Update: Fin24 incorrectly stated that both Afro Voice – formerly The New Age newspaper – and Afro Worldview – formerly ANN7 – were applying for liquidation.
The liquidation application only applies to Afro Voice. The article has been updated.
Mzwanele Manyi, who purchased The New Age in 2017, is liquidating the company.
The newspaper was renamed Afro Voice following the acquisition from Oakbay Investments – owned by the Gupta family.
According to a report by Fin24, Manyi has filed court papers seeking an order of liquidation to be granted.
“There are no prospects of rescue for the company under the prevailing circumstances,” stated the court papers.
The report stated that Manyi asked the court to grant the liquidation “to protect the interests of its creditors and some stakeholders”.
Manyi said that when they purchased the newspaper, it was believed the property could become financially profitable.