Post Newspapers buildings sold, demolished

THE building that once housed the defunct Post Newspapers has been sold and demolished by the new owners, Paratus Holding Group.

All structures on plot 36 Bwinjimfumu Roiad, Rhodespark in Lusaka have been razed and what remains is just dust.

The building housed the head offices for the Post Newspapers formerly owned by Fred M’membe, the leader of the Socialist Party.

A check by the Daily Nation at the defunct newspapers’ former head office found the new owner, a multinational organisation, Paratus Holding Group had already taken possession of the property with some new construction works going on inside the fence.

Paratus Group which has operations in six other African countries are planning to set up an internet hub at the premises, among other business interests.

The Post Newspapers Ltd was placed under compulsory liquidation after five former employees Andrew Chiwenda, Roy Haabalu, Bonaventure Bwalya, Mwendalubi Mweene, and Abel Mbozi applied to the High Court to have the company placed on liquidation to recover their terminal benefits.

Lewis Nathan and Company run by lawyer Lewis Mosho were appointed as provisional receiver in respect of all company asserts.

The newspaper was shut down by the Zambia Revenue Authority for failing to pay taxes.

According to ZRA Taxpayer compliance status report as at September, 1, 2014, the Post Newspaper Limited had accumulated more than K8 million in Income Tax, Pay as You Earn (PAYE) and Value Added Tax (VAT). The Post Newspapers also owed over K187 million to the Investrust Bank Plc, NAPSA, Development Bank of Zambia and its employees among others.