Manji buys Jambo Leo in big deal

Dar es Salaam. Quality Media Group Limited, a subsidiary of Quality Group Limited has acquired a local newspaper publisher at an undisclosed deal as the group ventures into the media industry.

Quality Media announced yesterday that it has taken over Jambo Concepts Tanzania Limited which publishes the daily newspaper Jambo Leo effective December 31, 2015 and the process would be concluded come February 1, 2016.

The company said in a statement that it intends to invest substantially in the media business by initially strengthening publication of the Jambo Leo daily Kiswahili newspaper and by the end of the first quarter of 2016 add other publications such as an English Daily newspaper and a weekly East African edition.

The firm also said it was looking forward to an ambitious and credible way of providing news to patrons by way of a national radio and TV Channel, and an online blog – all under the Jambo brand.

“Quality Media will be sufficiently capitalised to ensure the Jambo Media is a major player in the news industry, not only in Tanzania but in East Africa. The Group will ensure that there is independence and integrity in journalism to ensure credibility of information is not compromised in reporting,” said Mr Arif Sheikh, the Group chief executive officer.