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ZBC saddled with $66m debt

ZBC CEO Patrick Mavhura has told Parliament that the broadcaster wants government to take over or warehouse its $66 million debt.


Mavhura and other top ZBC officials appeared before the William Dhewa-led Parliamentary Portfolio Committee on Media and Information to speak on the KPMG forensic audit and its implementation, where MPs also grilled the crew over the broadcaster’s partisan reporting.

“ZBC is saddled with a $66 million debt, which is owed to creditors, and it was caused by a five-year period of perennial losses, where we posted a loss of $65 000 that created a negative net worth of $12 million and this huge debt of $66 million,” Mavhura said.

“The KPMG recommendations were that the debt should be taken over by government, and this is yet to happen.”

Mavhura said after the old board and management were fired, which ushered in a new board and management, the broadcaster engaged in new corporate strategies that had improved ZBC’s financial position.

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