New African business TV channel to launch
Johannesburg, South Africa

Business and financial news television network CNBC will launch an affiliate channel in Africa, CNBC said on Thursday.

In an agreement with Africa Business News, CNBC will launch the first regional business and financial TV news channel for sub-Saharan Africa, a statement from the company read.

CNBC president Mark Hoffman said this is an important development for the network in the region.

"We are the world leader in business news and financial information and our programming is trusted by business leaders and the financial community around the world.

"We are delighted that we will be able to bring global, real-time news and analysis to the region, which is growing in significance as a centre of business and commerce."

Africa Business News chairperson Zafar Siddiqi said the launch of the channel is a milestone in the African broadcast landscape.

By focusing on real-time regional business and financial news, combined with that from other regions around the world, our aim is to provide our viewers with independent news and analysis that will enable them to make informed decisions when doing business in Africa," Siddiqi said.

CNBC Africa will focus on Africa's markets and provide global business news from an African perspective, initially with six hours of dedicated African programming each weekday.

The channel will have business and financial news with commentary, CEO interviews, news analysis and live data.

It will carry CNBC's signature real-time share ticker of live stock-price data and incorporate live data from key African stock exchanges with data from all of the leading European bourses and from the United States and Asia, during their trading day.

The channel will broadcast free-to-air, 24 hours a day, and will also air programming from CNBC, CNBC Europe and CNBC Asia, and the business news programme Worldwide Exchange, which is tri-anchored in New York, London and Singapore.

CNBC Africa will be based in Johannesburg with correspondents reporting live from Nigeria, Kenya, Tanzania, Botswana and London. The channel is expected to launch programming in the first half of next year and will be available across Africa. -- Sapa