ABN Publishing has officially announced the launch of Forbes Africa, with its first edition scheduled to be on shelves in South Africa, Nigeria and Kenya from 1 October. The launch of Forbes Africa  is a derivative of the vision of the Founders of ABN Media Holdings, Zafar Siddiqi and Rakesh Wahi to build a multi-dimensional business media conglomerate in Africa.

Co-founder and publisher, Wahi, said on the occasion, “Our vision is to build Africa’s most comprehensive reservoir of business content and roll it through world class brands. The launch of CNBC Africa in 2007 saw the first part of the venture to cover the broadcast media. The natural progression is to print. There is no better global brand than Forbes and we value our partnership with the brand and the Forbes family. Forbes brings a different and unique perspective to business media reporting and encompasses both, the detail and the personality.”

“The launch of Forbes Africa brings a lot of operating synergies between CNBC Africa and Forbes Africa,” said Gary Alfonso, group managing director, ABN Media Holdings. Other than infrastructure, there are significant economies of scale in editorial and commercial opportunities and we are all excited about the opportunity.

“The launch follows a meticulous planning process which amongst other details reviewed the timing of the launch. The double dip recession has seen a collapse in the print media industry. However, we believe that the markets are beginning to recover and with our focus on business we believe that this is the right time to herald a new venture to take advantage of a market cycle that is on the up,” said Sidharth Wahi, project director.

Forbes is the world’s leading business media brand, reaching more than 4.3-million influential readers via publications in ten languages in more than 100 countries. Forbes Africa is its sixteenth local-language edition with English-language distribution in South Africa, Nigeria, and Kenya.

The magazine will feature editorial content from across the continent, as well as relevant content from its partners in the US. At the helm of this monthly publication is award-winning journalist, Chris Bishop, who takes on the role of managing editor.

Chris Bishop brings a wealth of experience to his role as managing editor and is responsible for its set up, launch and its ongoing operations. He has a detailed understanding of the business and economic news environment from around the continent and understands the broad vision and culture of the media holding company.

Bishop said: “I am very excited about this new and influential voice in Africa. There are truly great business stories in Africa stories and we will be telling them with all of the panache of the strong Forbes brand.”

It will be the continent’s first ever international business publication localised for the African executive.