PARLIAMENT - The South African Broadcasting Corporation was heading for factual insolvency by the end of March and hoping for emergency funding from National Treasury to be allocated within the next two weeks, management and Communications Minister Stella Ndabeni-Abrahams said on Tuesday.
Ndabeni-Abrahams said at this stage it was not clear how much funding would be forthcoming from the National Treasury, recalling that the public broadcaster had asked for recapitalisation of R6.8 billion. That request has not been approved because the entity first needs to update its turnaround plan.
Mxakwe said the company was suffering for "the past total disregard for process" it saw under previous management teams. Chief financial officer Yolande van Biljon said it also meant that the SABC had not been able to perform maintenance on its buildings and as result sections of the roof at its Auckland Park headquarters were caving in.
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