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“Cash-strapped” South African Mogul, Khanyi Dhlomo Shuts Down Her Ndalo Media

South African mogul Khanyi Dhlomo has, in a statement on Friday, confirmed reports that her Ndalo Media is shutting down.

Ndalo Media is responsible for the publishing magazines: Destiny, Destiny Man and Elle South Africa.

According to report, Dhlomo told staff that the company is financially embattled and will cease operation by January.

The statement read:

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After much reflection, I have taken the tough decision to close down Ndalo Media. At this point, my focus is on Ndalo Media’s employees and stakeholders who have all made a significant contribution to the business over the years.

Thereafter, my focus will shift to the next chapter which I’ll share at the appropriate time. I’m thankful for the opportunity we’ve had to touch millions of lives through our work and to all who have supported our brands in various ways.

05 April 2017. For the first time in its 21-year history in South Africa, the 71-year-old Elle media brand will be published by a 100% black-owned media company. Khanyi Dhlomo, owner of Ndalo Media, announced on Tuesday morning that the media company has secured the South African licences for the Elle and Elle Decoration media brands. The licence covers print, digital, events and other related brand extensions and was awarded by the brand’s French owner, Paris-based Lagardère Active.Picture: Moeletsi Mabe/Sunday Times.
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