The SABC continues to sink deeper into financial crisis and is now unable to pay some of its service providers and producers. The crisis has affected key production houses that produce popular shows for the SABC. SABC CEO Madoda Mxakwe confirmed during an interview on SABC News on Wednesday night that the public broadcaster was not in a position to meet some of its financial obligations. "We are in a situation now where we are not even able to pay some of the content providers and I think it is important to note that we are looking [to ensure] … that we spend the limited resources we have responsibly to ensure that we keep the boat afloat," said Mxakwe. The SABC has also failed to raise funding from financing institutions, while it awaits the outcome of its appeal to the Treasury for a R3bn guarantee. Mxakwe said the broadcaster was looking at various immediate and long-term measures, including aggressive cost containment and diversifying revenue streams, to improve its dire financi...
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