A DRC bond issue four times oversubscribed, not because investors believed in the country but because the risk priced into it paid so well. A thousand people in the US and the UK who would buy a painting from Africa, but not a computer and not a medicine. And a bill, $4.2 billion, for what the world's coverage adds to the continent's cost of borrowing. In the second episode of Media in Africa, Georja Calvin-Smith talks with Moky Makura, Executive Director of Africa No Filter, the narrative-change organisation she has led since it launched six years ago, about what the story of a broken continent actually costs, and who benefits from keeping it in place.

Drawing on Africa No Filter's own research, from the Global Media Index to a study of stereotypes run with the University of Bath, Moky maps the landscape: why the risk premium survives even ...