Kenya’s largest media house, Nation Media Group, has announced a loss of KSh 205.7 million in the full year 2023, from KSh 318.5 million profit in 2022.
“As we embark on our Digital Northstar journey, a decision was made to impair the printing press in Kenya, resulting in an impairment charge of KSh 291.4mn. Consequent to the above factors, the Group posted a loss before tax of KSh 431.8mn for the year,” Angela Namwakira Nation Media Group Secretary, said.
The second Share Buyback offer, where the company intends to buy back 19.03mn shares, opened on 3rd July, 2023. So far, the company has bought back 14.3mn shares.