Zambia Refuses to Reverse TopStar Decision

Wednesday 22 February, 2017 - 9:01

Despite a public outcry, the Zambian government has refused to reverse its decision to award 60% shares of the national broadcaster to Chinese digital television provider TopStar

Before the deal, ZNBC was 100% owned by the Zambian government.

According to the deal for the next 25 years, TopStar will be collecting all ZNBC advertising revenues and tower rental fees.

The money will go towards the servicing of a US$273 million loan that the Zambian government has contracted from the Export-Import Bank of China for the investment in the digital broadcasting network and the building of provincial studios.

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Source:

ITWeb Africa

Tags:

Zambia