On Friday, 4 July, Diageo premium drinks company, announced the winners of the 2008 Diageo Africa Business Reporting Awards at a gala ceremony in London, attended by over 250 distinguished guests.

Now in their fifth anniversary year, the Diageo Africa Business Reporting Awards are recognised as the pre-eminent and most hotly contested awards for business journalism, which focuses on Africa, attracting contestants from around the globe. The number of journalists and media organisations competing for the Awards has increased each year, and this year was no exception, with over 450 entries recorded.

The 2008 winners are:

Best Published Feature

'The New Colonialists' - Alec Russell (Financial Times)

This feature by the FT’s Johannesburg bureau chief considers how Chinese expatriates and loans are rebuilding war-ravaged Angola in return for oil. The article explores whether China’s involvement could be considered a form of neo-colonialism or if it’s simply an investment opportunity.

The judges said,"China’s involvement in Africa is a significant story and Russell’s feature provides an excellent human insight into this phenomenon. Well researched, engaging and enlightening.”

Best Radio Feature

'Africalab' - Hugh Levinson (BBC Radio 4)

In this two-part series, Levinson speaks directly to experts and individual scientists about the role of science and technology in Africa’s development.

The judges said, "Stupendous. Levinson brings to light an important and yet under-covered subject in a way that allows the people involved to tell their own stories.”

Best Television Feature

'China in Congo' - Tim Whewell and Caroline Pare (BBC Newsnight)

In this production, the team gained full access to a major Chinese corporation, giving viewers an internal overview of the business and also details of the Congo-China “metals-for-roads” deal.

The judges said, "A very high quality production which asks all the right questions and clearly articulates the influence of China in Africa.”

Best Published Photograph

'The future is female' - Charlie Bibby (Financial Times)

Bibby’s photograph series features women and girls who are developing skills and beginning small business to work themselves out of poverty.

The judges said, "Amazing photos which bring the story to life – truly evocative.”

Media of the Year

Business Daily (Kenya) - Nation Media Group

Launched in March 2007, the Business Daily is a high quality daily paper that covers both local and international business news.

The judges said, "It’s fantastic to see a home grown African publication really standing out in an international forum. Informative, accessible and well written.”

Journalist of the Year

Tristan McConnell (Freelance)

Through a wide range of feature topics which include Ghana’s plastic fashion industry and the private sector’s role in solving the problems of Sierra Leone, McConnell, a freelance reporter based in West Africa, shows his keen interest in entrepreneurship. His passion for the region shines through.

The judges said, "McConnell’s work is outstanding and brave. It is accessible, well researched and shows an unyielding sense of adventure.”

Presenting the Awards, Dr Nick Blazquez, Managing Director of Diageo Africa, revealed findings from research that Diageo commissioned this year, examining the relationship between the media and investors. An overwhelming majority of respondents (90%) believe that media coverage about and from Africa has improved over the past five years, both in terms of quantity and quality. 65% of the private equity funds also believed that lenders will only provide money to investment funds if they have heard positive news about the country and industry in which the fund will be investing.

Dr Blazquez commented, "What is clear is that more and better business journalism is generating greater flows of investment to Africa, and more private sector development is leading to more business journalism. It’s a virtuous circle that eluded Africa for so long – but now it’s happening”

Winners received a bronze statue titled ‘News’ by the sculptor Loni Kreuder and a cheque for £500.

For more information, visit www.diageoafricabusinessreportingawards.com.