Pretax profit at Kenya's Nation Media Group fell 16.4 per cent to Sh1.6 billion ($15.83 million) in 2018, the company tweeted on Wednesday. Also impacted by discontinuation of government advertising business from July 2018 due to inordinate delays in settling outstanding debts," the company said. The other listed media house in Kenya is the Standard Group which is yet to release its full-year results. In December last year, ICT Cabinet Secretary Joe Mucheru said the debt to media houses by the government will be cleared "soon". The Government Advertising Agency owes media houses about Sh2.5 billion, a debt that accrued over the last three years.

Source: The Star April 17, 2019 07:30 UTC