PROMINENT Zimbabwean businessman and philantropist Edd Branson has acquired Fortune Africa Magazine, one of Africa’s leading media firms.
Sources told Southern Eye that the magazine, which focuses on economic and political issues across Africa, has satellite offices in 10 African countries, with its headquarters in Johannesburg, South Africa.
The magazine is also known for its insightful analysis and coverage of key issues impacting the continent.
“Following the acquisition, Fortune Africa Magazine will now fall under the Edd Branson Publishers investment portfolio and management,” the source said.
“Former Seychelles president James Alix Michel chairs the magazine’s board, indicating the high level influence and impact of the publication.”
Managing Editor Nick Wilson confirmed that the acquisition was finalised during a meeting in Sandton, Johannesburg, on Tuesday this week.
Wilson assured stakeholders that despite the change in ownership, job security remained a top priority under the new leadership.
“Branson’s team has expressed a commitment to retaining existing staff while hinting at strategic and editorial adjustments to enhance the magazine’s business approach,” Wilson said.
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However, it was also highlighted that the publication’s head office could be moved to Zimbabwe or Lusaka in Zambia as part of the new team’s strategy and vision.
Indications are that the publication’s substantial value is estimated at approximately R50 million, with an audience of over 100 million as verified by independent accounting firms verifying its relevance and reach.
With Branson at the helm, Fortune Africa Magazine is now poised to continue its legacy of fostering meaningful dialogue and thought-provoking content on critical socioeconomic matters.
