Nation Media Group (NMG) has posted a net loss of Ksh357 million for the first half of 2026 from a turnover of Ksh2.8 billion, a sharp drop from Ksh41.7 million net loss reported in the first half of 2025. According to the latest published financial results, the loss for the half-year widened in the face of increased operational costs, spelling another dry run for shareholders as the board has not recommended payment of dividend.
The loss sets NMG, Kenya’s leading media company, for a fourth consecutive full-year loss. In 2025, NMG saw its net loss increase to KSh308.6 million as traditional media businesses continued to bear the brunt of a rapidly changing digital landscape. In the half-year 2026, the management says Nation Media Group operated in a challenging macroeconomic environment during the first half, characterized by subdued consumer spending across most sectors and sustained inflationary pressure.
As a result, the group turnover declined 4.8% to Ksh2.8 billion, from Ksh2.9 billion the same period last year, mainly attributable to lower print revenues. “The decline was partially offset by increase in broadcasting revenue (3.0%) attributable to stronger content and wider audience reach, and increase in digital subscription revenue (4.0%), compared to same period last year,” NMG said through its company secretary, Ms Angela Namwakira.
This is the first set of financial results since the compony was in March 2026 acquired by Rostam Azizi, a Tanzanian tycoon, in a transaction that saw Aga Khan Fund for Economic Development S.A (AKFED) sell its entire 100% shareholding in the media house to Taarifa Limited.
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Meanwhile, NMG’s operating loss for the half-year period has largely been attributable to increased provisions for uncollected debts, principally relating to delayed settlement of amounts due from government entities, and the adverse impact of rising fuel costs on business operations.
Interest income also declined against same period last year in line with prevailing interest rate reduction. “During the period, the Group consolidated its digital offering into a single, all-in-one subscription, resulting in simplified customer journey across our content platforms and accelerated uptake of the newly launched NationApp, a key pillar of our audience recruitment and engagement strategy,” says Ms Namwakira.
She said the Group remains focused on accelerating its pivot towards a sustainable digital business anchored on audience revenue and strategic business-to-business partnerships.
“Similarly, NMG will continue to optimise the growth headroom in broadcasting, thought leadership, and experiential events, while maintaining strong presence in commercially viable print media,” she said. “The Group will, therefore, continue to invest in unified technology to enhance customer experience, expand digital offerings and accelerate monetisation to create long-term value for the shareholder,” she said.
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