According to a media statement, SAPA is pursuing new funding structures so that it can “become a modern fully multimedia provider of news coverage of and to South Africa and the African Continent.” The most important element of the “revamp” would be the dissolution of the non-for-profit model in favour of a new commercial entity.
SAPA also announced that its shareholder base would be expanded after losing several members earlier this year. This new base would include “original member newspaper companies of the current Association, as well as investment and participation by other media-based companies.”
The press release also detailed a meeting held on 2 September in which new board members were elected, including Minette Ferreira, General Manager at Media24 News, as chairperson.
Regarding potential funding interest from Gallo Images, Sekunjalo Investment Holdings and KMM Review Publishers, SAPA’s release makes it clear that the news agency will not “be sold to the highest bidder.”