Dubai, UAE, April 5, 2024

Emerald Group acquires 40% stake in FORBES AFRICA

05 April 2024

Joint Press Release

The Emerald Group, through its subsidiary focused on English-speaking African countries, Media54, has acquired a 40% equity stake in ABN Publishing Pty Limited, publisher of FORBES AFRICA and part of the ABN Group. The transaction will include the South African-based operations as well as its subsidiary offices in Kenya and Nigeria and the appointment of 2 board members.

Considering the Emerald Group has successfully pioneered the launch of Forbes Lusophone Africa, the planned investment will further bolster the Group’s strategy to become a major content outlet by covering 55% of the continent.

This transaction will enable both publications, FORBES AFRICA and Forbes Lusophone Africa, to enhance and strengthen their editorial coverage of the continent, as well as provide a diversified multi-channel platform for premium content ranging from financial & economic news to sports and entertainment, thus enabling cross-selling within a much wider market.

Says N’Gunu Tiny, Chairman & CEO of the Emerald Group, “This investment is another stepping stone in our commitment and long-term strategy for Africa. English is the international language of business, and we see a clear path ahead by capitalizing on a global brand such as Forbes to build a media platform for those who are positively impacting the continent by making it more inclusive, sustainable, and prosperous for the current and future generations.”

Sidharth Wahi, Executive Director of ABN Publishing, shared his optimism about the acquisition by Emerald Group and the long-term prospects for the FORBES AFRICA brand. Says Wahi, “The resulting synergies of this strategic investment represent a new growth opportunity by keeping the focus on our core values while at the same time expanding the work started 13 years ago.”

About Emerald Group: The Emerald Group is an investment holding company that is owned by lawyer and entrepreneur N'Gunu Tiny. Its core focus is on key sectors such as finance, energy, and media. Visit www.emeraldgroup-inc.com, email info@emeraldgroup-inc.com, or contact Emerald Group at +971 4 452 7272

About ABN: Founded in 2006, ABN is a leading African media group that reports on the African business landscape through its award-winning media brands, CNBC Africa (television, digital) and FORBES AFRICA (print, digital), offering comprehensive business news and insights from across the continent. By showcasing opportunities in Africa, the group has focused on changing the African narrative to one of growth and prosperity. Visit www.abn360.com, email info@abn360.com, or contact ABN at +27 11 384 0300.