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Manyi obtains provisional liquidation order against TNA Media

The High Court in Pretoria on Tuesday granted Manyi the provisional liquidation order after he said in court papers that the 'Afro Voice' newspaper business was commercially insolvent.

FILE: Mzwanele Manyi. Picture: Christa Eybers/EWN

PRETORIA - Afrotone media chairperson Mzwanele Manyi has obtained a provisional liquidation order against TNA Media, the owner of the Afro Voice newspaper, previously known as The New Age.

Manyi bought the publication from the Gupta family’s Oakbay Investments in August last year but soon ran into financial difficulty.

The newspaper printed its last edition at the end of last month.

The High Court in Pretoria on Tuesday granted Manyi the provisional liquidation order after he said in court papers that the Afro Voice newspaper business was commercially insolvent.

The court has granted interested parties until the middle of November to submit arguments on why the order should not be made final.

A provisional liquidator will be appointed in the interim to preserve the newspaper’s assets.

Manyi says that advertising revenue plummeted from about R5 million a month to R255,000 between February and June this year.