Peter Whitehead

Media Development Investment Fund (MDIF), a New York-based not-for-profit investment fund, has sold its majority shareholding in South Africa’s Mail & Guardian to minority shareholder and former CEO Hoosain Karjieker and Director Thembisa Fakude. MDIF’s exiting of the Mail & Guardian ends its 22-year association with the company. “We are incredibly proud to have been an investor in the Mail & Guardian over the past two decades,” said Harlan Mandel, MDIF CEO.

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MDIF has launched MDIF Western Balkans Fund, a strategic initiative using investment and media advisory services to foster growth and resilience in independent media in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia. The Fund invests capital and management know-how ininnovative startups and growth media undergoing digital transformation, as well as seeking to protect independent media from capture.