Media activists blame the current economic crisis and increased usage of online media as the major causes behind viability problems crippling local media houses – who face a severe liquidity crunch that makes it difficult to buy newsprint, meet printing costs, provide salaries and distribute newspapers.
These publications include Alpha Media Holdings’ (AMH) NewsDay, Zimbabwe Independent, the Standard and Southern Eye, Associated Newspapers of Zimbabwe’s (ANZ) Daily News, the Financial Gazette and the recently re-launched Zimbabwe Mail.
AMH recently retrenched a significant number of its employees but was struggling to mobilise retrenchment packages, while insiders at Daily News, Zimbabwe Mail and Fingaz say they are operating from hand-to-mouth.
The Zimbabwe Mail used to operate as the Mail before it folded and was subsequently bought by Obert Mpofu, the Transport Minister who owns an array of businesses across the country.
Fingaz is reportedly owned by former Reserve Bank of Zimbabwe (RBZ) governor, Gideon Gono, with the Central Intelligence Organisation also enjoying a stake.
“The viability problems are largely a reflection of the macro-economic situation in Zimbabwe,” said Nhlanhla Ngwenya, director of the Zimbabwe chapter of the Media Institute of Southern Africa.
“If the private media collapse or become severely crippled, that is likely to create a monopoly as the government-controlled media has the capacity to remain viable through access to state funding and advertising from state enterprises,” said Ngwenya.
“Digitalisation is also likely to lead to a loss of jobs in the media, unless something is done to adapt to the changing trends,” said Foster Dongozi, the Zimbabwe Union of Journalists secretary general.
Post published in: News