· · recapitalisatisation of Printech Printing Company Limited in Tanzania; and establishment of a press maintenance project in Botswana. Achievements Samdef’s long-term general objective is to promote the development of media in southern Africa through the provision of financial services to independent media in a sustainable way. Since its inception, Samdef has provided long-term finance to independent private media businesses in 11 countries in the region, supporting over 25 projects. At the end of March 2009, the organisation had a gross investment fund of US$8 million in a portfolio that consisted of three main products of loans, guarantees and equity. Samdef has made tremendous strides in partnering with the private sector (including commercial banks) and development finance institutions to finance media in southern Africa. The fund’s measure of success does not only focus on the quantity of media enterprises assisted, but the quality and depth of the institution’s interventions and the impact they have had on the business and society it serves. Samdef’s approach to assisting entrepreneurs is multifaceted and, besides direct loan and equity injections, includes innovative national and regional initiatives and programmes. For example: I. The establishment of a web printing press maintenance and training centre in Gaborone, Botswana. This has seen effective and efficient commissioning of printing press maintenance across the region. The centre aims to provide continued training of printing operators in the different countries and the proper maintenance of printing presses. II. Samdef started a newsprint and print consumables procurement project with Tanzania, which will still be rolled out to the rest of the region. This initiative is meant to assist printing and publishing companies to reduce their costs of production of newsprint through economies of scale. III. In partnership with Rhodes University in South Africa, Samdef undertook research into the understanding and appropriation of the concept and technology of convergence by media houses in southern Africa. The results of the research gave insight into the understanding of and opportunities for convergence in some media organisations. The two institutions are moving forward to develop the capacity of entrepreneurs, publishers and editors in appreciating digital technologies and their place in media business models. In an effort to have a permanent, well-documented record of the wealth of experience amassed in the last decade, Samdef is in the process of compiling case studies from projects in its portfolio. The case studies will highlight the impact and lessons learned and will be useful study material that could be shared with universities and colleges. The case studies that are being complied will eventually be bound into a book for future reference. Annual Report 2009 41