KWASI TWUM

KWASI TWUM

$110 Million

CEO, MULTIMEDIA GROUP LIMITED

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Wealth: SELF MADE, MEDIA

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Education: UNIVERSITY OF GHANA, BACHELOR’S DEGREE, ECONOMICS,HARVARD UNIVERSITY, MASTER’S DEGREE, BUSINESS ADMINISTRATION

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Known For: JOY FM, MULTI TV

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OVERVIEW

Ghanaian media baron Kwasi Twum presides over the Multimedia Group best known for bringing the first privately owned radio broadcaster (Joy FM) into Ghana.

Multimedia Group is a media conglomerate in Ghana. It was established in 1994 and operates six major radio stations namely Joy FM, Adom FM, Asempa FM Hitz FM, all in Accra and Luv FM and Nhyira in Kumasi. The firm has a huge online presence with six news websites and a satellite television network (Multi TV).

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NET WORTH SUMMARY

Kwasi’s radio stations and TV stations reach an estimated 15 million people across Africa. After launching a new satellite TV called Multi TV in 2009, the satellite TV is reaching towards a 20 percent market share in Africa and is gradually increasing its viewership rate to 10 million viewers. Multi TV in Ghana is currently a major competitor to DSTV (the largest satellite TV provider in Africa) since it has adopted a strategy of being affordable and accessible to the masses who can’t afford the ever expensive DSTV. It therefore provides a better alternative for the soaring low and middle income earners in Africa. The company has sold over 5 million Digi box Satellites and is paving the way for free to air television.

Nonetheless, his fortune got a boost after Times Media acquired a 32.26% interest in Multimedia for $14.6 million. The South African Media giant operates a TV channel, Business Day, Newspapers, Financial Mail and Sunday Times and is listed on the Johannesburg Stock Exchange.

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Visibility Ratings: B