NMG named in World Finance 100 list for 2019

Nation Centre, NMG head office in Nairobi. FILE PHOTO | NMG 

By BRIAN NGUGI
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Summary

• NMG joins top global brands including Apple, Nike, Carrefour, GlaxoSmithKline, Royal Dutch Shell, Samsung, Hitachi, Walmart, Zenith Bank, Novartis, Industrial and Commercial Bank of China, among others.
• The World Finance 100 celebrates firms that have “reached the pinnacle of achievement across a wide variety of fields of expertise, as well as organisations and individuals that lead the way in driving their industries forward”.

Listed Nation Media Group (NMG) has been named in the World Finance 100 list for 2019, joining top global brands including Apple, Nike, Carrefour, GlaxoSmithKline, Royal Dutch Shell, Samsung, Hitachi, Walmart, Zenith Bank, Novartis, Industrial and Commercial Bank of China, among others.

Published by the London-based World Media News, The World Finance 100 celebrates firms that have “reached the pinnacle of achievement across a wide variety of fields of expertise, as well as organisations and individuals that lead the way in driving their industries forward”.

Pan-African housing development financier, Shelter Afrique was also named in the list.

“The current stagnation places businesses in a predicament. They could invest now in an attempt to capture greater market share, or hold off in the hope that tomorrow will deliver a more supportive economic climate,” said the publication.

“Despite this uncertainty, some firms have pressed on, aware that standing still is rarely the right approach.

The organisations acknowledged by the World Finance 100 have been recognised for ability to lead their respective industries even in unfavourable conditions.”

Last year, NMG, which is listed on the Nairobi Securities Exchange, celebrated 60 years since establishment.

NMG board chairman Wilfred Kiboro last year said the firm will continue to invest in development of additional digital inventory to accelerate growth of new revenue streams to ride the wave of digital disruptions being experienced by print media platforms across the world.

“Profit is not what drives the Nation Media Group,” said Mr Kiboro. “Profit is important, but our values and our philosophy is that we need to serve the greater good of society. However, in carrying out our mission, we have to operate sustainably as shareholders expect a positive return on their investment.”

“Shelter Afrique is happy to have been nominated for advocating for and advancing the affordable housing agenda in Africa,” said Shelter Afrique CEO Andrew Chimphondah.

“We are also happy to be in the company of some great institutions. Our three strategic goals are to promote financial sustainability, enhance shareholder value and improve organisational performance.”

Shelter Afrique aims to approve funding worth $1 billion over the next five years for project financing, institutional lending and social housing, with an overarching ambition to provide decent and affordable housing in member States.