NMG Board Appoints Former CEO as Independent Director

Former Nation Media Group (NMG) CEO Joe Muganda has returned to the leading media house in a different capacity: as a director. The Board of Directors of Nation Media Group has announced the appointment of Joe Muganda as an Independent Non-Executive Director, effective November 1, 2024.

NMG Company Secretary, Ms Angela Namwakira, in a communication to the Nairobi Securities Exchange, says Mr Muganda is an accomplished business leader with “an illustrious career and vast experience gathered from over three decades of service in several multinational corporations across Africa and the UK.”

 His previous roles include top leadership positions at VIVO Energy Kenya (Shell Licensee), Kenya Breweries Limited and British American Tobacco, all market leaders in their respective sectors.

He also served in the position of Group Chief Executive Officer at Nation Media Group between 2015 and 2018, leaving in January 2018 to become Vivo Energy Managing Director.  Then Group Finance Director Stephen Gitagama took over as CEO in acting capacity and was later confirmed to the position until he, too, exited, this year.

Mr Muganda is said to have presided over a business re-engineering strategy to position the company firmly on a digital growth path. As NMG CEO, Muganda presided over a radical restructuring that saw the closure of three radio stations -Nation FM and QFM in Kenya, Rwanda’s KFM – and hybrid television channel, QTV resulting in the redundancy of over 100 journalists.

His latest experience in the banking and oil industries is expected to combine well with his knowledge of media operations as he rejoins the NMG board.

Mr Muganda holds an MBA from the University of Leicester and a B.Sc. in Accounting and Financial Management from the University of Buckingham. He currently chairs the Board of Stanbic Bank Kenya in addition to serving on several other boards.

“The Board congratulates Mr Muganda on his appointment and wishes him success in this role,” says Ms Namwakira.

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