The Southern Times liquidated
Newspaper succumbs to years of financial woes
The newspaper's general manager before its demise, Gwen Snyders, said she will be releasing a comprehensive final statement on the rise and fall of the only SADC newspaper in due course.
Nineteen years after its inception, state-owned The Southern Times has been wound up by creditors.
Born of an agreement between the Zimbabwean and Namibian governments, the newspaper has been plagued by financial woes for more than a decade, and after a special resolution was taken on 31 May, its voluntary winding-up was registered on 23 June.
According to the Government Gazette, the process was finalised on 7 July by Namibia Liquidations.
The Southern Times board chairperson Emma Haiyambo refused to divulge any other information on the matter, citing the fact that the two governments have not received a final report as the reason.
“The board is not in the position to provide information before giving a final report to the shareholder,” she said.
Still registered
Meanwhile, a source close to the matter who preferred to remain anonymous revealed that the company has not filed for deregistration yet, adding that there has been interest from other countries to buy the newspaper.
Finance minister Ipumbu Shiimi announced a Cabinet decision to close down the newspaper in 2021. Since this announcement, The Southern Times has continued its operations online.
The newspaper's general manager before its demise, Gwen Snyders, said she will be releasing a comprehensive final statement on the rise and fall of the only SADC newspaper in due course.
“I witnessed its birth and its fall; the told and the untold of its journey. So, no one can tell The Southern Times history as I would,” she said.
She added that she wants to speak up now because when Shiimi made his announcement two years ago, she was battling breast cancer and was not in a position to provide answers to local and international media.
According to a 2021 article published in The Namibian, the newspaper's initial funding of N$1.4 million was the only funding received from the Zimbabwean government. Namibia, on the other hand, spent more than N$60 million on printing costs, salaries and various other expenses to keep The Southern Times afloat.
Born of an agreement between the Zimbabwean and Namibian governments, the newspaper has been plagued by financial woes for more than a decade, and after a special resolution was taken on 31 May, its voluntary winding-up was registered on 23 June.
According to the Government Gazette, the process was finalised on 7 July by Namibia Liquidations.
The Southern Times board chairperson Emma Haiyambo refused to divulge any other information on the matter, citing the fact that the two governments have not received a final report as the reason.
“The board is not in the position to provide information before giving a final report to the shareholder,” she said.
Still registered
Meanwhile, a source close to the matter who preferred to remain anonymous revealed that the company has not filed for deregistration yet, adding that there has been interest from other countries to buy the newspaper.
Finance minister Ipumbu Shiimi announced a Cabinet decision to close down the newspaper in 2021. Since this announcement, The Southern Times has continued its operations online.
The newspaper's general manager before its demise, Gwen Snyders, said she will be releasing a comprehensive final statement on the rise and fall of the only SADC newspaper in due course.
“I witnessed its birth and its fall; the told and the untold of its journey. So, no one can tell The Southern Times history as I would,” she said.
She added that she wants to speak up now because when Shiimi made his announcement two years ago, she was battling breast cancer and was not in a position to provide answers to local and international media.
According to a 2021 article published in The Namibian, the newspaper's initial funding of N$1.4 million was the only funding received from the Zimbabwean government. Namibia, on the other hand, spent more than N$60 million on printing costs, salaries and various other expenses to keep The Southern Times afloat.
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