New era for ANN7
ISSUES: MANYI PLEDGES TO MEET GRUMBLING STAFF
New media mogul promises growth and transformation at former Gupta firms.
Owner of Infinity Media Networks Mzwanele Manyi yesterday vowed to tackle the hostile labour relations between staff and management at ANN7 TV network and The New Age newspaper, promising growth and transformation at his newly acquired company.
In a bizarre live television studio broadcast that caught journalists by surprise as they had expected an ordinary media briefing as per the company invite, Manyi said he was seeking to “clear the air in the light of wrong narratives out there” about the company, sold to him through vendor financing by the controversial Gupta family.
“An opportunity presented itself and I took it… We have worldclass facilities, as you can see here. None of you has these kind of facilities,” he said.
“As a transformation agent, it was important to consider the issue of jobs here. If we were to succumb to the pressure from out there, 500 people would be left jobless. “There will be no victimisation of staff, we plan to keep everyone who is already here and even grow the company further. Everything will be done according to the laws of the country here. I heard about staff being badly treated. I have met with them and will still do so again. The unions have allowed me to settle in. We are set to meet in September and resolve all issues.”
Black staff members have complained about racism, unfair labour practices, unfair dismissals and being underpaid compared to their Indian and white colleagues. Most of the complainants have approached trade unions and the Commission for Conciliation, Mediation and Arbitration.
Manyi said he turned to the Guptas after his efforts to secure R300 million funding from the Industrial Development Corporation was unsuccessful due to “unreasonable demands” by the funding institution. He had planned to use the R300 million to buy a stake in a listed entity. “It was that kind of merry-go-round that made me realise development finance institutions (DFI), which are supposed to drive development, are not doing what they are supposed to do. So, if I cannot get finance from a DFI, what chances do I have with commercial banks?”
He would not disclose how much he was expected to pay the Guptas every month and showed journalists a tax certificate from the SA Revenue Service for his holding company, Lodidox Management, and another document that showed that he was the sole shareholder of Lodidox.
He said there were many black economic empowerment companies interested in partnering with him at Infinity. – ANA
An opportunity presented itself and I took it.