This study gives an historical account of foreign ownership of newspapers in Kenya. Since the establishment of the first newspaper in the early 1900s, to the modern publication of daily newspapers in Kenya, the press has been dominated by foreign owners, writers and advertisers. Before independence from Britain, foreign domination was expressed by the total disregard of the African by the newspapers. After independence, foreign domination continued as the government, dedicated to the free enterprise capitalist system, has not made any substantial effort to nationalize already established newspaper companies. In 1977 the first African-owned newspaper, a weekly was established. Today, there is no African-owned daily newspaper. All indications are that only the modernizing process will result in African ownership and control of newspapers.

Determining what is newsworthy is a daily challenge even to the very people who source news, produce and disseminate it. This study is part an exposition and exploration of the different approaches that media researchers have used to explain and determine the value of news. Like similar research before it, this study more specifically delves into the news selection process of news of one particular newspaper with the goal of investigating why and how news is selected for publication in the front page. News is the 'result of many forces: ranging from source power, journalistic orientation, medium-preference and market model, news values and production routines and processes. The study briefly expounds on the different definitions of news as perceived in terms of the developed and developing world. Just as journalists do not operate in a vacuum, a close examination of the various definitions reveals that news cannot be defined in isolation. Its definition is intrinsically tied to that of news values. Also explored here are debates about news values and their Western rootedness. Here reference is made to literature regarding theories on the social construction of meanings and on the gatekeeping concept.The study is informed by similar research in gatekeeping studies and sociology of news studies. It is important to state at the outset that the study is not concerned with how news is produced but why there is a bias for certain kinds of news. I am interested in explaining why and how the writers and editors at the East African Standard make decisions about what is worthy of being published on the front page of the newspaper. This distinction is necessary because the theories that inform this study transcend news sourcing and production. This study takes cognizance ofthe fact that one cannot separate social processes from the individual and vice versa. For this reason, this study investigates and analyses the biases of individual gatekeepers at the East African Standard as well as their collective biases. In the concluding section, this study calls for an alternative paradigm for journalism and news. The foregoing discussions in the other sections prove that a universal definition of news and what is newsworthy will not suffice and there is need to contexualise it.

This study provides an insight into the state of business journalism ethics in Africa, firstly through an examination of newsroom ethical policies and secondly through an exploration of the way in which African business journalists negotiate ethical decision-making in their day-to-day news processing practices. Thirdly, it examines how the three African media organisations have responded in their newsroom policies and practices to the debates on the Africanisation of journalism ethics. In order to collect data, the researcher employed document analysis, semi-structured questionnaires and in-depth interviews. Three financial newspapers namely: Business Day in South Africa, Business Daily in Kenya and Financial Gazette in Zimbabwe were purposively chosen. In these African countries, business journalism has been steadily growing since the late 1960s, fuelled by the presence of robust stock exchanges, making the issue of business journalism ethics of central importance. Grounded in the sociology of news production paradigm, Bourdieu’s journalistic field theory and debates on Africanisation of journalism ethics, this study identifies three major issues. First, the research found that while all three newspapers had clear ethical guidelines in place, and editors and journalists recognised the importance of ethical behaviour, ethical practice did not always follow. A disconnect exists between words (codes of ethics) and actions (practice) especially in Kenya and Zimbabwe, where business journalists are more susceptible to economic and political pressures. The argument is ethical considerations notwithstanding, people need to survive. This is largely due to the precarious economic basis of news organisations, lack of effective monitoring, and a pervasive culture of unethical behaviour at some sites. Second, the study also shows that institutional factors such as advertising, powerful news sources and interference from senior management make ethical business journalism difficult to practice. Third, Africanisation remains an academic issue with little movement towards that direction in most newsrooms studied. The findings of this study demonstrate that business editors in African newsrooms are confused on what ‘Africanisation’ entails especially given their shared view that journalism practices are universal. It recommends that business journalism codes of ethics informed by African values are long overdue. In terms of enforcement and monitoring of codes, it is important to use compliance officers or ombudsperson and periodically run in-house refresher courses on ethics and professionalism. It is imperative that the financial press improve the working conditions of its employees in order to lessen incidences of corruption which are threatening the credibility of media content and media organisation themselves.