The ongoing financial crisis at Standard Group, one of Kenya’s leading media companies, has taken a further toll on staff members.
On March 1, employees were informed that the company’s catering services were being temporarily suspended, with a notice explaining that the company was in a “dire situation” with no apparent solution in sight. Workers were advised to make alternative arrangements for their meals until further notice.
The crisis has been ongoing for some time, with salary arrears causing some staff members to resort to sleeping in their offices. Standard Group’s talent hemorrhage has been described as the worst in the company’s history, with an increasing number of journalists leaving for other opportunities.
The portfolio of Standard Group, which includes KTN News, KTN Home, Radio Maisha, Farmers TV, Burudani TV, Spice FM, and Vybez Radio, is still considered a powerful presence in Kenya, but the company’s financial troubles have caused concern.
Standard Group has attempted to invest in digital platforms to reach younger audiences, but the current crisis suggests that the company is struggling to adapt to changing media landscapes.
The future of the company remains uncertain, and there is no clear indication of how it will overcome its financial difficulties.
