CNBC Africa turns 13!

On June 1st, 2007, CNBC Africa was launched, marking the beginning of a journey that would revolutionize the dissemination of business news across the African continent. Today, as the channel celebrates its 13th anniversary, it stands as a testament to the relentless efforts of its founders, Rakesh Wahi and Zafar Siddiqi, who envisioned a platform that would redefine how business information was shared in Africa. CNBC Africa quickly became the largest aggregator of business news in the region, reaching 60 million households in 48 countries, and offering a platform for interviews with presidents, world leaders, economists, bankers, and billionaires. In an exclusive interview with CNBC Africa, Zafar Siddiqi, the Co-Founder and Chairman of the ABN Group, reflected on the channel's journey, its impact, and the future of the television industry. Reflecting on the last 13 years, Siddiqi expressed his pride in how CNBC Africa had broken down information barriers across the continent, facilitating cross-border investments and knowledge exchange that has been instrumental in the growth of various business sectors. He reiterated the channel's vision to provide a platform of the caliber of CNBC Africa for the continent, a vision that has been successfully realized over the years. Amidst the current global challenges posed by the COVID-19 pandemic, Siddiqi provided insights into the economic implications of the crisis. He predicted a significant reduction in the world GDP, leading to rising unemployment rates particularly affecting industries like travel and tourism. While acknowledging the uncertainty surrounding the pandemic, Siddiqi highlighted the importance of a vaccine in restoring long-term stability to the global economy. As the world adapts to a 'new normal', the television industry is also undergoing a transformation. Siddiqi noted the shift in advertising budgets due to the pandemic, with news channels seeing an increase in viewership but a decline in advertising revenue. While entertainment channels are facing challenges, streaming services like Apple TV, Netflix, and Amazon are experiencing a surge in popularity. Sports, on the other hand, are grappling with financial setbacks and uncertainties about the future. Despite the challenges, Siddiqi foresees the industry stabilizing within the next 12 to 18 months. Among the many milestones that CNBC Africa has witnessed, Siddiqi fondly recalled the privilege of meeting Mr. Nelson Mandela as one of the most cherished moments in the channel's history. As CNBC Africa commemorates 13 years of excellence in business news reporting, it continues to uphold its commitment to delivering timely, accurate, and insightful information to viewers across Africa and beyond.