When Headlines Hurt: Africa’s Image And Investment

Cast your mind back to the perspectives you held about things, places, or people when you were younger. Where did they come from? In some cases, direct experiences with certain contexts created a framework of thought about them, but in others, words from trusted figures in our lives helped to cement those ideas in our minds. As a result, many go through life holding onto those thinking patterns without knowing or having the tools to challenge their origins and validity.

The media has a similar effect on the mind, shaping narratives that control how people make sense of their environment. When Rwanda is called the “Singapore of Africa” or Africa’s tech ecosystem is dubbed “Africa’s Silicon Valley,” it implies that African successes are only valid when measured against Western benchmarks.

The international media’s coverage of Africa has been called to account over the years, particularly its emphasis on telling a biased, singular narrative of corruption, decay, and widespread deterioration of the continent.

What is the impact of one-sided reporting of Africa? When there is a disproportionate media emphasis on political instability, violence (especially during elections), corruption, and natural disasters, it perpetuates the idea that investing in Africa is risky and offers a lower Return on Investment (ROI) for investors. According to the report Cost of Media Stereotypes by Africa Practice and Africa No Filter, the continent loses up to $5.3 billion annually in investment flows due to negative stereotypes that dominate international media coverage of Africa.

On the flip side, Africa consequently bears the brunt of a higher cost of capital, coupled with onerous screening processes, in a bid to mitigate perceived risk. The discordance here is that Africa has the lowest infrastructure loan default rate of 1.9 per cent, compared to between 4.6 and 12.4 per cent in other regions globally, according to Moody’s Analytics.

While stories that spotlight Africa’s challenges and gaps in leadership are required to create awareness and trigger solution-building, a balanced narrative is required to provide a holistic view of the continent.

Africa has the requisite building blocks to materialise an unexpected twist in the prevailing tale, and it is important that public awareness is accordingly built around them. The continent has the most youthful population in the world (with a median age of 19), technological developments, naturally occurring energy sources, and more. While the mitigation of Africa’s challenges is underway, the opportunity for economic transformation is an equally important emerging narrative to be built.

Africa hosts some of the most innovative companies solving challenges such as climate change, financial inclusion, and social impact. However, they often lack access to funding and partnership opportunities that would grow their ventures. Potential investors, in some cases, shy away from the continent due to negative media perceptions or are simply unaware of the breadth of opportunities available. The question then becomes: How do we intentionally propagate more stories on individuals and companies that are exceeding expectations and having a notable impact on diverse audiences?

As an example, Kenya’s geological advantages and abundant low-carbon energy sources make it a promising location for large-scale Direct Air Capture (DAC) deployment. The deployment of the continent’s first DAC storage plant is underway in Naivasha, Kenya. DAC technology removes carbon dioxide (CO₂) directly from the atmosphere, helping to mitigate climate change by reducing excess CO₂ levels.

South of the continent, Namibia is gearing up to start green hydrogen production, a first on the continent. Recognising the dual need for industrialisation and job creation, energy initiatives such as this are instrumental in addressing the country’s 37 per cent unemployment rate while contributing to global decarbonisation efforts.

The media’s role is not just to inform; it is to frame. Positive and balanced reporting on Africa can help unlock investment flows that boost local enterprise and drive economic growth.

It’s time to challenge the long-standing negative narratives often associated with Africa and call for a more balanced view. More importantly, Africa now has the opportunity to take control of its own story, shaping what the world remembers and tells.

Bilha Ndirangu, CEO Great Carbon Valley and Co-Founder, Jacob’s Ladder Africa