Forbes Africa to launch this October
ABN Publishing announced recently the launch of Forbes Africa with its first edition scheduled to be on shelves in South Africa, Nigeria and Kenya from 1 October 2011. The launch of Forbes Africa is a derivative of the vision of the founders of ABN Media Holdings, Zafar Siddiqi and Rakesh Wahi to build a multi-dimensional business media conglomerate in Africa.
Co-founder and publisher, Wahi said on the occasion, "Our vision is to build Africa's most comprehensive reservoir of business content and roll it through world class brands. The launch of CNBC Africa in 2007 saw the first part of the venture to cover the broadcast media. The natural progression is to print."
Operating synergies between CNBC Africa and Forbes Africa
"The launch of Forbes Africa brings a lot of operating synergies between CNBC Africa and Forbes Africa," said Gary Alfonso, group MD, ABN Media Holdings. Other than infrastructure, there are significant economies of scale in editorial and commercial opportunities and we are all excited about the opportunity.
"The launch follows a meticulous planning process which amongst other details reviewed the timing of the launch. The double dip recession has seen a collapse in the print media industry. However, we believe that the markets are beginning to recover and with our focus on business we believe that this is the right time to herald a new venture to take advantage of a market cycle that is on the up," said Sidharth Wahi, project director.
Forbes reaches more than 4.3 million readers via publications in ten languages in more than 100 countries. Forbes Africa is its sixteenth local-language edition with English-language distribution in South Africa, Nigeria, and Kenya.
Content from Africa
The magazine will feature editorial content from across the continent, as well as relevant content from its partners in the US. At the helm of this monthly publication is journalist, Chris Bishop who takes on the role of managing editor. Bishop will be responsible for its set up, launch and its ongoing operations.
Bishop said: "I am very excited about this new and influential voice in Africa. There are truly great business stories in Africa stories and we will be telling them with all of the panache of the strong Forbes brand."
