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Workshop

SADC Journalists Report Money Matters

"Reporting National and International Economics"

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By Dean Mwaanga

Eighteen journalists from the Southern Africa Development Community (SADC) took part in “Reporting National and International Economics”, a course designed to educate scholars on matters that impact on the quality of life and pockets of African citizens.

Veteran business journalist and business executive, Chibamba Kanyama facilitated the course held in South Africa in May. He told scholars that media have the capacity to determine the economic agenda for any country. Chibamba said media are critical to educate and help citizens understand the changing economic climate. “A good press will actually re-orient people to existing alternatives to gainful employment and provide a platform for sharing views on economic issues in the region,” he said.

"Reporting Economics" was the first of six specialised training programmes to be organized by the Konrad Adenauer Stiftung and the Southern African Journalism Training Trust that will take place over three-years. Chibamba, introduced the scholars, some of whom had never written a business story before, to financial reporting. The syllabus taught learners how to cover companies, banking systems, stock markets, corruption, development, globalization and world trade, among others. Participants also learned how to understand and analyse government economic policy in relation to Gross Domestic Product (GDP) and its variables-government expenditure, consumption, private investment and trade.

News editor of the Weekly Guardian (Zambia) Zarina Geloo explained how the course helped her understand how income statements operate.

“I used to look only at the director or chairman’s report before without looking at the figures. It has also set my mind questioning financial news,” she said after the course. “ I now question the Bank of Zambia’s reasons for the appreciation of the Kwacha and I also question why we have a strong Kwacha but low interest rates do not apply. Before I would have just swallowed the hogwash that BOZ gave us but I am now able to ask for more definitive answers based on economic principles,” she said.

Regional coordinator for KAS Media in Sub-Saharan Africa, Jude Mathurine, explained that the programme aims to multi-specialise journalists in some of the niches or beats where contemporary African journalism is frequently found wanting. He said that this investment in training intends to empower reporters to be champions in their own newsroom and to deepen the quality of local reporting. Development of solidarity between nations' journalists offers a firm base for cross-border networking and cooperation between you as the future intellectuals and media leaders in the region. “Along the way, the scholars will be enriched through interaction with the culture, geography and characters that inhabit our corner of the world, Southern Africa,” he said.

Chibamba challenged journalists to expose corruption that stymies economic growth. He described corruption as a cancer that fights its way under any form of government. "Economic development depends on how economic resources are distributed in the most effective, efficient and transparent manner," he said. "This course is about sharpening your understanding about how an economy works in a pure market system free of distortions caused by corruption. When reporting your national economies, you will always need to refer to ideal economics and show policy makers how they could be digressing and diverting resources for private gain."

Scholars received first-hand information on how the stock markets are used as vehicles for privatisation, takeovers and mergers and acquisitions in sub-Saharan Africa during a visit to the Johannesburg Stock Exchange (JSE). At Standard Bank, Senior Economist, Robert Bunyi, demonstrated how governments manipulate economic growth through monetary policy using various macroeconomic variables like inflation, interest rates and exchange rates. The scope of the course also took in study tours to the Development Bank of South Africa (DBSA) and the offices of mining empire Anglo Gold Ashanti.

Organisers inform that the next course "Reporting National and International Politics" will held in either Swaziland or Botswana later this year.

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Johannesburg

Contact

Frank Windeck

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DigitalAkademie

Frank.Windeck@kas.de +49 2241 246-2314 +49 2241 246-54257
SADC-Journalisten trainieren Wirtschaftsberichterstattung