Journalists and editors who report on business in Africa are eligible to enter six categories, covering print, online, television and radio journalism.

Speaking at the launch, Dr Nick Blazquez, Managing Director, Diageo Africa, said, "Diageo established these awards in 2004 to recognise and reward the best in reporting on business in Africa. As the Commission for Africa identified, negative perceptions of Africa, combined with a shortfall in reliable information on the continent's business environment, are constraining Africa's ability to attract investment.

"Africa is currently experiencing its best economic performance in many years and flows of foreign direct investment to the continent are increasing. But they are still small - less than 3% of the global total and only 11% of $278 billion going to developing countries. More needs to be done to tell the positive stories coming from Africa and so encourage other potential investors."

Dr Blazquez was joined by Anver Versi, editor of African Business and winner of the Best Journalist Award in 2005. Mr Versi said, "Perhaps the most relevant area of African journalism today is business journalism. Few human activities are as dependent on information and analysis as business.

Without progress and growth in Africa's business culture, there will be no economic progress, and without economic progress, Africa's transformation will be stilted. The Diageo Africa Business Reporting Awards have not only stimulated interest in business journalism, they have also set high standards. These awards are, therefore, of immense value to Africa."

Winners of the six awards - for Best Published Feature, Best Television Feature, Best Radio Feature, Best Website, Best Publication and Best Journalist - will be announced at a gala ceremony in London on 29 June 2006. The closing date for entries is 31 May 2006.