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KA-INVESTOR

• January 29, 2009
• Radio Africa Holdings IPO

  Posted: January 29th, 2009, 1:08am CST

  Radio Africa the holding company to several Kenyan fm radio stations is seeking to have its IPO on the NSE this year to finance its expansion plan. The Group owns Classic 105, Kiss 100, East Fm - 106 fm (for the Asian community) and an additional three new radio stations namely Jambo Fm, X FM and Smooth Fm. The targeted amount for the IPO has not yet been disclose ( to be up dated).
  
  The group also publishes the daily newspaper, Nairobi Star (I call it the gossip paper). The Nairobi Star, which acquired its own printing press, is set to expand to the rest of the country in the course of the year. Before acquiring the print press the paper was being printed by Nation Media Group printers. The paper does not separate its employees between radio and newspaper, with most of its radios presenters doubling up as its columnists e.g. Caroline Mutoko’s Monday column where she says whatever she likes. The paper also employs other renowned personalities as their columnists’ e.g. Aly khan Satchu’s (Stocks – Star Portfolio) and Tajudeen’s - Bio (Commentaries).
  
  Initially the paper got some very harsh reviews but over time it has managed to prove that it's a champion in solid grapevines. On lauching the paper sold over 50'000 copies in a day but its has since dropped. Competition from Nation Media's Metro did not manage to dumpen demand by its target market of between 18 to 35 years olds.
  
  Radio Africa Holdings IPO would bring the number of listed media firms on the NSE to three, after Nation Media Group and Standard Group. Surprisingly, neither the Group nor its subsidiaries (fm radio’s and newspaper) websites are up and running. Something, I think, they should act on before going into an IPO.