MONEYWEB: First a disclaimer. Last night we proudly told you that we are going to partnering with CNBC Africa - and also good to have on this programme tonight, one night before the big launch, the chairman of CNBC Africa, Zafar Siddiqi, who joins us now on the line. Zafar when you go back a little, perhaps just for people to understand, I think Channel 54, where CNBC Europe is at the moment being distributed to this country, is well known. What relationship is there between CNBC Africa and Europe and perhaps even the American brand?

ZAFAR SIDDIQI: We are a full affiliate under a franchise agreement with CNBC International, so in the relationship between all the CNBC networks I also am responsible for the Middle East network, CNBC Arabia, and CNBC Pakistan, and our relationship is very strong.

MONEYWEB: So theoretically you could then run, theoretically, the American programming all day, if you like.

ZAFAR SIDDIQI: Yes, we could. But in our programming grid for CNBC Africa we have the best of the best. We will be a 24-hour financial channel which brings in business news from the whole of Africa - and Europe, Asia and the United States.

MONEYWEB: When you have a look at the way that things have gone in the Middle East and in Pakistan, your other two franchises, is there a model that you're going to be able to implement into South Africa?

ZAFAR SIDDIQI: Absolutely. You know, when we first started - and, by the way, we were the first ones to launch a business channel in the Middle East, covering the 19 countries in that region - the issues that came up and the experience that we had by launching CNBC Arabia has been very beneficial, and people just said, well, is there need for a 24-hour business channel which just takes Arabic stock markets and news from Arabia? And I feel the time has come for Africa with its growing economy, with its growing markets, to have a 24/7 business channel. And the technology that we are bringing in is the same as you would find in CNBC Europe, or in the United States or elsewhere. If you were to take, for example, we would be the first TV station here in Africa to launch a video wall. We are very excited about it. We will be the first financial channel, I think, which brings in a bit of current affairs programming in the evening and mix. We've got interactive programming, as well,  where the public will be involved with their day-to-day issues in our evening roundup.

MONEYWEB: How well have the Arabia and Pakistan channels worked. Are they profitable?

ZAFAR SIDDIQI: Of course they are. Normally in business channels you find the gestation period in any media company is three to four years. But we are now profitable in both the places, and we expect Africa to follow a similar pattern.

MONEYWEB: And if you look at the advertising market, how does it compare, Africa - and I suppose here you've got to really look at South Africa - with those that you've launched before?

ZAFAR SIDDIQI: The Africa market, the television advertising market, is larger than the Middle East.

MONEYWEB: OK, so you are looking at a position here where things do seem to be falling into place. What kind of investment, though, was required?

ZAFAR SIDDIQI: $25m.

MONEYWEB: $25m. Has that all come from the Middle East?

ZAFAR SIDDIQI: No, our local partner is IDC.

MONEYWEB: And what percentage share has the IDC taken in CNBC Africa?

ZAFAR SIDDIQI: I think it's 28%. I may be off with a percentage here or there.

MONEYWEB: So the balance of the $25m came then as a foreign investment into South Africa?

ZAFAR SIDDIQI: Into the country, yes.

MONEYWEB: So the record of foreign media player in South Africa has been mixed. The Independent Group from Ireland came and have really used a newspaper that they bought here as a cash cow. And ThisDay came in from Nigeria and unfortunately was not successful. What makes you feel that CNBC Africa will be a successful venture?

ZAFAR SIDDIQI: A, because, other than being a watershed event in broadcasting, just bringing the whole region together in live broadcasting, with [indistinct] right across Africa, with live business information and news coming in - something that has actually not been tried in South Africa before. And really at the end of the day obviously it's the viewing public which decides, and your content obviously will determine whether you're a success or a failure. But our early indications are extremely positive, and I am very pleased about it.

MONEYWEB: Zafar, what about the criticism that has been whispered that you're going to be very kind and very nice to governments on this continent because of their support.

ZAFAR SIDDIQI: Look, you know, I would answer that question very directly and transparently - and that is that CNBC editorial policy is not determined by governments in any country or region. And hence we, the channel, its editorial policy would be balanced, and that is all I can say.

MONEYWEB: And the fact that there is already a player in this market in Summit TV?

ZAFAR SIDDIQI: Well I think it's good. I think it's very good. And I think that with Summit TV at least people have a comparison. And competition is really good. For example, when I set up CNBC Arabia we had no competition, and now we have competition from about seven business channels - and obviously because of the rising oil prices, the stock market, the real estate boom in the Middle East, and it has helped us to improve ourselves. So I am a great believer that competition is good.

MONEYWEB: Zafar Siddiqi, the chairman of CNBC Africa. As I said earlier the disclaimer - Moneyweb is a partner and a very proud partner in this programme, and clearly we would like to see it succeed.

ABOUT THE INTERVIEWER