SABC to get a bailout

[BusinessTech]

SABC to get a bailout

Communications minister Stella Ndabeni-Abrahams has announced that National Treasury has agreed to provide the SABC with interim financial relief, to prevent the broadcaster from collapsing by the end of the month.

 

[My_King]

Who had bids on "Financial relief"

 

[porchrat]

Where's my financial relief?

 

[Lew Skannen]

 

[ekske1]

Where's my financial relief?

bleck like me?
struggle veteran?
at least 4 people tried to capture you?

 

[BeerIsNotGood...]

SABC to get a bailout

Communications minister Stella Ndabeni-Abrahams has announced that National Treasury has agreed to provide the SABC with interim financial relief, to prevent the broadcaster from collapsing by the end of the month.

Lol

 

[Creag]

Pity.

 

[OCP]

You get a bailout and you get a bailout, everyone gets a bailout!

(provided you are a SOE of course)

FFS - and next week they will introduce a new broadcasting tax to cover the bailout....

 

[Lew Skannen]

Government has no other options. Legal obligations require them to ensure these companies stay afloat and that debts are paid, even if it means bailing them out on a month to month basis with tax payers money.

 

[blaaislaai]

Just let them collapse already, FFS!

 

[Lew Skannen]

Just let them collapse already, FFS!

As with SAA and Eskom, they can't and won't. All lenders are then in a position to make all debt to them payable with immediate effect. No down payments any longer. But, there is a cross clause for the majority of lenders, which means, if one lender also lent money to other SOE's, they may make those debt in other SOE's also payable with immediate effect.

If a single lender does this, everyone else will follow and the government, who issued guarantees must pay them all with immediate effect.

The SA Government is bankrupt and currently borrowing in excess of R20bn a month to keep afloat.

This event will collapse the government. This is why the tax payer will carry all these debts indefinitely.

 

[Hemi300c]

Always easy when it's not your money you wasting

 

[Lew Skannen]

Always easy when it's not your money you wasting

Luckily the money is starting to run dry for them. They can try to keep things afloat only for so long until it will all come tumbling down on them.

 

[krycor]

Luckily the money is starting to run dry for them. They can try to keep things afloat only for so long until it will all come tumbling down on them.

I just hope CR’s reason for about turn on nationalizing SARB is because Moody’s informed them downgrade is coming.

Yes I know it’s crap for everyone but personally I think the quicker SA is bankrupt and the cleptocrats shown for that they are, the better the chance of SA correcting itself. Though let’s be honest, no country in Southern Africa has ever done so this far.

 

[Lew Skannen]

I just hope CR’s reason for about turn on nationalizing SARB is because Moody’s informed them downgrade is coming.

Yes I know it’s crap for everyone but personally I think the quicker SA is bankrupt and the cleptocrats shown for that they are, the better the chance of SA correcting itself. Though let’s be honest, no country in Southern Africa has ever done so this far.

And, this is where the problem lies. I doubt South Africa can correct itself. In fact, the ANC cannot even run a proper first-world class infrastructure, so they have absolutely zero ability, skills, experience or qualifications to correct anything at all. South Africa will find itself in exactly the same situation as Zimbabwe, most probably even worse off. Zimbabweans at least had a place they could flee to and now head back to again. I doubt they will accept fleeing South Africans with open arms. Even the zombie apocalypse may be a reality for this country when everything goes down.