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New Vision Printing and Publishing Company, a government-controlled entity, warned last week it will report yet another annual loss. The loss, for the year ending June 2025, is the third in a row. On the surface, this could pass for a broader media downturn – declining print revenues, slower advertising spends, and higher costs. But a closer look at the company’s financials reveals a story of misaligned credit models, underperforming assets, and internal control risks. These are quietly undermining the company’s resilience. The third year of red ink In a statement signed by CEO Don Wanyama, New Vision cited a…
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RK: The first question to you is, who is Mumba? How did you get here? MK: Thanks Robert and for giving context. My name is Mumba Kalifungwa, a Zambian national currently resident in Uganda. My father is Prof Patrick Kalifungwa, an academician and businessman and my mother is a lawyer. They work together, running a private family business. I am the firstborn in a family of four; 3 men and 1 lady. I am also a family man; I have been married for two years. Together we have 3 daughters and 1 son. At a personal level that is who…
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Senior Presidential Press Secretary Don Innocent Wanyama is the new Chief Executive Officer for Vision Group. Wanyama’s appointment was today announced by Patrick Ayota, the chairman of the Vision Group. Wanyama replaces Robert Kabushenga who resigned the position in January after 14 years with the Group. Kabushenga took over from William Pike in 2006. In a tweet, Kabushenga has congratulated Don saying: “Congratulations on getting one of the best jobs in Uganda. All the best.” Don Wanyama wields a wealth of experience in the newsroom, having started off at Daily Monitor where he rose to the position of Managing Editor…
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Robert Kabushenga, the outspoken Chief Executive Officer of Vision Group, Uganda’s largest media group has resigned. n an email to staff today, January 29, 2021, Kabushenga said that he had asked the board and the board had agreed to his exit. “This is to let you know that for personal reasons I have asked the Board for an early retirement and this has been accepted. “I am proud of the success we achieved and the impact we have had in society. This was possible because we worked together as a team. For me, it was an absolute honor and pleasure…
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Despite an increase in administrative and operating costs, the New Vision Printing and Publishing Company Limited has realized a profit after profit of UGX 2.7 billion for the year ending June 2020, up from UGX2.1 billion in 2019. The Company registered a turnover of UGX91.8 billion in 2020 compared to UGX90.2 billion in 2019. Total revenue grew by 1.8%. The company recorded a gross profit of UGX24.3 billion in 2020 compared to UGX21.8 billion in 2019 while profit before taxation was UGX4.9 billion in 2020 compared to UGX3.9 billion in 2019. Cost of sales decreased by 1.2%. The decrease was…
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“When you are faced by a prospect of famine, your first impulse should not be to go after the only planting seeds you have kept in your granary for the next planting season. That would be a strategically wrong move.” That is how Richard Byarugaba, the National Social Security Fund (NSSF) Managing Director, summarises the calls by some members of the public to be allowed to access part of their NSSF savings- to defend themselves against the potential negative impacts of Covid-19 on both the economy, especially their personal economy. Opposition stalwart, Dr. Kizza Besigye sparked off this debate about…
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Dr. Jane Ruth Aceng, the Ugandan Minister of Health, has appointed a number of prominent business leaders to spearhead a private sector response against the Coronavirus Disease (COVID-19). Details of their terms of reference are not yet clear, but the leaders who have been chosen to reflect the respective industries where they work, we understand are supposed to among others help coordinate resource mobilisation and awareness and sharing of information amongst other roles. The leaders are Barbara Mulwana (Chairman, UMA), Aga Sekalala (Ugachic), Robert Kabushenga (Vision Group) and Daniel Kalinaki (Nation Media Group). The others are Ramathan Ggoobi (Makerere University…
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Despite a general decline in advertising spend on traditional media, Vision Group’s Kabushenga has managed to grow advertising revenue by 11.28%. How much more can he sustain this growth as more and more readers and advertisers alike shift to digital platforms?
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10 years from now, in 2029 there will be no newspaper in Uganda left- unless of course the government decides to prop up The New Vision, with subsidies, mainly for…
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