AG warns of SABC collapse despite reduction in losses
Broadcaster expects to break even in the year ahead but auditor-general Tsakani Maluleke notes continued irregular expenditure and a slump in advertising spend and licence fee collections
The auditor-general has raised doubts about the SABC’s ability to remain in business despite the public broadcaster more than halving its losses in the most recent financial year as management continues its battle to put the state-owned entity on a sustainable path.
The company, which has previously been beset by governance and financial crises that took it to the brink of collapse, reported a net loss of R201m for the 2021/2022 financial year ended March 31, down from R530m the previous year. It expects to break even in 2022/2023 financial year, but auditor-general Tsakani Maluleke is uncertain it can continue as a going concern...
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