Digital innovation, printing and packaging inventions to drive Vision growth — CEO

KAMPALA - Don Wanyama, the Vision Group Chief Executive Officer and Managing Director, spoke with Simon Okitela about the company’s 2024/2025 performance and its future focus.

Question: Vision Group’s latest full-year results come amid a challenging media environment. How would you describe the company’s overall financial position for the year?

Answer: The financial position for this year has slightly improved compared to the previous year. The sales improved, and the loss for the period reduced as well. Our Sales went up by 0.2% and we managed to keep the costs slightly lower compared to last year. Overall, total comprehensive loss reduced from shs10.9Bn in FY2024 to sh8.5b in FY 2025, which is a sign of progress.

What key factors drove the results we have today?

The performance was driven by growth in sales, though minimal. The other factor is costs of the raw material inputs, particularly costs of newsprint, printing inks, consumables, and broadcasting content material costs that were kept within range.

What is the company doing to improve its financial position?

The company is diversifying and expanding into digital media because we know that digital is now the way to go. We've gone into billboards as a new venture. We increased the number of sites in the period, and we've been able to register good progress in that revenue stream compared to last year.

We are expanding or diversifying into new territories like courier, where we are also seeing reasonable growth, and we are actively participating in the digital space. Recently, we started an e-shop where people can go in and pick whatever they want to purchase, and we deliver through the courier arm of the business.

We are working on a new factory in Namanve Industrial Park that will start production sometime next year. This is going to enable us to expand our commercial printing and packaging capabilities. The factory test runs should start in February 2026, and thereafter, we expect to do a lot of jobs.

How are circulation and print sales performing compared to the previous years? How has it trended over the years?

Newspaper copy sales are on the decline. This is a global trend, it’s not unique to the New Vision. Globally, we have seen the impact, and our immediate neighbours in the region are witnessing the same. So, that's the trend. There's a decline in physical copies, but the strategy is to increase online copies and subscriptions.

According to the Audit Bureau of Circulations (ABC) South Africa 2025 report, print media across the continent has experienced significant declines, with some publications registering double-digit drops in circulation. For instance, Kenya’s Daily Nation and Sunday Nation saw reductions of 11% and 12% respectively, while South African titles such as Sunday Times and City Press recorded drops of 13% and 15%.

Vision Group’s print titles, however, have shown remarkable resilience compared to these industry trends. Over the past decade, Weekend Vision (Sunday Vision) recorded the lowest circulation decline at 5%, while New Vision and Bukedde registered moderate declines of 7%, well below the regional and continental averages.

This performance underscores the enduring loyalty of Vision Group’s readers and the continued strength of its brands as trusted sources of news, information, and entertainment.

According to the IPSOS National Audience Measurement Survey (NAMS 2024), Vision Group dominates the Uganda media at 51% market share.

In the local newspaper market, New Vision newspaper has a 40.7% market share and Bukedde 30% share.

The broadcast stations, too, are strong in the market.  Bukedde TV1 has a national reach of 42%, and Bukedde TV2, a 15% reach. In the Western regions, TV West has a reach of 57.9%.

 Most of our radio stations lead in their regions: Arua One leads in West Nile with a 43.3% reach, Radio West leads in Ankole with 44.7%, Etop leads in Teso with 77% reach, Radio Rupiny is the second in Acholi with a 40%, and Kabalega FM, the newest station, has a 7.5% reach.

All these media platforms offer a strong foundation for the business. As we walk into the digital future, we have strong legacy products to build on, and we shall continue to innovate with them to grow more revenue.

Given the industry realities, what are the future prospects for the company, and what trends in the industry is the company taking advantage of?

As the company adapts to changing market realities, Vision Group continues to diversify its business portfolio and invest in complementary ventures that drive growth beyond traditional media. These include Vision Printing, Vision Courier, Blend Advertising Agency, digital billboards, and major social events such as the Harvest Money Expo, Bride and Groom Expo, Ultimate University Quiz and the Toto Festival, among others. These initiatives are designed to expand revenue streams, create new value for customers, and ensure long-term sustainability.

The emerging trend right now is the new media digitization, and that is where our readers, listeners, and viewers are. We are investing in our digital assets to make sure that we follow our clients wherever they are. We have created new apps, but it does not mean we shall abandon the legacy media, because we still have large, influential audiences there.

Profitability has been under strain across the media sector globally. Shareholders have not seen any dividends from their shareholding for a while. What steps are you taking to preserve margins?

One of the key steps we are taking is cost rationalization, making sure that we manage our costs to fit within the business model that evolves on a daily basis.

The second aspect is for us to improve efficiency, make sure that you achieve a lot with the little that you have, both in machine operations, in people management, and all workflow processes.

In addition, Vision Group is investing heavily in digital innovation, strengthening audience engagement through new platforms such as the Vision Digital Experience App, company websites, the E-Paper, and other online platforms. These efforts enhance the integration of the Group’s print, broadcast, and digital products to meet the evolving needs of its audiences.

The company remains focused on operational efficiency, strategic partnerships, and customer-centric innovation to deliver sustainable growth and long-term value for all stakeholders.

While industry trends show a natural evolution in consumer preferences, Vision Group remains confident in its transformation strategy. We are building a stronger, more agile media organization that meets audiences where they are across print, broadcast, and digital platforms, while expanding into new ventures that ensure long-term sustainability.

What are you planning to do about debtors, most of whom are government entities that owe a lot of money to Vision Group?

In terms of government debtors, we are working closely with the accounting officers to make sure that our payments are given consideration amidst their tight budgets and different government expenditure priorities.

What cost pressures is the company facing?

A lot of our materials are foreign sourced, particularly newsprint, printing inks , consumables and TV content with suppliers and service providers that require upfront payments. Dealing in foreign currency can be challenging and risky. In a few instances, we got some currency gains, but it also comes with a risk that when the dollar swings, your payments also go up, which affects your overall production cost. So that is how it was in the current financial year.

Do you have any closing remarks?

To our dear shareholders, the company is stable with high prospects for improvement and growth. The fundamentals are right, and the business model has been re-engineered to deliver our shareholders' and other stakeholders’ expectations.  We believe that the Company will turn around sooner rather than later.

Management, supported by the Board, is doing everything possible to turn around the performance of the company.