Africa loses $4.2 billion a year due to 'bad' information in Western media

(Source: africapractice)

A study published on October 10 shows that negative reporting on African issues by foreign media, especially Western ones, is costing the continent's economy about $4.2 billion a year, equivalent to 0.14% of Africa's GDP.

According to a VNA correspondent in South Africa, research by strategic consulting firm Africa Practice and lobby group Africa No Filter blames the stereotypical portrayal of Africa by Western media for eroding investors' confidence in the continent and stifling growth there.

Titled “The Cost of Media Stereotypes for Africa,” the study focuses on information about electoral processes in Kenya, Nigeria, South Africa and Egypt as well as biased coverage from major media outlets in the Global North.

African countries receive more media attention during elections, but Western media coverage focuses overwhelmingly on negative issues such as violence and electoral fraud, the study said.

On the contrary, they tended to carry more positive information in countries outside Africa during the election campaign. For example, 88% of media posts about Kenya during the voting period were negative and sensational.

According to research, optimistic information in the media can help reduce borrowing rates on the continent by up to 1%, boosting macroeconomic stability and investor confidence.

If it weren't for the $4.2 billion lost annually due to negative coverage in foreign media, that money could have been used to fund the education of 12 million African children and provide vaccines to more than 73 million people.

Africa Practice CEO Marcus Courage said promoting fairer, more objective and positive reporting on Africa would boost the continent's credit rating and attract foreign direct investment into key sectors such as tourism , manufacturing and financial services.

Meanwhile, Africa No Filter CEO Moky Makura said that as Africa considers establishing its own credit rating agency, governments should spread positive information such as sustainable growth, innovation efforts or the benefits of a young population./.

Source: https://www.vietnamplus.vn/chau-phi-mat-42-ty-usd-moi-nam-do-thong-tin-xau-tren-truyen-thong-phuong-tay-post982712.vnp