South Africa-based TMG has announced it has accquired a 32.6 per cent stake in Ghana’s Multimedia Group, marking the start of its West African expansion
The media company, situated in Johannesburg, revealed that it has plans to use Ghana to expand into the West African region, which is home to more than 250mn people.
TMG stated that it has invested US$14.6mn in media companies across the African continent which offer strong growth potential.
“TMG’s strategy in Africa is to take strategic stakes in quality media companies, backing solid management teams who understand the environment and nuances of doing business in particular regions,” a company report read.
According to TMG, Ghana's Multimedia Group is "an attractive investment destination" where there are opportunities to invest in radio, television and the Internet.
TMG, which was set up in 1995, manages Ghana’s six radio stations, three online media sites, a multi-channel satellite television service and a marketing and events management business.
