, says the South African Broadcasting Corporation will get immediate interim relief from National Treasury in order to deal with its liquidity crisis by the end of this month.
This as the SABC warned that it would not be able to pay staff salaries at the end of this month if something is not done to recapitalise the public broadcaster. The organisation revealed that it would reach factual insolvency at the end of March. It says it is not able to pay some suppliers to the tune of about R1,4 billion. And worse still, it anticipates to record a net loss of R568 million for this financial year.
However, both the Minister and SABC Group CEO, Madoda Mxakwe, says their interactions have been fruitful. “Treasury has told us that we will provide interim relief to SABC for it to be able to attend to their needs and that does not mean salaries. We will not be providing money for salaries, but we will pay for other things including the debts that we make sure SABC takes care of it to be able to continue with the business of the day,” says Mdabeni-Abrahams.
Ungqongqoshe ongenakwethembeka, loyo Sisi.
Cut the losses and close the buisness down SABC wont be missed
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