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Naspers writes off ZAR 400 mln Welkom Yizani debt

Tuesday 23 February 2016 | 10:34 CET | News
African media group Naspers has agreed to write off the preference share debt and accrued interest owed by Welkom Yizani. The debt is valued at around ZAR 400 million and will be waived on approval of the Welkom Yizani annual financial statements for the year ending 31 March. Rachel Jafta, chair of Welkom Yizani and Media24 said this was a significant concession by Naspers in a time when print media in South Africa, much like in the rest of the world, has been under pressure due to structural changes. According to Media 24, Welkom Yizani is the biggest black economic empowerment scheme in

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Categories: Broadcast & Satellite
Companies: Naspers
Countries: South Africa
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