Senegal’s Futurs Médias Group (GFM), founded by singer and businessman Youssou Ndour, has unveiled a sweeping restructuring plan after acknowledging mounting economic and financial difficulties threatening the survival of the company.
In a public memorandum, GFM admitted it is facing an “unprecedented” crisis, citing a combination of declining advertising revenue, falling print circulation, rising operational costs, tax adjustments, and unpaid debts.
These pressures have resulted in a spiral of deficits, causing salary delays and arrears for the group’s hundreds of employees.
Founded in 2003, GFM encompasses several major media outlets, including Tfm, Rfm, L’Observateur, and multiple digital platforms.
While day-to-day operations are managed by professional teams, the group remains closely associated with Ndour’s public image, blending the reputation of the artist with that of a media entrepreneur.
Faced with the scale of the crisis, management said two options were considered: “disappear” or restructure.
The group opted for the latter, adopting a plan that includes job cuts, salary reductions, and organizational reforms aimed at restoring financial stability.
Officials stressed that the measures are intended to secure business continuity and preserve GFM’s position as a benchmark in the Senegalese media landscape.
“This is a radical choice, but necessary to ensure the sustainability of the group,” a GFM spokesperson said.
The crisis at GFM reflects broader challenges facing Senegal’s private press, where shrinking markets and growing competition from digital platforms have intensified financial pressures.
Observers suggest that the situation could spark wider debates about the conditions necessary for private media survival in the country, with some calling for stronger state support and more effective regulation of the advertising market.
GFM confirmed that the restructuring plan will be implemented gradually over the coming months, signalling a determined effort to stabilise the group while maintaining its editorial and digital presence.
About The Author
