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STANDARD GROUP BLAMES UHURU-RUTO GOVERNMENT FOR LINGERING FINANCIAL WOES

Jenipher Obala August 29, 2025, 9:09 a.m. News
STANDARD GROUP BLAMES UHURU-RUTO GOVERNMENT FOR LINGERING FINANCIAL WOES

The Standard Group has tied its deepening financial troubles to long-standing unpaid government debts spanning both the Uhuru Kenyatta and William Ruto administrations.
In its half-year financial results released this week, the media house posted a pre-tax loss of KSh133 million for the six months ending June 30, 2025 — an improvement from the KSh200 million loss recorded over a similar period last year.
The company blamed the losses on sluggish GDP growth, high inflation, climate disruptions, and constrained public spending, all worsened by a government debt backlog running for more than seven years. According to the Group, delayed payments from state contracts have crippled its cash flow and limited operational flexibility.
Revenues dropped by 24% year-on-year, driven by shrinking government contracts and declining advertising income. Despite aggressive cost-cutting measures that reduced overheads by 26%, the board declined to recommend an interim dividend.
The Group further accused the government of deliberately weakening its business through withdrawal of state advertising and regulatory harassment, linking these actions to its critical reporting.
Looking ahead, Standard Group said it remains cautiously optimistic, banking on its 2025–2027 strategic plan focused on modernizing workflows, cutting costs, and boosting commercial performance to restore stability.

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