NMG Appoints New Boss as CashlessRwanda Campaign Closes

Members of the business community listening to progress prospects in the CashlessRwanda campaign

The Kenyan based media outlet, Nation Media Group (NMG) has announced appointment of Stephen Gitagama taking over from Joseph Muganda who has served for less than two years.

NMG is listed on the Rwanda stock exchange market.

According to a statement signed December 11th by James C. Kinyua, the Group company Secretary on the order of board, Muganda resigned and his resignation letter was accepted.

Muganda, who has vast experience in sales and marketing was appointed Chief Executive Officer of the group to drive the media company into self-sustainability and compliance with digitisation.

At the realm of his appointment Muganda was able to close some of the radio and TV stations run by NMG in the region, including one radio station in Rwanda (Kfm).

“Muganda is leaving the group to pursue personal interests,” a statement by NMG said indicating that he will leave on January 31st 2018 and his successor will assume new duties starting February 1st 2018 as the acting CEO until an appropriate candidate is found and announced in the near future.

Muganda joined NMG in July 2015 and has also landed a juicy job with Vivo Energy Kenya.

In the meantime, the Rwanda cashless campaign aimed at encouraging Rwandans to go digital in cash transactions by 2040, ended today with the central bank commending business community in taking the lead.

“The success of this CashlessRwanda drive will depend not only on payment facilities available in the market but on adoption by all Rwandans which largely depends on you the merchants,” Governor John Rwangombwa said.

The governor also assured business communities that the treasury is working on challenges of electronic payments with banks to ensure reviewing their pricing models and put in place the right incentives to help traders and their customers to use e-payments without any difficulties.

On the other hand, the local bourse didn’t have anything to smile about as there was no activity just like the previous day, which saw the stock and shares indexes closing at 134.39 and 133.34 respectively.




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