Tuesday, 25 May 2021

MUNYEZA QUITS ZIMPAPERS BOARD

TWO Zimbabwe Newspapers (1980) Limited board members have resigned from the board, while a third will be leaving following indications by the ZSE-listed company’s majority shareholder that it intends to renew the board as the firm enters a new era of digitalisation and free-to-air public broadcasting.

Dr Shingi Munyeza and Mrs Rejoice Nharaunda-Makawa have resigned while Mrs Karen Dube will be stepping down. The Zimbabwe Mass Media Trust is Zimpapers’ majority shareholder.

In a statement last night, Zimpapers board chairman Mr Tommy Sithole said Mrs Dube and Mrs Nharaunda-Makawa have both served for over seven years.

“I informed the three members of the majority shareholder’s desire to replace them at the company’s AGM next month and the two decided to leave with immediate effect,” said Mr Sithole.

“This is normal for a company as diverse as Zimpapers and whose business model is constantly being reviewed due to the difficult economic times, to review its management, board, and the business structures to ensure the company stays ahead of fast-changing developments.

“All three were chairs of our finance, human resources and business development respectively. I am truly grateful for their contribution and dedication to the company and wish them well in their future endeavours.”

Mr Sithole said he was continually in conversation with Zimbabwe Mass Media Trust chairman about the replacements of four members, the fourth being Ms Primrose Ruvarashe Kurasha, who left earlier.

Ms Kurasha lives in South Africa where she is engaged with the University of South Africa and commuting constantly to Harare in the midst of her busy schedule had become a difficult undertaking.

Zimpapers recently posted good financials even though the economy is being buffeted by the Covid-19 pandemic. The company is one of the largest and diversified media businesses in Southern Africa.

It publishes over 10 publications, and has four radio stations and an online television station, ZTN, which will soon be broadcasting free-to-air after being granted a licence by the Broadcasting Authority of Zimbabwe along five other operators.

Zimpapers is also into printing with facilities in Harare and Bulawayo. Herald

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