By Daniel Peters
An international magazine,
Southern African Times, has birthed in Nigeria to foster Africa’s Unity & Heritage and also expand operations to countries in the entire West Africa region.
The Chairman, Professor Williams Azuma Ijoma stated this in Abuja while addressing newsmen on the launch of the Southern African Times in Nigeria.
“The Southern African Times coming to Nigeria is strategic and marking a significant milestone in the publication’s seven-year history”.
He quoted the Editor at Large, Mercy Gilbert, who is facilitating the expansion project, as saying that it is to strengthen the publication’s presence in the West African media landscape.
“The project is being executed in partnership with Naijoinfo News and the Global Migration Research Institute (GMRI), under the leadership of Professor Ijoma, noting that the Southern African Times aims to tap into Nigeria’s vast and dynamic market of 218.5 million people.
“This venture aligns with the opportunities presented by the African Continental Free Trade Area (AfCFTA), promising substantial growth and development for Africa”.
“Our vision for Africa’s wealth is colossal as We believe in telling our own stories, our own way, and highlighting Africa’s rich culture”.
“Nigeria presents a great growth opportunity for the Southern African Times as we intend to spearhead our operations in the country and entire West Africa, so as to tap into a growing market.
Nigeria’s market revenue in the Newspapers & Magazines sector is forecasted to hit US$433.20 million by 2025, with an annual growth rate (CAGR 2024-2029) of 4.53%, leading to an estimated market volume of US$540.50 million by 2029″.
According to Professor Williams, “The digital segment is particularly promising, with the Digital Newspapers & Magazines market projected to reach a volume of US$258.20 million in 2025, while User penetration in this sector is expected to be at 13.8%, with the number of readers projected to reach 28.8 million users by 2029.
The average revenue per user (ARPU) is forecasted to be US$33.32million dollars.
“The Nigerian market, however, is experiencing a significant shift towards digital platforms due to increased internet penetration and changing reader preferences, making this an opportuned moment for the Southern African Times to expand its digital footprint.
“We are eager to tap into the vast potential of the African market and contribute to the region’s growth and development.”
He noted, “This expansion into Nigeria is not just a business move but a commitment to fostering African unity and showcasing the continent’s diverse heritage through quality journalism.
“Southern African Times is here to bring the best of West African nations to a global audience. We shall tell the West African story from a West African perspective, while evolving solutions to peculiar challenges being faced by other regions in Africa”, Professor Williams Ijoma concluded.
