The Media Development and Diversity Agency (MDDA) officially launched the Economic Development Fund (EDF) Report, which sheds light on how funds collected through the Competition Commission were allocated to redress historical imbalances in South Africa’s media landscape. The launch event highlighted the EDF’s transformative impact on small and independent media entities and media students from disadvantaged backgrounds.
Established in 2017, the EDF emerged from a Competition Commission investigation into anti-competitive practices in the advertising and media sectors. The fund aimed to address the long-standing exclusion of black-owned, youth-led, and women-owned media businesses and promote equitable media representation.
Speaking at the launch, Deputy Minister in the Presidency, Kenny Morolong, emphasized the importance of economic fairness in the media space:
“Anti-competitive behaviour is a growing threat to media freedom. It restricts access to diverse perspectives and weakens the media’s role in holding power to account.”
The EDF provided financial support to over 37 black-owned SMMEs, of which 60% were youth-owned and more than half were women-owned, according to Karabo Motaung of the Competition Commission. Beneficiaries were required to have operated for at least two years, with turnovers between R500,000 and R5 million. Funding also extended to black students pursuing media, communications, and journalism studies across tertiary institutions.
The impact was evident in the testimonies of recipients such as Mpho Disemola of Cardinal Blakq Inc. and Suprise Sekgota of Touch SA Marketing Solutions. Sekgota noted:
“The fund has made a significant contribution to the operations of our business. We cannot thank the EDF enough.”
According to the final EDF report, funded projects led to increased employment opportunities, business growth, and improved sustainability among beneficiaries. The MDDA also noted that community radio stations experienced “meaningful economic and operational transformation,” with several initiatives showcasing long-term potential.
The MDDA has concluded the implementation phase of the EDF and encourages the public and stakeholders to review the full report, available on its website.
GET THE DOCUMENT HERE
Contact:
Ayabulela@mdda.org.za | 073 756 8461
Margaret@mdda.org.za | 082 785 6071
Website: www.mdda.org.za
Social media: @MDDA_Media (Twitter, Instagram), Facebook: MDDA
