The auditor-general has warned about the going-concern status of the SABC, noting that the public broadcaster was commercially insolvent at the end of March. The SABC tabled its 2016-17 annual report in Parliament on Tuesday showing it had received an adverse audit opinion from the auditor-general and recording a staggering loss of R1.1bn versus R593m in the previous financial year. The public broadcaster is facing its worst financial crisis and the Treasury is considering its request for a R3bn guarantee. It is feared it could collapse it fails to get the guarantee. The SABC’s huge losses were attributed partly to axed executive Hlaudi Motsoeneng’s controversial 90% local-content policy, which the interim board has since canned. It is also struggling to collect licence fees. "In the past three years there has been a decline in revenue and an increase in expenditure, which led to the entity being in a net loss position in the past two years. The decline in revenue and cash collectio...
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