Nation Media Group PLC (NMG) is a purpose led organization that seeks to transform into Africa’s most trusted and innovative content platform. For the last 65 years, we have been guided by one philosophy - to be a voice for the voiceless in the society. Our mission to positively influence society has remained unchanged over the years. NMG was founded by His Highness the Aga Khan on the bedrock of a set of core values whose central theme was to promote independent voices, diversity and freedom of expression as enshrined in our editorial policy. From a small newspaper company, with only one title, Taifa, a Swahili publication, we have grown to become the largest multimedia house in East and Central Africa with operations in print, broadcast and digital media all of which attract and serve unparalleled audiences across the continent and the world.

In our strategic intent that focuses primarily on innovation and customer satisfaction, we continue to be guided and to stand by the values of truth, independence, fairness, balance and accuracy. We remain steadfast in the conviction of our goal to fundamentally improve the quality of people’s lives and to contribute to a sustainable world through our business. We will stay at the forefront, identifying and resolving the many issues critical to social transformation such as education, the environment and health.

Together with our stakeholders, customers, shareholders, supporters, and the communities we serve, we are committed to pursuing a strategy rooted in shared value. At NMG, we firmly believe that ideas are at the core of human progress, driving our pursuit of stated goals. With a legacy spanning over six decades, our dedication to delivering high-quality journalism remains unwavering. This commitment forms the bedrock of our philosophy as we strive to position ourselves as Africa’s foremost media outlet, dedicated to serving the continent by Africans, for Africans.

Download About NMGThe Company is committed to upholding the best international standards of good corporate governance. The role of the Board is to determine the Company’s policies and strategies, to monitor the attainment of the business objectives and to ensure that the Company meets its obligations to the shareholders. The directors are also responsible for overseeing the Group’s internal control systems. These controls are designed both to safeguard the Group’s assets and to ensure the reliability of the financial information used within the business.

which is responsible for executive and non-executive board appointments and for overseeing the Group’s adherence to good corporate governance principles. Mr. D. Aluanga chairs the committee which has Dr. W. D. Kiboro and Mr. S. Gitagama as members. The members of the Committee, with the exception of the Group Chief Executive Officer, are non-executive directors.

whose responsibility is to oversee the effective administration of the Group’s systems of internal controls, management of risk and compliance with applicable regulatory requirements as well as review of the Group’s financial plans and reports. Mr. L. Mususa chairs the committee which has Dr. Y. Jetha, Prof. S. Sejjaka and Mr. A. Ramji as members. The members of the committee are independent and non-executive directors.

which reviews the Group’s medium and long-term strategic options and investment proposals. Mr. S. Dunbar-Johnson chairs the committee. The committee has Dr. Y. Jetha, Mrs. S. Hassan, Mr. A. Ramji, Mr. S. Gitagama, Mr. D. Aluanga and Mr. R. Tobiko as members.

which considers and advises on the Group’s editorial policy, the journalistic code of ethics and legal responsibilities. Mr. F. O. Okello chairs the committee which has Mr. D. Aluanga, Mr. W. Mwangi, Mrs. S. Hassan and Mr. L. Otieno as members.

On behalf of the Board of Directors, it is my pleasure to present to you the Nation Media Group’s (‘the Group’) business performance for the year ending December 31, 2023 and the Group’s strategic direction going forward.

The global economy experienced a slowdown in 2023, with rising commodity prices, high inflation, tightening of global financial conditions, and geopolitical tensions in Europe, the Middle East and Africa. East Africa showed great economic resilience, with Africa Development Bank’s Economic Outlook indicating that the region was poised to register the highest economic growth performance on the continent in 2023 and 2024 at 5.1% and 5.8% respectively, driven by its services sector, renewed investor interest, infrastructure reforms, and growth in tourism numbers.

Tanzania’s GDP growth rate was expected to reach 5.1% in 2023 on the strength of post-pandemic gains, buoyed by International Monetary Fund (IMF) and World Bank-driven structural reforms to improve the economy, grow investments, and reduce the regulatory burden. Uganda’s economy also recovered from a sharp contraction occasioned by the Covid-19 pandemic that resulted in the country’s slowest growth in over three decades. The recovery was led by agriculture, with government’s commitment to industrialisation acting as a key enabler. Kenya registered a Gross Domestic Product (GDP) growth of 5.6% in the year.

Mr. Stephen Gitagama (57) 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 Chief Executive Officer and was appointed to the Board in March 2008. He previously worked as a Finance Director with East African Breweries Limited. Mr. Gitagama is an executive director, and director of the Group’s Subsidiary Companies and a member of the Strategy and Investments and the Nominations and Governance Committees.

**Introduction:**


In an era where global challenges demand corporate
responsibility, NMG is committed to driving positive change
through its Environmental, Social, and Governance (ESG)
practices.
Our ESG priorities are not just a checklist; they are the result
of materiality assessments that shape our overarching strategy
for sustainable and inclusive growth. These priorities are at the
core of our commitment to responsible business practices, and
serve as our guiding “North Star” for defining and executing our
ESG objectives.

The insights we gather inform every aspect of our
organisation’s
management. This, in turn, influences how we serve our
clients and directs our contributions to the environment
and communities. This focus ensures that our actions today,
positively impact both the environment and society for a better
tomorrow.

**Introduction:**


The newspaper has evolved beyond
paper. Readers can now access Daily
Nation and other publications through
nation.africa, reading the latest news
and features on a tablet or phone with
just a swipe or a tap.