Nation Media Group

Ticker code NMG Industry Consumer Services Nation Centre
Kimathi Street
P.O. Box 49010 - 00100 GPO
Nairobi, Kenya
ISIN KE0000000380 Sector Media
Initial Listing 2 November 2010 (ROTC) Financial Year End 31 December
Website www.nationmedia.com Results Released Half-yearly

About

Founded in 1959, the principal activities of the Nation Media Group are the publication, printing and distribution of newspapers and magazines, radio and television broadcasting and digital online products, in the East African countries of Kenya, Uganda, Rwanda and Tanzania. NMG is the largest independent media house in East and Central Africa and is listed on the Nairobi Stock Exchange, Dar es Salaam Stock Exchange, Uganda Securities Exchange and Rwanda Securities Exchange (RSE).

Auditors

PricewaterhouseCoopers CPA
PwC Tower
Waiyaki Way/Chiromo Road, Westlands
P.O. Box 43963 – 00100
Nairobi, Kenya

Secretary

James Kinyua
P.O. Box 49010 - 00100 GPO
Nairobi, Kenya

Advocates



Name Position
Wilfred Kiboro Chairman
Linus Gitahi Chief Executive Officer
Dennis Aluanga Director
Richard Dowden Director
Stephen Gitagama Group Finance Director
Lee Huebner Director
Yasmin Jetha Director
Njeri Karago Director
Simon Kagugube Director
James Montgomery Director
Olive Mugenda Director
Zuhura Muro Director
Francis Okomo Okello Director
Anwar Poonawala Director
Gerard Wilkinson Director
James Kinyua Group Company Secretary
Tom Mshindi Chief Operating Officer
Japhet Mucheke Group Financial Controller
Victor Ngei Managing Director Special Projects
Gabriel Chenge Group IT Director
Michael Ngugi Group Advertising Director
Gideon Aswani Group Head of Production
Philip Velese General Manager, Nation Holdings Rwanda Ltd.
Alex Aslimwe Managing Director, Monitor Publications Ltd.
David Kiambi Group HR Director
Elizabeth Kyengo General Manager, Group Procurement
Sam Mutetei General Manager, Sales and Distribution
Agastee Khante General Manager, Digital Division
Chrysantus Macheso Group Head of Audit
Tido Mhando Managing Director, Mwananchi Communications
Joseph Odindo Group Editorial Director
Manwa Magoma General Manager, Radio
Agnes Asiimwe-Kondo Managing Director, NTV (U)


Biographies
Wilfred Kiboro Holds a Bachelor of Science (Civil Engineering) from the University of Nairobi. He retired from NMG as the Group Chief Executive Officer on 31st October 2006 after working for the Company for thirteen years. He was appointed a non-executive director in December 2006 and was elected the Chairman of the Board in September 2009. He is a member of the Nominations Committee. Mr. Kiboro is the Chairman of Family Bank Limited and Wilfay Investments Limited, a family owned enterprise.
Linus Gitahi Holds an MBA from the United States International University and a Bachelor of Commerce (Accounting) from the University of Nairobi. He is a Fellow of the Kenya Institute of Management. He is the Group Chief Executive Officer and joined the board in December 2006. He previously worked as the Managing Director of Glaxosmithkline based in Nigeria. He is a director of the International Press Institute, the Africa Media Initiative, the Group’s subsidiary companies and PDM Holdings Limited, an associate Company. Mr. Gitahi was honored by the President and awarded the Moran of the Burning Spear (MBS).He is a member of the Nominations, the Editorial and the Strategic Planning Committees.
Dennis Aluanga Holds an MBA from the University of Edinburgh (United Kingdom) and is a Certified Public Accountant of Kenya. He was appointed to the board in March 2009.He is a Partner at Helios Investment Partners, an Africa focused private investment firm. He was previously the Chief Operating Officer at Industrial Promotion Services (East Africa) and has also worked at NMG as the Group Finance Director and the Chief Operating Officer. He is also a director of Equity Bank Limited and Vivo Energy Kenya Limited. Mr.Aluanga chairs the Finance and Audit Committee and is a member of the Editorial Committee.
Richard Dowden Holds a Bachelor of Arts (History) from London University (United Kingdom).He began his career in journalism as the Editor of the Catholic Herald in 1976, before joining The Times foreign desk in 1980 reporting from the Middle East and Africa.He joined The Independent in 1986 as the Africa Editor, moving to the Economist in 1995 as Africa Director until 2001.He was appointed the director of the Royal African Society in 2002. Mr. Dowden has produced several television documentaries on Africa which have been aired on the BBC and Channel 4 television stations in the UK and is the author of the book Africa: Altered States, Ordinary Miracles which was published in 2008. He joined the board in March 2010 and is a member of the Editorial and the Strategic Planning Committees.
Stephen Gitagama Holds an MBA and a Bachelor of Commerce (Accounting) from the University of Nairobi and is a Certified Public Accountant of Kenya. He is the Group Finance Director and was appointed to the Board in March 2008. He previously worked as a Finance Director with East African Breweries Limited. Mr. Gitagama is a director of the Group’s Subsidiary Companies and is a member of the Strategic Planning Committee.
Lee Huebner Holds a Ph.D and an MA from Harvard University and a BA from Northwestern University (USA) and is a Professor of the School of Media and Public Affairs at The George Washington University in Washington, D.C. (USA). He was formerly a professor at Northwestern University and has also served as the Chief Executive Officer of the International Herald Tribune in Paris for fourteen years. He joined the board in December 1995. Prof. Huebner is the Chairman of the Strategic Planning Committee and is a member of the Nominations Committee.
Yasmin Jetha Holds a Master of Science in Management Science from Imperial College (London) and a Bachelor of Science in Mathematics from London University (United Kingdom).She is a Fellow of the Chartered Institute of Management Accountants, was awarded an honorary Doctor of Laws degree by the University of Leicester (United Kingdom) in 2005. She is the Chief Information Officer at Bupa, a leading health care company and was previously the Chief Operating Officer at the Financial Times (United Kingdom). Dr. Jetha joined the board in September 2009 and is the Chairman of the Human Resources and Remuneration Committee and a member of the Strategic Planning Committee.
Njeri Karago Holds a Masters of Fine Arts Degree (Theatre, Film and Television) from the University of California and a Bachelor of Arts degree from Kenyatta University.She has over 20 years experience in professional film making, with emphasis on development and producing, and is recognised as a leader in the field of film production, having produced a number of high profile award winning films. She was appointed to the board in March 2013 and is a member of the Strategic Planning Committee.
Simon Kagugube Holds a Ph.D in International Humanitarian Law, a Doctor of Science of Law in Immigration, Refugees and Asylum Law and a Masters of Laws in Corporation Law, Taxation and International Trade Systems, all from Yale University (USA) and a Bachelor of Laws from Makerere University (Uganda).He is the Executive Director of Centenary Rural Development Bank Limited in Uganda. He joined the Board in September 2011 and is the Chairman of the Board of Monitor Publications Limited in Uganda.Dr. Kagugube is a member of the Finance and Audit Committee.
James Montgomery Holds a Bachelor of Arts in Politics and Philosophy (Hons) from the University of Durham (UK).He is the Controller, digital and technology, BBC Global News which provides international news features in 27 languages. He previously worked as an Assistant Editor for the Financial Times. Mr. Montgomery joined the Board in September 2012 and is a member of the Strategic Planning Committee.
Olive Mugenda Holds a Ph.D and an M.Sc in Family Studies, Education, Consumer Sciences and Research Methods from Iowa State University (USA), an MBA from the Eastern and Southern Africa Management Institute and a B.Ed from the University of Nairobi.She has been the Vice-Chancellor of Kenyatta University since 2006, where she has held various senior lecturing positions since 1984.Prof. Mugenda joined the board in September 2010 and is a member of the Editorial and the Human Resources and Remuneration Committees.
Zuhura Muro Holds a Bachelor of Arts and Social Sciences from the University of Dar es Salaam, Tanzania and a post graduate diploma in General Management.She was the head of Human Resources for Celtel Tanzania Limited (now trading as Airtel) from 2001 until May 2007, when she resigned to pursue personal business interests. She is the Chairwoman of Mwananchi Communications Limited, a director of KCB Tanzania Limited and the Managing Director of Kazi Services Limited all based in Tanzania. Mrs. Muro joined the board in September 2010 and is a member of the Human Resources and Remuneration Committee.
Francis Okomo Okello Holds a Bachelor of Laws Degree from the University of Dar es Salaam, Tanzania and is an Advocate of the High Court of Kenya, an Albert Parvin Fellow of Princeton University (USA) and the Woodrow Wilson School of Public and International Affairs (USA) as well as a Fellow of the Kenya Institute of Bankers (FKIB). He is the Executive Director in charge of Legal and Corporate Affairs at Industrial Promotion Services (East Africa) Group of Companies. He joined the board in December 1995. Mr. Okello is the Chairman of Barclays Bank of Kenya Limited and also TPS Eastern Africa Limited (Serena Group of hotels and lodges). Mr Okello is the Chairman of the Editorial Committee.
Anwar Poonawala Holds a Master of Science (Industrial Engineering) and an MBA from the University of Iowa (USA).He joined the board in June 1989. He has been associated with the Aga Khan Development Network for over thirty years and retired in 2006 as the director of Industrial Promotion Services based in Paris, France. Mr Poonawala is a director of AKFED. He is a member of the Finance and Audit, the Nominations and the Human Resources and Remuneration Committees.
Gerard Wilkinson Holds an MEcon.Sc and an MS and a BA, from Ireland and the United States of America. He lectured at the School of Business University College, Dublin, Ireland. He has served as a senior executive at Independent Newspapers, in Dublin, the Managing Director, Nation Newspapers in Kenya, Managing Director, ASPACOS, Consorzio Costa Smeralda, Sardinia, Italy and as the Head of Public Affairs at the Aga Khan Secretariat in Paris, France. He initially served on the board from September 1973 until 1980 and rejoined the board in April 1983. Mr. Wilkinson is the Chairman of the Nominations Committee and is a member of the Strategic Planning Committee.
James Kinyua (Group Company Secretary) holds a Bachelor of Laws (Hons.) from the University of Sheffield (United Kingdom) and a Bachelor of Arts (Political Science) from York University (Canada). He is an Advocate of the High Court of Kenya and is also a Certified Public Secretary of Kenya (CPS K) and a member of the Institute of Directors (Kenya). He is an alumni of the Cambridge University Advanced Leadership Programme. He was appointed the Company Secretary in July 1998 and is the head of the Legal and Administration department.He is a director of the Group’s subsidiary companies.
Tom Mshindi Mr. Mshindi, a media and communications expert has trained and worked as a journalist, a development communications specialist for the UN, and a senior media manager in Kenya and abroad with more than 20 years of experience. He worked for the Nation Media Group in Nairobi as a journalist, rose to become the managing editor of the Daily Nation, before joining UNICEF as an editor in New York. He then served as UNICEF’s chief of communication in its Nigeria programme; thereafter, he worked as the Chief Executive Officer of the Standard Media Group in Kenya, and later the Managing Director of Monitor Publications Ltd in Uganda (an NMG subsidiary). He is a graduate of the University of Nairobi School of Journalism, and has an AMP certificate from Strathmore Business School and another from IESE, New York.
Japhet Mucheke Mr. Mucheke joined Nation Media Group in 1997 from Deloitte & Touche. He has since then worked as the Group Chief Accountant and Group Internal Audit Manager before being promoted to Group Financial Controller in June 2008. Mr. Mucheke is a Certified Public Accountant of Kenya, a Certified SAP Consultant and holds a Bachelor of Commerce (Accounting) degree from the University of Nairobi and an MBA from the University of Leicester (UK).
Gabriel Chege Mr. Chege, MCSE, MCDBA, MCT, CCNA, Siemon CI, ITIL is the Group IT Director and holder of a Bachelor of Science degree in the Management of Information Systems. He joined the group in 2002 from PricewaterhouseCoopers (PwC); Global Technology Solutions (GTS) division and hasindustry experience spanning 15 years that has seen him work for a variety of companies within Eastern Africa ranging from Public companies to large private organisations.
Victor Ngei Mr. Ngei holds a Bachelor of Education from Kenyatta University, Kenya. He has served in senior management positions within the group, including being the Managing Director, Television. He served as the General Manager of NTV Uganda, the leading National TV network which is a subsidiary of the Group. Mr. Ngei currently serves as the Managing Director, Special Projects as well as the Group Head of Corporate Affairs. He is an alumnus of Harvard Business School, Program for Leadership Development and has attended various leadership and management courses in Kenya, Uganda and South Africa. He is involved in several community initiatives and serving on various boards as Chairman and in schools around the country.
Michael Ngugi Mr. Ngugi has been the Group Advertising Director since January 2009. He holds a BSc. degree from Jacksonville University, Florida, US and is an alumni of the Harvard Business School, General Management Programme. He has over 15 years’ experience in sales and general management in the telecommunications, FMCG and petroleum sectors. Mr. Ngugi has previously held senior positions within the advertising and circulation functions of the Group.
Gideon Aswani Mr. Aswani holds an MBA in Finance from the University of Leicester (UK) and a BSc from the University of Nairobi and is a qualified Mechanical Engineer. Mr. Aswani joined NMG as a mechanical engineer in 1995 having previously worked for Thomas De La Rue (K) Ltd and East African Breweries Ltd. He is the Chairman of the Kenya Association of Manufacturers, Machakos County Chapter.
Philip Velese Mr. Velese has over 15 years’ experience in Sales and Marketing and joined NMG in 1998.He has served as Regional Circulation Manager, Head of Nation Carriers division and as Commercial Manager for The EastAfrican. He holds a Bachelor of Arts degree from Kenyatta University and is currently pursuing an MBA in Marketing at the University of Nairobi. He also holds a diploma in Business Management from KIM and is Member of the Kenya Institute of Management (MKIM).
Alex Aslimwe Mr. Asiimwe has over 10 years’ experience in Sales and Marketing and joined NMG in 2001. He has served as an Advertising Manager at Monitor Publications Limited and later as a General Manager .He joined NMG Nairobi in 2009 as a General Manager, Commercials. Prior to joining NMG, he worked with Unilever as an Area Sales Manager from 1997 to 2001 and Tumpeco as a Sales Officer. He has a Bachelors degree in Commerce and a Masters in Business Administration from Makerere University Business School where he majored in Marketing. He has also attended various executive management courses on Media Management at Rhodes University of South Africa and a leadership management course from Henley UK. Mr. Asiimwe is a member of the World Association of Newspapers where he has attended several global media conferences.
David Kiambi Mr. Kiambi joined NMG in March 2014. He has over 13 years’ experience in HR leadership and management in the East African region gained mainly from the manufacturing and financial services sectors. Prior to joining NMG, Mr. Kiambi worked with NIC Bank Group as Director, Human Resources from 2006-2014. Before that, he worked with BAT from 1994-2005 in several capacities as the Group Human Resources Manager responsible for BAT Kenya, Uganda, Rwanda and the Horn of Africa. He was additionally the Head of HR for BAT Kenya, Factory Engineer and Manufacturing Manager. Mr. Kiambi holds a BSc degree in Mechanical Engineering, MBA-Employee Relations and professional certifications in various specialized areas in HR.
Elizabeth Kyengo Mrs. Kyengo holds an MBA in Strategic Management from the University of Nairobi, a Bachelor of Commerce (Accounting), is a Certified Public Accountant of Kenya (CPAK), a Certified International Procurement Profession (CIPP). She is a member of the Kenya Institute of Management (NKIM), ICPA (K), (KISM) and (IAPM). She joined the Group in April 1995 from Coopers and Lybrand where she worked as an Auditor. She has held various positions within the Group including Management Accountant for NCD and NBD, Procurement Manager, GM-Procurement before taking up her current Group role. She is a board member of Mumias Sugar Company Ltd and Mhasibu Runda Holdings Ltd.
Sam Mutetei Mr. Mutetei took up his current role in September 2009 from the Standard Group, having initially joined NMG in 1992. He has over 16 years experience in sales and distribution and has initiated changes in the Distribution Value Chain. He has benefitted from wide international exposure in distribution and logistics in Europe and in the USA. Mr. Mutetei is a Political Science graduate from the University of Nairobi, and holds a Higher Diploma in Business Management from KIM and an MBA in Strategic Management from Moi University.
Agastee Khante Mr. Khante joined NMG in June 2010. He holds a Masters Degree in Finance and Strategic Human Resources Management from the Oxford Brookes University and an Engineering degree from RVCE, Bangalore, India. He has over 10 years’ experience in Digital Marketing, Business Development and Product Management having previously worked in the digital divisions at Yahoo Jagran, Financial Times and The Times of India. At NMG, he is responsible for the Group Digital Strategy and Operations.
Chrysantus Macheso Mr. Macheso joined NMG in 2012 from the Nairobi Securities Exchange. He has previously worked with PricewaterhouseCoopers and CARE International. Mr. Macheso is a Certified Public Accountant of Kenya, a Certified Information Systems Auditor, a Certified Quality Assessor of the Institute of Internal Auditors and holds a Bachelor of Commerce degree from the University of Nairobi.
Tido Mhando Mr. Mhando is a career journalist with resounding experience in electronic media, working in Tanzania, Kenya and England where he was employed by the renowned BBC World Service for 20 years. Mr. Mhando has been a Media executive for the past 15 years, working as Head of the BBC Swahili Service, Director General of the Tanzania Broadcasting Corporation (TBC), and now the Managing Director of MCL.
Joseph Odindo Mr. Odindo is a career journalist and senior editor. He holds an MBA in Journalism from the University of Wales (UK) and BEd degree from the University of Nairobi. He is also a Harvard GMP Alumni and a Cambridge University, Wolfson College Press Fellow. He was appointed the Group Editorial Director in August 2009 having worked as a Managing Editor for various NMG Print products for 17 years.
Manwa Magoma Mr. Magoma joined NMG in November 2013 from Ogilvy & Mather East Africa (Kenya) where he served as the Managing Director. Prior to Ogilvy Kenya, Mr. Magoma worked with Ogilvy Tanzania as the General Manager and Saatchi & Saatchi (Rwanda) as the Managing Director and other organizations prior to joining Ogilvy Tanzania. Mr. Magoma has extensive experience in advertising, market research and PR gained through working in Kenya, Uganda, Rwanda and Tanzania. He has also worked in various roles in consumer research, advertising and communication in Kenya, Uganda, Rwanda and Tanzania.
Agnes Asiimwe-Kondo Mrs. Asiimwe-Konde has over 15 years’ experience in strategy development, brand management, sales planning and process implementation in FMCG companies. Prior to joining NTVU as Managing Director, Mrs. Asiimwe-Konde worked for Monitor Publications Limited in Kampala and Crown Beverages Ltd Uganda where she was awarded the highest market share award from PepsiCo International for Africa, the Middle East and Asia. She has been voted among the top 50 women in Uganda and top 10 corporate ladies for two years in a row. She is a girl-child mentor for Rising Star in Uganda. Mrs. Asiimwe-Konde holds an MBA from the University of Liverpool (UK) and is a Chartered Marketer with CIM (UK).

As at 31 December 2014
Principal Shareholders and Their Respective Shareholding
Name of Shareholder Shares Held Percentage
The Aga Khan Fund for Economic Development (AKFED) 84,198,343 44.66%
Alpine Investments Limited 19,136,566 10.15%
National Social Security Fund 6,479,843 3.44%
John Kibunga Kimani 2,906,233 1.54%
The Jubilee Insurance Company of Kenya Limited 2,009,707 1.07%
Standard Chartered Nominees A/c KE17984 1,711,014 0.91%
CFC Stanbic Nominees Ltd 1,520,465 0.81%
Kenya Reinsurance Corporation Ltd 958,320 0.51%
Standard Chartered Nominees A/c 9230 792,250 0.42%
Standard Chartered Nominees A/c 1256B 750,948 0.40%
Distribution of Shareholding
Number of Shares Number of Shareholders Number of Shares Held % of Shareholding
1 – 500 4,135 782,157 0.41%
501 – 5,000 4,374 9,077,650 4.81%
5,001 – 10,000 863 6,440,743 3.42%
10,001 – 100,000 943 24,481,914 12.98%
100,001 – 1,000,000 114 29,797,651 15.80%
Over 1,000,000 7 117,962,171 62.57%
Total 10,436 188,542,286 100.00%
Directors' Shareholding
Name Number of Shares Held % of Shareholding
Gerald Wilkinson 960 0.0005%
Yasmin Jetha 8,398 0.0045%
Stephen Gitagama 1,296 0.0007%
Linus Gitahi 52 0.0000%