Simon Gicharu’s wealth: Billionaire Simon Gicharu is the newest media owner in Kenya. The billionaire, who founded Mount Kenya University is set to launch a media house that has been revealed to have been named Cape Media.
“The entrepreneur, who is also the chairman of MKU, is understood to be investing Ksh. 500 million in the venture, financed by a local bank. Prof Gicharu said he had closed Royal TV, his television station in Kigali, and moved it to Kenya,” says the Business Today online media site.
“The radio, Royal FM, is still operational and is the only radio station hosting breakfast show in English language in Rwanda and is ranked among the top three. Kigali in the Morning is hosted by former Capital FM presenter Jackie Lumbasi,” the site says.
Apparently, the new media house is being run by his son. A week ago, the new station posted a job advert, in which it is calling out for journalists.
It will be interesting to see how Simon Gicharu performs as a media owner, especially since he is venturing into the media industry amidst rising competition and shrinking revenue.
Nonetheless, the investment is set to compound Simon Gicharu’s wealth and position him as one of Kenya’s local top self made billionaires.
Am Charles from Nyandarua I would like to be a journalist in Nyandarua and Laikipia reporter.