Abuja, Nigeria (September 22, 2020) Premium Times and VOTAC (Voices of the African Continent) announce their strategic alliance for news coverage of African Capital Markets. With 29 stock exchanges representing 54 countries (markets), a $2.5 trillion of Nominal GDP (2019 estimates), economic growth stabilized at 3.4 percent in 2019 and expected to hit 3.9 percent in 2020 and 4.1 percent in 2021 (AfDB, 2020). It is no longer where Africa is now, but what it is becoming. By providing a global media platform, Premium Times and VOTAC will offer subject matter experts, industry and market analysts, commentators, investigative and financial news journalists with in-depth knowledge of Africa, guided by professional disciples.
Premium Times is an investigative journalism powerhouse, as evidenced by its coverage of Nigeria, Africa’s largest GDP, and numerous international awards. Premium Times’ website receives over 5 million unique visitors every month; and is often cited by news outlets on its reporting of events in Nigeria and Africa.
VOTAC is an Integrated Digital Media company, with offerings in Content, Exchange, and Experience. VOTAC will produce, in collaboration with Premium Times; ACM TODAY (African Capital Market). A financial news program, livestreamed from studios in San Francisco and Abuja. ACM TODAY will also be carried on U.S. cable networks reaching 33 million television households; and will be available on local television channels in these markets: Atlanta, Chicago, Dallas, Houston, Philadelphia, Los Angeles, and New York Tri-State Area (New York, New Jersey and Connecticut.).
ACM TODAY is designed to aid innovation, increase foreign direct investment, and economic mobility on the continent. The program will ensure transparency in market activities and data and ensure broadcast standards that consumers of financial news are accustomed to are maintained.
For more than a century, foreign direct investment (FDI) in Africa was almost exclusively focused on the extraction and export of natural resources. But since the turn of the millennium, the momentum has shifted. In the past few years, the trend has finally flipped. Global investors now come to Africa for the promise of its people than for its physical properties. Petroleum and mining now count for a minority of long-term capital inflows, with more investors focused on technology, telecommunications, retailing and services. The extractive industries have accounted for more than half of FDI just once in the past seven years. Africa’s labor force is projected to be nearly 40 percent larger by 2030. Africa’s infrastructure financing needs are estimated to be $130–$170 billion a year (EY, 2020).
“We are proud of our partnership with VOTAC. The African diaspora is going to play a critical role in Africa’s civil and economic transformation. Already, Nigeria’s diaspora remittances are the nation’s second largest source of foreign exchange. In addition to their resources, the diaspora bring their energy, experience, and networks; which combined with the local know how of domestic institutions is certain to create value on the continent. We already see these positive synergies in our partnership with VOTAC and its proprietor, Abraham Tuyo.” – Dapo Olorunyomi, Publisher, Premium Times
“In Premium Times we have a partner with deep roots and history in investigative journalistic excellence. We believe Africa and Africans need to take charge of news reporting economic activities on the continent; Global readership of Premium Times is proof that Africa and Africans produce news stories on par with the rest of the world. – Abraham O. Tuyo, Founder & Interim CEO, VOTAC