The Business Daily, a publication of the Nation Media Group, has won the prestigious Diageo Africa Business Reporting Award (DABRA), joining the club of journalism’s best only a year after its launch.
The publication won the 2008 Media of the Year Award beating seasoned players for its outstanding coverage of the African business scene.
Top contenders for the prize included The Africa Report of Paris-based Jeune Afrique publishers, African Banker and African Business, both of London-based IC Publications, who made it to the finalists’ list.
In declaring the newspaper the winner, the judges said the Business Daily is “informative, accessible and well written.”
“It’s fantastic to see a home grown African publication really standing out in an international forum,” they said.
Diageo Africa’s awards are the most prestigious business journalism citations and are dedicated to honouring the best journalism work coming out of the continent. Diageo, which founded and funds the initiative, is a global spirits and brewing business with significant interests in Africa.
The Business Daily is East Africa’s only daily business paper and covers local and international news. It has become a must read for company executives, fund managers, investors and other decision makers in Kenya and a large global audience follow it online.
The newspaper’s impact has been felt for the prominence it has given business news which has always been tucked inside other daily newspapers.
It has broken ground as a one-stop-shop for insight into breaking business news, a tracker of business and economic trends as well as a source of information that readers can use for personal advancement.
Small and medium enterprises have also found a voice in the Business Daily. The newspaper recently launched a survey that seeks to identify Kenya’s top 100 SMEs in conjunction with audit firm KPMG.
Running for the fifth year, DABRA is open to publications and news agencies across the globe.
The managing director of Diageo Africa, Dr Nick Blazquez, said findings from commissioned researchers showed that an overwhelming majority of respondents, accounting for 90 per cent believe that media coverage about and from Africa has improved in the past five years in terms of quantity and quality.
“While everyone in this room will be happy to hear this, it is significant because of its impact on investment flows.
“ Sixty-five per cent of the private equity funds that we spoke with told us that lenders will only provide money to investment funds if they have received positive news about the country and industry in which the fund plans to invest,” said Dr Blazquez.
The Business Daily, shared the podium with other world renowned publications such as the Financial Times, Wall Street Journal, Reuters and The Economist, among others.
In the panel of judges were Ms Zeinab Badawi, a Sudan born international news broadcaster and presenter of BBC World News Today; Mr Stephen King, the chief executive of the BBC World Service Trust, the BBC’s arm for international development and Mr Louis Michel, a Belgian national who has served as the European Commissioner for Development and Humanitarian Aid, since November 2004.
Panel of judges
Others were Prof Wiseman Nkuhlu, the chairman of Pan-African Capital Holdings (Pty) Ltd, who also serves on the board of Old Mutual PLC, Kagiso Trust Investment and Virgin Atlantic South Africa; Alhaji Bamanga Tukur, a Nigerian national who chairs the Nepad Business Group; Paul Walsh, the chief executive of Diageo plc; Tim Sebastian an internationally renowned broadcaster and a two-time winner of the Royal Television Society’s “Interviewer of the Year” award and Shriti Vadera, the Minister for Business and Competitiveness in the Department for Business, Enterprise and Regulatory Reform in the UK.
Diageo Plc is the world’s leading beverage firm and produces brands across the spirits, wine and beer categories including Smirnoff, Guinness, Johnnie Walker, Baileys and Captain Morgan.
It has a controlling stake in East African Breweries Limited through its Diageo Africa subsidiary.