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SA’s Times Group acquires 49pc stake in Radio Africa for Sh1.6bn
Radio Africa Group Managing Director Patrick Quarcoo speaks during a past event. Photo/Diana Ngila
Times Media Group of South Africa has bought a 49 per cent stake in Radio Africa Group, the company that owns Kenya’s KISS FM radio station.
William Pike, a director of Radio Africa Group, said a substantial portion of the $18.62 million (Sh1.6 billion) deal has gone into recapitalising the company and reducing its debt burden.
