By John Chiahemen
Twelve journalists from East and Central Africa completed a one-week workshop in Nairobi at the end of March, heralding a groundbreaking partnership in media training on the continent between Thomson Reuters Foundation (TRF) and the Investment Climate Facility for Africa (ICF).
The intensive, hands-on programme at the Kenya School of Monetary Studies was the first of six “Introduction to Business and Financial Journalism” workshops the ICF is sponsoring this year as part of its mission to improve the continent’s investment climate.
The ICF is the only pan-African body based in Africa, explicitly and exclusively focused on improving the climate for business and investment on the continent. TRF has been training journalists since 1982 and has several thousand alumni in more than 170 countries.
“Journalists have an absolutely fundamental role to play when it comes to transforming Africa’s investment climate and reputation as a place to do business,” ICF trustee William Kalema told the participants at the start of the workshop on March 23. “We strongly believe there is a direct and very clear correlation between the quality of business and financial reporting in Africa and investor confidence.”
Both Kalema and ICF CEO Omari Issa stressed accuracy and thorough independent research as the guiding principles expected of African financial journalists.
“It’s very important that you do your own research,” Issa told participants in remarks before he handed out certificates at the end of the workshop on March 27.
“See what governments (in your countries) are doing to win new investors and to keep those already on the ground,” he said.
“Potential investors would usually seek information from existing investors before they invest in a country. Go out and listen to investors and then do your own research and report accurately,” he said.
“Investors who are already there could be good ambassadors for your country. They can do much more than all the delegations sent abroad,” Issa added.
Participants singled out the practical nature of the course, including a field trip to the Euromoney Kenya Investment Conference addressed by President Mwai Kibaki and attended by his prime minister and key economic team, as the highlights of the course.
Kibaki laid out his government’s development vision and strategy for attracting investors to East Africa’s economic powerhouse and gateway to the larger region stretching through the Great Lakes to the Democratic Republic of Congo and Sudan. His opening address and a live interview with Prime Minister Raila Odinga at the venue as well as a panel discussion involving Finance Minister Uhuru Kenyatta all provided Godsent material for practical reporting exercises.
“I really liked the practical aspects – the writing and the discussions. That was very useful,” said Catherine Namuddu, Business News Editor of Uganda’s New Vision daily and the only woman on the course.
James Mbugua, a business reporter for the Nairobi Star, described the workshop as insightful, though he felt it should have been extended to about two weeks.
“There’s a lot of learning from veteran professionals,” he said, referring notably to former senior Reuters journalists Nick Kotch and John Chiahemen, the two programme instructors. Guest speakers included Reuters Nairobi Bureau’s David Clarke who addressed the participants on “Reporting Africa at a time of global economic crisis” and Aly-Khan Satchu, CEO of Rich.co.ke who spoke on “Investor Perceptions of African markets: the impact of the global financial crisis”.
The Nairobi workshop will be followed by five others in different regional centres on the continent. including at least one in French and another in Portuguese. Furthermore, 20 journalists among the participants who demonstrate the greatest potential on the introductory workshops will be invited to an advanced training course at a major international centre – likely to be London, Paris or Lisbon.
In this advanced phase, participants will have the opportunity to meet international peers, visit international stock exchanges and immerse themselves in the heart of the country’s business and commercial operations.
“Our training programme is the largest and most ambitious initiative of its kind to date in Africa,” the ICF’s Kalema said.