Nation Media Group CEO Linus Gitahi. Photo/FILE
By VICTOR JUMA
In Summary
- NMG and Bidco were among 16 companies on the continent picked by the World Economic Forum on Africa.
- WEF termed them as sub-Saharan Africa’s most dynamic and high-growth companies.
Nation Media Group
(NMG) has been named alongside edible oils manufacturer Bidco as one of
Africa’s most dynamic and fastest growing companies that have “clear
potential to become global economic leaders.”
NMG and Bidco were among 16 companies on the
continent picked by the World Economic Forum on Africa that opens
Wednesday in Abuja.
The selection panel focused on firms that have a
“track record (of) exceeding industry standards in revenue growth,
promotion of innovative business practices and demonstration of
leadership in corporate citizenship.”
Other companies named by the panel include South
African firms Capitec Bank Holdings, Webber Wentzel, KZN Oils and
Nigeria’s Nagode Group, Interswitch Limited and Seplat Petroleum
Development Company.
The WEF termed them as sub-Saharan Africa’s most dynamic and high-growth companies.
NMG is the largest media house in East and Central
Africa in terms of earnings, number of print publications and
readership broadcast outlets and digital platforms.
Bidco Oil on the other hand has grown to dominate the edible oils and soaps market, exporting products to many countries.
The Bidco co-founder and chief executive Vimal Shah is ranked among the wealthiest Kenyans.
NMG has more than 14 print, digital, and broadcast platforms in East Africa.
The media house is also a leading investor in the
regional market where it has spent billions of shillings in acquisitions
and greenfield ventures.
The company has been feted by publications such as
Forbes for its strong innovation track record, having introduced new
products that have gained traction in the market.
Some of the company’s innovative products include
digital platforms Twende Twende (a travel portal), N-Soko (a consumer
portal) and the Business Daily, Kenya’s premier business newspaper.
Besides the media products, NMG also introduced
NationHela, an international cash transfer service that can also be used
to make local payments.
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