Sabido Investments, which owns broadcasting assets including e.tv and eNews Channel Africa (eNCA), has announced it may have to close two loss-making divisions and has begun consultations with affected staff.
The first business that may be closed down is the pan-Africa TV division of eNCA.
“The closure of the news broadcast on the Sky digital platform in the UK last year and the cessation of news broadcasts to the Africa Channel (UK) early this year have forced a review of whether it has any other viable routes to operational sustainability and whether the Africa news service is sustainable as a separate business division,” Sabido said in a statement issued on Friday.
The second area affects the Natural History Unit and the factual division of Sabido Productions. “These operations have been incurring sustained losses for many years and do not appear to have the potential to turn around in the future,” the company said.
“Discussions with personnel have commenced in both these areas. Where possible, staff have already or will be absorbed into other areas of the business where vacancies or new opportunities have opened up. Where this doesn’t happen, retrenchments will have to be considered,” it added.
Sabido Investments group head of corporate affairs Vasili Vass told TechCentral that the company can’t say how many staff will be impacted. “We are looking at redeployment wherever possible and only when this has been settled can we give a number.”
Sabido said in the statement that the fundamentals of the group are good. “We look forward to positive growth for the group as a whole.” — © 2015 NewsCentral Media
