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SABC on the brink of business rescue, report | The Citizen

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The 📡SABC is once again tethering on the brink of 💸financial collapse, so much so the 📺public broadcaster may apply for business rescue. Full story➡️

General views of the SABC building in Auckland Park, Johannesburg on 18 November 2020. Picture: Michel Begais once again tethering on the brink of financial collapse, so much so the public broadcaster may apply for business rescue.

According to a report by the Sunday Times, CFO Yolande van Biljon said the worst case scenario would see the SABC suffer the same fate as state-owned postal services, which is now in provisional liquidation.The broadcaster looks set to announce a loss north of R1 billion for the March 2023 financial year, with load shedding highlighted as the biggest culprit hindering the SABC’s performance.

The publication also reports that van Biljon sounded the alarm bells a month back in a memo to SABC board chair Khathutshelo Ramukumba, but a month later the board is yet to intervene.

 

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