Uhuru Kenyatta puts up Media Max for sale amid tax evasion claims
Uhuru Kenyatta puts up Media Max for sale after Ruto allied politicians slammed him over tax evasion
Uhuru Kenyatta puts up Media Max for sale after Ruto allied politicians slammed him over tax evasion.
Days after being chastised for tax cheating by MPs associated with the Kenya Kwanza government, former president Uhuru Kenyatta is allegedly said to have listed Media Max for sale.
Uhuru Kenyatta entered the media business as he sought a foothold in politics, where the media plays an important role.
The idea was to use Mediamax to advance his agenda as the other major media sources are privately owned and frequently promote business interests.
Even Standard Group, which is owned by the Moi family, was mentioned as a potential acquisition target by Uhuru, but his efforts were blocked by the strict restrictions put in place.
Uhuru, who is no longer involved in politics, may want to leave the media industry as it turned out to be less lucrative.
The People Daily newspaper, K24 and Kameme TV, as well as a variety of radio stations, notably Milele FM and Kameme FM, are all owned and operated by Mediamax.
The majority of the business, which was developed by acquiring different platforms, is owned by the family of former president Uhuru Kenyatta.
The People Daily newspaper was purchased from the family of the late Kenneth Matiba, while K24 and Kamame were purchased from entrepreneur Rose Kimotho.
The company then purchased a number of radio stations, including Imo FM, which was founded by then-Deputy President William Ruto, who is now the President.
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According to reports, Ruto’s stake in Mediamax was bought out after he clashed with President Uhuru Kenyatta, who was the majority shareholder.
It’s unclear who might be interested in buying Mediamax, especially given its struggling newspaper and television businesses.
The sale comes at a time when the former President and his family are being accused of tax evasion by the current administration of President Ruto.
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