One of South Africa’s media companies has suspended employees over allegations of financial mismanagement.
According to a report on News24, Arena Holdings has suspended some employees after allegations of "serious financial mismanagement" were made.
It is believed that Arena Holdings is taking advice on whether the company would be pursuing criminal charges.
Arena Holdings said on Friday, the precautionary suspension of a number of employees after an internal audit flagged the alleged financial mismanagement.
Some of the newspapers under the media house’s banner includes, Sunday Times, Business Day, Financial Mail, and the Sowetan.
News24 cited an internal announcement that was circulated amongst Arena Holdings staff from acting CEO, Pule Molebeledi.
"We will be taking disciplinary steps against the employees in accordance with our disciplinary code. The company is also seeking advice on whether to lay criminal charges against those implicated," Molebeledi said in the document.
On Sunday, Arena Holdings told Business Report that the company would not be commenting on the matter.
BUSINESS REPORT
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