A former Executive Director of the Media Foundation for West Africa (MFWA), has blamed the recent job losses in the media on the saturated media landscape.
Professor Kwame Karikari also blames the indiscretion on the part of National Communication Authority (NCA) in issuing licenses to these media houses as part of the problem.
“What we are witnessing was bound to happen in the sense that this economy is not in a situation to contain so many media outlets.
“I also think it is because the NCA dished out licenses left and right and we are having an avalanche of media outlets which are now facing the dynamic of competition in a small market for media.
According to him, the Ghanaian economy at the moment is also making it difficult for some of the media houses to thrive.
He believes the nature of an industry which is both capital and labour intensive has taken its toll on investors.
The Communication experts comment comes in the wake of hundreds of media layoffs in recent time.
The real effect of the banking crises is beginning to manifest as Companies that until recently were providing various services to some of these banks are beginning to downsize in order to stay in business.
Some staffs of top companies including a subsidiary of the now defunct uniBank are demanding the payment of their August salaries in addition to their severance packages.
Also, some workers of Consolidated Bank Ghana, GN media, TV Africa and EIB among others are all laying off some workers while salaries remain unpaid for days, weeks and months.
Commenting on the phenomenon, Prof Karikari said, “the general tendency is that there has been so much growth in the media space in a short time within an economy that is unable to contain such growth in one industry.”