OFFENDED FIGHTER

The new owner of media outlets ANN7 and he will be unapologetic about asking for advertising from government to promote radical economic transformation

Mzwanele Manyi, former government spindoctor and champion of the phrase “white monopoly capital”, claims he should be celebrated for being the first African media owner in SA.

Last week, Manyi said he would be buying television channel ANN7 and The New Age

newspaper for R450m from the much criticised Gupta family. It sparked accusations that he would be fronting for the family and intends using the platform for propaganda in defence of government.

But in an interview with the Financial Mail,

Manyi said he was mightily offended by such claims. “If anybody thinks I’m fronting, I’m challenging them to take me to court — simple as that. Or else I’ll sue them for defamation, because they’re calling me a criminal.”

He says that during his time in government he was part of the team that developed broadbased empowerment rules — including advocating the criminalisation of fronting.

There are some who might take issue with his claim of being the first black media owner. Among them would be Given Mkhari, whose MSG Afrika owns radio stations including Power FM and Capricorn FM; and Trevor Ncube, who owns the Mail & Guardian.

Iqbal Survé, who was involved in the R2bn purchase of Independent Newspapers from the Irish publishing group in 2012, says

Manyi’s claim is “very economical” with the truth. “It’s disappointing Manyi has not realised the real transformation in the form of many empowerment initiatives in media. In TV, you’ve got Satwu; at Primedia, the Mineworkers Investment Consortium is a shareholder; and at Independent, we’re shareholders too.”

Survé says: “It is difficult for anyone to believe it’s a legitimate transaction and not just another front for the Guptas.”

Known as “Jimmy” until two years ago, he now rejects the name as part of his “decolonisation” project.

“The only reason I [was] called ‘Jimmy’ was for working purposes, to enable the white man to be able to call me for work. So it’s no different from having a slave name, because the master would struggle to say Mzwanele. says

“Now that I am my own master I get very offended if you insist on using ‘Jimmy’, because I feel like you’re enslaving me.”

The Rhodes Must Fall movement, he says, triggered his shift in consciousness. “They pushed me over the cliff, those kids. That’s why I even know the date — I think it was April 13 2015 — that’s when the statue fell in Cape Town, that’s the date on which I announced that ‘Jimmy’ was falling,” he says.

Since then, Manyi has been working in his decolonisation foundation as well as in his pro-anc lobby group, the Progressive Professionals Forum (PPF).

Though the Guptas are “family non grata” in SA, Manyi defends them — as well he might, as they “vendor-financed” his R450m deal.

“People are hypocritical. Whatever is perceived to have been done by them cannot be worse than what apartheid has done in this country,” he says. “If the [Guptas] have committed any crime, our own constitution says presumption of innocence until proven guilty.”

The Guptas are lending him R450m, and he is to repay it through profits from the company. But the figure has sparked incredulity: some analysts say it would have to be pumping out R80m/year to justify that price, which seems highly unlikely.

Manyi says: “The amount of R450m is the value of the business. I’ve seen the financials.”

He admits no independent auditing firm has done a fair and reasonable assessment, but he says he consulted people he respects.

“I’m not a complete novice. I’ve worked for an investment bank — Barclays. I used to run the business bank division at People’s Bank, so the issue of numbers is not something that I’m alien to. I looked at the numbers and satisfied myself, and I’m happy,” he says.

So he has committed to repay that R450m within five years, which works out at R90m/year. “It could be sooner,” he adds.

“The business can wash its face despite all the challenges it’s having. It can’t get worse than it is. Since the announcement, some of the monthly contracts have changed to quarterly ones. It means confidence is returning.”

His business plan, it seems, will be to lean