FULL STORY | The papers further show that Ndalo Media at some point entered into a settlement plan with CTP Printers to make certain payments to clear the debt. https://t.co/ahEGNUkl5d
— Sunday World (@SundayWorldZA) November 19, 2018
"Ndalo Media will officially shut down on January 31 2019, company owner Khanyi Dhlomo told her employees on Wednesday," reports Sowetan Live.
The news comes shortly after the announcement of Kojo Baffoe rejoining the Ndalo Media team, as returning editor for Destiny Man.
Baffoe had grown the magazine into a leading men’s media brand during his previous four years at the helm. But things have changed since then.
The Daily Vox reminds us that Ndalo Media is the only "black-owned premium magazine publisher in the country," having been founded by Dhlomo in 2007 as a joint venture with Media 24, which ended in 2015, at a buy out value of R6 million.
Other titles in the Ndalo media stable include Destiny, Sawubona, Elle and Elle Decoration.
Sunday World reported in November that Ndalo Media faced liquidation over a R13-million debt, allegedly owed to its printers accumulated between 2016 and 2018.
Sowetan Live also confirms that Dhlomo has called this a "orderly voluntary wind down of the business," and she hoped to avoid a situation where the company would be forced to liquidate.
