Standard Group Limited on Friday, April 28 announced a series of changes to its editorial department while revealing that it recorded a Ksh1 billion loss incurred in the year that ended December 31, 2022.
Standard’s Editor-in-Chief, Ochieng Rapuro revealed in a notice that the changes were aimed at repositioning the media house and realigning its newsroom in a bid to achieve ambitious medium to long-term goals.
Among the high-profile changes included veteran sports journalist Hassan Jumaa, who was the Program Editor of TV Output before being transferred to the Sports Desk as Sports Editor.
Lillian Odera, who served as program editor in TV Output, was moved to the SuperDesk as Continuity Editor. Samuel Njogu who was working at the QAE Economy desk will now work as deputy editor in the same desk.
Christine Koech who was attached to Deputy Editor, Gender Desk, moves to the science and Health Desk in the same capacity.
Sarah Okuoro who was been working as the Deputy Editor of the Digital Output was moved to being the acting editor in the same desk. Senior Reporter Betty Njeru was appointed Deputy Editor of Radar Desk and acting editor.
William Bulemio who was attached to the QEA National Desk was moved to Digital Output in the same position. Gathenya Njaramba who was at QAE politics, was moved to print output in the same position.
Belden Waliaula who was a reporter at the city desk has been moved to the science and health desk in the same position.
Health reporter based in Eldoret Mercy Kahenda was moved to the company’s headquarters to serve in the same capacity, with both positions aimed at recovering the health desk which was among the hardest hit by talent haemorrhage, with several journalists leaving the Standard Group for greener pastures.
The media house based along Mombasa Road saw its total revenue for the year that ended December 31, 2022, drop by 13 per cent to close at Ksh2.7 billion from Ksh3.1 billion in 2021, while total costs increased by 17 per cent, driven by an increase in the cost of production.
Standard also posted an increase in the provision for expected credit losses, due to pending government bills and incurred a loss before tax of Ksh1 billion compared to a loss before tax of Ksh22 million in 2021.
“The Group will continue to enhance its operational efficiency while monitoring its costs rationalisation initiatives to counter the effects of the rising cost of doing business.
“Following the conclusion of the 2022 General Election, the Group is optimistic that the current economic environment will improve and shall continue to present business opportunities that it can tap into. The Group will also continue to enhance its operational efficiency while monitoring its cost rationalization initiatives to counter the effects of the rising cost of doing business,” Standard Group’s report stated in part.
The high cost of living was among the factors attributed to the decline as inflation hit an all-time high of 9.06 per cent. Other factors were intensified global uncertainties, geopolitical tensions, eruptive financial markets, inflationary pressures, and the residual effects of the pandemic.
Standard Group has been facing challenges in paying its staff their salaries, which has exposed it to lawsuits and loss of talent, aggravated by its decision to initiate mass firings, exposing the media house to talent poaching amongst its rivals.