Swedish Billionaire Acquires Majority Stake At Online Publication Business Today Kenya
Swedish Billionaire Ricardo Badoer has bought majority shares in the Kenyan independent online business news website, Business Today.
Business Today was founded by veteran journalist Luke Mulunda in 2012 after resigning from the Nation, where he was a sub-editor.
Before that, Mulunda worked at Mediamax-owned People Daily and Standard newspapers as a business journalist.
The details of the deal remain scanty, however Mulunda will retain control of editorial content and business strategy of the blog.
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Sources indicate that the website is joining the ‘big league’, to compete against established brands like Business Daily.
Business Times learns that Badoer will bring in experts to help transform the startup into a major media company in the region.
Recently, Badoer bought Kenyan National SuperLeague team Wazito Football Club as well as Sumac Microfinance.