We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The SABC is on the verge of collapse with executives telling MPs on Tuesday that the company cannot guarantee it will be able to pay its employees’ salaries at the end of March. The broadcaster, which remains the only source of news and commentary for millions of South Africans, has requested R6.8bn from the government to stay afloat, but its bid for funding has so far been unsuccessful. However, communications minister Stella Ndabeni-Abrahams confirmed on Tuesday that the National Treasury had agreed to grant SABC interim relief. The amount of money to be granted was yet to be confirmed, the minister said. Briefing parliament’s communications portfolio committee on Tuesday, SABC CEO Madoda Mxakwe said the broadcaster’s cash flow is depleted, so it cannot honour payments to service providers, adhere to its committed contracts and commission local content productions. “The SABC cannot guarantee that it will be able to pay its employees’ salaries at the end of March 2019. Should this ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.