Media mogul Khanyi Dhlomo has officially confirmed the reports that Ndalo Media is to close shop at the end of January next year.

In a statement issued on Friday, Dhlomo said she would now be focusing on the company’s employees and stakeholders before moving on to the next chapter in her life.

On Wednesday Dhlomo informed staff that the financially embattled Ndalo Media would cease operating at the end of next month.

Here is the full statement by Dhlomo:

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.

Issued on behalf of Ndalo Media by Vuma Reputation Management