Former President Uhuru Kenyatta has allegedly put up Media max for sale days after politicians allied to the Kenya Kwanza government slammed him over tax evasion.
Uhuru Kenyatta entered the media business as he sought a foothold in politics, where the media plays an important role. Given that the other mainstream media outlets are privately owned and frequently push commercial interests, the goal was to use Mediamax to drive his agenda.
Uhuru even expressed interest in acquiring Standard Group, which is owned by the Moi family, but his pursuit was thwarted due to the stringent conditions imposed.
Uhuru, who is no longer in politics, may wish to exit the media business, which has proven less profitable.
Mediamax owns and operates the People Daily newspaper, K24 and Kameme TV, as well as a number of radio stations, including Milele FM and Kameme FM.
Former President Uhuru Kenyatta’s family owns the majority of the company, which was built by acquiring various platforms.
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 would later become President.
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 evading tax.