Alpha Media Holdings Faces Financial Turmoil Amid Mounting Challenges

Trevor Ncube
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HARARE – Alpha Media Holdings (AMH), one of Zimbabwe’s largest independent media houses, owned by media mogul Trevor Ncube, is reportedly on the verge of collapse.

Insiders have revealed that the organization is grappling with severe financial distress, evidenced by its failure to update its website since Saturday due to unpaid monthly subscriptions for Starlink internet services.

AMH, the publisher of The Zimbabwe Independent, NewsDay, and The Standard, has also faced growing unrest among its employees over months of unpaid salaries in US dollars, with arrears dating back to July. Frustration has reached critical levels, with workers accusing management of offering excuses instead of actionable solutions.

The unpaid subscription, reportedly amounting to just a few hundred dollars, has raised questions about the company’s financial management. Sources within AMH allege gross mismanagement under the leadership of CEO Kenias Mafukidze and Financial Director Takelah Gondokondo, both appointed in 2019.

“The company has been deteriorating since Kenias and Takelah assumed their roles,” said an insider. “Their poor decision-making and misplaced priorities are dragging this organization into ruin. It’s a wonder they still hold their positions.”

Adding to the crisis, AMH reportedly experienced power disconnections by ZESA due to unpaid bills. Although electricity has been restored, employees remain skeptical about the company’s ability to sustain operations.

In a controversial cost-cutting move, CEO Mafukidze allegedly proposed reducing print runs, a decision insiders described as “a desperate and ineffective solution.” Some employees have even speculated that Mafukidze’s actions might be deliberate sabotage, accusing him of being a potential “State agent” working to dismantle the independent media house.

“Every payday, when the CEO makes an appearance, it’s almost guaranteed that an excuse will follow, even when there are funds in the accounts,” said a frustrated worker.

The financial turmoil has also taken a toll on employees’ mental health. A recent report by Byo24 highlighted how unpaid allowances and low wages have left workers in emotional distress, further compounding the crisis.

Trevor Ncube, once hailed as a stalwart of independent journalism, is now facing growing scrutiny as AMH struggles to meet even basic operational costs. The decline of his media empire, once a beacon of Zimbabwe’s free press, has sparked concern over its future.

As AMH’s woes deepen, questions linger over whether the organization can recover or if this marks the end of an era for one of Zimbabwe’s most prominent media institutions.

Source: Byo24News