develop and deliver educational programs focused on business, economics, public policy, finance and journalism to enhance the skills and knowledge of media professionals.

“Reliable data and financial analysis bring transparency to markets and promote sound economic development – and they can help keep Africa growing and creating opportunity,” said Bloomberg.

 “The Bloomberg Media Initiative Africa will foster collaboration, support professional growth and nurture the leaders who are contributing to the continent’s very bright future.”