Kagiso Tiso Holdings, the South African investment company, has taken a 37% stake in Global Media Alliance Broadcasting, a media company that operates radio stations and a television channel in Ghana. Financial terms of the deal, which was transacted by KTH subsidiary Kagiso Media, were not disclosed.
“This investment is part of our continued drive to build partnerships with strong brands that have large and loyal audiences across the continent,” commented Mark Harris, Kagiso Media’s CEO. “As a content, broadcasting and services company we are looking forward to operating in Ghana and using this as a base to expand our reach into other West African territories.”
The acquisition is part of KTH’s strategy to expand its pan-African footprint both directly and indirectly through its investee companies. GMABC operates four radio stations (Happy FM, YFM Kumasi, YFM Accra and TFM Tokoradi) and one free-to-air terrestrial television channel, (e.tv Ghana), in one of Africa’s fastest growing economies. The deal will help GMABC and Kagiso Media leverage each other’s market experience to generate new opportunities for growth and provide new solutions for advertisers.
Nick Grubb, CEO for Radio at Kagiso Media explained. “GMABC’s portfolio and successful legacy means we can exchange experience and skills for the benefit of the radio stations and TV station in Ghana, as well as our media businesses in South Africa. A critical factor for us is the ability to develop practical and enjoyable working partnerships with the GMABC teams. We also look forward to posting some of our own key staff in Accra, as these relationships deepen.”