Alpha Media Holdings (AMH), one of Zimbabwe’s largest independent media companies led by Trevor Ncube, is facing severe financial challenges, raising fears of an imminent collapse. AMH, which publishes The Zimbabwe Independent, NewsDay, and The Standard, has struggled to update its website since Saturday, reportedly due to unpaid monthly subscriptions.
Financial Crisis Unfolds
Insiders have revealed that the company is months behind on salaries, with employees owed wages in US dollars dating back to July. Workers have expressed frustration over repeated unfulfilled promises from management, sparking outrage and uncertainty about the company’s future.
Speculation about mismanagement is rife, with criticism aimed at CEO Kenias Mafukidze and Financial Director Takelah Gondokondo, who took over in 2019. “The company has been on a downward spiral since Kenias and Takelah assumed leadership,” an insider claimed, describing their actions as “misplaced priorities.”
Operational Challenges
AMH’s financial troubles extend beyond unpaid wages. Reports indicate that the company recently faced power disconnections from ZESA over outstanding bills. Though electricity has been restored, employees remain skeptical about AMH’s ability to sustain its operations.
To cut costs, management has proposed reducing print runs—an idea workers describe as inadequate and counterproductive. Some speculate that CEO Mafukidze may be intentionally sabotaging the organization, with rumors circulating about potential ties to state interference.
Employee Struggles
The financial turmoil has taken a toll on AMH’s workforce, with many employees battling severe mental health challenges due to financial stress. A recent Byo24 report highlighted how unpaid allowances and minimal wages have left workers in emotional distress, further compounding the crisis.
Trevor Ncube Under Scrutiny
Trevor Ncube, long regarded as a trailblazer in independent journalism, now faces mounting criticism over his leadership. As AMH struggles to maintain basic operations, questions about the sustainability of his media empire have intensified.
Once a symbol of independent journalism, AMH’s future now hangs in the balance, prompting fears that Zimbabwe may lose one of its most prominent media institutions.