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Debts Hamper ZBH Commercialisation
MISA-Zimbabwe
November 15, 2004

Huge debts are crippling the state-controlled Zimbabwe Broadcasting Holdings (ZBH) commercialisation drive despite the government’s assumption of the ZBH’s $30 billion debt.

According to the Zimbabwe Independent, the envisaged commercialisation was being hampered by the ZBH’s failure to clear debts accumulated over the years.

Quoting a report produced by its former chief executive officer, Munyaradzi Hwengere, the Zimbabwe Independent reports that the assumption of debt by the government had not assisted in increasing liquidity due to dwindling advertising revenue.

According to The Zimbabwe Independent, Hwengere’s report states that the exercise initiated in 2001 through the Zimbabwe Broadcasting Corporation (Commercialisation) Act, had failed to work because the state broadcaster could not generate enough income.

ZBH executive chairman Rino Zhuwarara reportedly said that they were working towards turning the loss-making state broadcaster into a viable institution but declined to discuss the issue of the debt.

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