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21.02.2009 General News

WAMDEF Supports Media Practitioners In West Africa

By   ISD (Michelle Fafa Agbenorto)
A sum of US$20 million has been allotted to media practitioners in West Africa by the West Africa Media Development fund (WAMDEF) to support them in their capacity building to meet the current challenges in their practice.
At a press Briefing, Professor Kwame Karikari disclosed that WAMDEF is a development fund promoted by the Media Foundation for West Africa and Free Voice to provide support through loans to upgrade the media organisations in West Africa.
'WAMDEF is an institution with the primary aim of strengthening the private and independent media in West Africa, enhancing media's access to credit, financing the development of media in business as well as leverage resources of partner organisations,' he stressed.
He said, the West Africa Media organisations operate under very challenging economic and financial conditions and as such, find it extremely difficult in getting capital to invest in their business to enhance their cooperation.
He, however, observed that most banks often see the media as a high risk enterprise and therefore do not recognise the media as a viable business sector. Hence, WAMDEF plans to commence lending operations by January 2010 with the approval of initial loans.
Professor Kwame Karikari, therefore, encouraged most media organisations to take advantage of the initiative, to enhance their capacities in order to become sustainable and independent, thereby, positioning themselves to enable them contribute to the strengthening of democracy in the sub-region.