SABC to request R1-billion bailout

The SABC and the Department of Communications will soon make a funding request to National Treasury, according to a report in the City Press.

SABC interim board chairperson Khanyisile Kweyama said the broadcaster would make a request for close to R1 billion to pay outstanding bills.

Kweyama said the request would be made “very soon” and that the final draft of the funding proposal was being constructed.

The high cost of local content quotas imposed by Hlaudi Motsoeneng is not sustainable and the board is currently reviewing the directive, added Kweyama.

She said that National Treasury is unlikely to grant the SABC a guarantee larger than R1.5 billion.

Parliament’s communications portfolio committee recently said the SABC must also fill vacant executive-level positions in order to deal with poor performance – which will add to its expenses.

The SABC previously confirmed it made a loss of R411 million in the 2015/16 financial year.

Now read: Interim SABC board will reverse “stupid decisions”

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SABC to request R1-billion bailout