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Panic as Trevor Ncube's media empire faces collapse
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Alpha Media Holdings (AMH), one of Zimbabwe's largest independent media houses owned by media mogul Trevor Ncube, is teetering on the brink of collapse, insiders revealed. The company has failed to update its website since Saturday, allegedly due to unpaid monthly subscriptions, highlighting the severe financial turmoil gripping the organization.
Workers at AMH, which publishes The Zimbabwe Independent, NewsDay, and The Standard, have raised alarm over months of unpaid salaries in US dollars dating back to July. Frustration among employees has reached boiling point, with management accused of making repeated excuses instead of addressing the crisis.
While it remains unclear how much AMH owes for its monthly subscriptions, sources close to the matter claim the amount is a few hundred dollars, a modest figure for a company of AMH's stature. This has fueled speculation of gross mismanagement under CEO Kenias Mafukidze and Financial Director Takelah Gondokondo, both of whom were appointed in 2019.
"The company has been on a downward spiral since Kenias and Takelah took over," said an insider. "Their decisions are baffling, and their misplaced priorities are driving this company into the ground. It's a miracle they're still at the helm."
Reports suggest that AMH recently faced power disconnections by ZESA over unpaid bills. Although electricity was eventually restored, workers remain skeptical about the company's ability to keep the lights on, both literally and figuratively.
To cut costs, CEO Mafukidze reportedly proposed reducing print runs, a move insiders describe as "stitching an anus to prevent diarrhea." Employees speculate that Mafukidze's questionable decisions may be deliberate sabotage, with some even suggesting he could be a "State agent" tasked with dismantling the private media company.
"Every time payday approaches and the CEO visits, we know an excuse will follow, even when the accounts are loaded," a disgruntled worker said.
AMH workers are also grappling with severe mental health challenges due to financial stress. A recent Byo24 report revealed how unpaid allowances and meager wages have left employees in emotional distress, compounding the crisis.
Trevor Ncube, once celebrated as a champion of independent journalism, now faces growing scrutiny over his leadership and the survival of his media empire. With AMH struggling to meet basic operational costs, the future of one of Zimbabwe's most prominent media institutions hangs by a thread.
As AMH's plight worsens, many are left wondering whether this signals the end of an era for Ncube's once-mighty media empire.
Workers at AMH, which publishes The Zimbabwe Independent, NewsDay, and The Standard, have raised alarm over months of unpaid salaries in US dollars dating back to July. Frustration among employees has reached boiling point, with management accused of making repeated excuses instead of addressing the crisis.
While it remains unclear how much AMH owes for its monthly subscriptions, sources close to the matter claim the amount is a few hundred dollars, a modest figure for a company of AMH's stature. This has fueled speculation of gross mismanagement under CEO Kenias Mafukidze and Financial Director Takelah Gondokondo, both of whom were appointed in 2019.
"The company has been on a downward spiral since Kenias and Takelah took over," said an insider. "Their decisions are baffling, and their misplaced priorities are driving this company into the ground. It's a miracle they're still at the helm."
Reports suggest that AMH recently faced power disconnections by ZESA over unpaid bills. Although electricity was eventually restored, workers remain skeptical about the company's ability to keep the lights on, both literally and figuratively.
"Every time payday approaches and the CEO visits, we know an excuse will follow, even when the accounts are loaded," a disgruntled worker said.
AMH workers are also grappling with severe mental health challenges due to financial stress. A recent Byo24 report revealed how unpaid allowances and meager wages have left employees in emotional distress, compounding the crisis.
Trevor Ncube, once celebrated as a champion of independent journalism, now faces growing scrutiny over his leadership and the survival of his media empire. With AMH struggling to meet basic operational costs, the future of one of Zimbabwe's most prominent media institutions hangs by a thread.
As AMH's plight worsens, many are left wondering whether this signals the end of an era for Ncube's once-mighty media empire.
Source - Byo24News
