Ezra 'Tshisa' Sibanda sells his Skies FM stake for $30 000

VETERAN broadcaster and former ZBC presenter Haile Velaphi Mlangeni has bought radio legend Ezra Tshisa Sibanda's 30 percent shareholding in Bulawayo commercial radio licence hopefuls Skies FM for $30,000, the state media reports.

Sibanda confirmed the sale yesterday saying he was no longer a director at the radio station, but would stay on as chief executive officer.

The development was revealed at the ongoing public hearings being conducted by the Broadcasting Authority of Zimbabwe (BAZ) in Bulawayo.

Commissioner Charity Moyo queried why Sibanda's name was still included on the Skies FM application papers as a shareholder, director and CEO when in the new papers presented at the hearing, Mlangeni was cited as a 30 percent shareholder.

"There appears to be a change in the shareholding structure. In the applicant's initial application papers, Sibanda has a 30 percent shareholding, now it's being held by Mlangeni. Please clarify that point," said Comm Moyo.

In response, June Khumalo – one of the directors of Skies FM – said indeed Mlangeni was the new shareholder who had bought shares from Sibanda.
She said Mlangeni now owns 30 percent while the other 30 percent is controlled by Mtandazo Khumalo and 40 percent is owned by Netsai Gumede.

"Sibanda is no longer a shareholder or a director. He resigned and is now the CEO. So may you please withdraw the letter of January 27, and we will forward the letter to that effect," said Khumalo.

Sibanda told Chronicle members of the public could also buy shares at the radio station.
"Yes I sold my shares and I am now the CEO. In fact members of the public are also welcome to buy the shares if they want," he said.

Sibanda and Mlangeni are former Radio 2 (now Radio Zimbabwe) DJs and are in the project that is being bankrolled by Transport Minister Dr Obert Mpofu.