Nation CEO dispels sale rumours

BY: www.nation.co.ke
Nation Media Group acting CEO Stephen Gitagama
Nation Media Group acting CEO Stephen Gitagama

Nation Media Group (NMG) has dispelled rumours being spread on social media that the company would be sold.

Speaking on Saturday at the Nation Golf Classic dinner held at the Nakuru Golf Club, NMG acting Chief Executive Officer Stephen Gitagama urged Kenyans to ignore the rumours.

"The rumour going round in the country is unfounded, this is not true," Mr Gitagama told the audience which included golfers, Nation clients and company staff.

Mr Gitagama said NMG is a public-listed company owned by Kenyans through shares.

“So, if you want to buy Nation shares, just walk to your stock broker and buy [your] shares of choice. But the company is not for sale,” he added.

Nation Media Group is the largest independent media house in East and Central Africa with operations in print, broadcast and digital media platforms which attract and serve millions of people in Kenya, Uganda, Tanzania and Rwanda.

Last week, the group’s Board Chairman Wilfred Kiboro reiterated the same message that the company is not for sale.

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"Some of you, may have read about this crazy thing about Nation Media Group being sold to the First Family," he said, referring to the family of President Uhuru Kenyatta.

"I want to confirm to everybody, NMG is not for sale. The only way to buy Nation Media is through the stock exchange."

During the recent visit to Kenya by His Highness The Aga Khan, there was heightened speculation that he would meet President Kenyatta to discuss, among other things, the sale of his media interests.

The Aga Khan is the principal shareholder of Nation Media Group. He also has other interests in the hospitality, banking and insurance sectors.