Yes, there is a cash crunch, SABC agrees
But the state broadcaster continues to shirk blame
The SABC’s attempts to pin the blame for its financial crisis on negative publicity from parliamentary hearings are contradicted by its own internal documents. On Thursday the SABC acknowledged for the first time that it faced a financial crisis. This is one of the key issues that the interim board will have to grapple with when it is appointed later in March. A statement issued by spokesman Kaizer Kganyago warned of imminent financial collapse and looming retrenchments if alternative sources of funding were not found. The broadcaster blamed its financial woes on a lack of government funding and its "negative portrayal" during parliamentary hearings. It also implicitly blamed the hearings for hobbling former chief operating officer Hlaudi Motsoeneng’s efforts to rescue the SABC from ruin. This is contradicted by internal documents from the SABC’s finance division seen by Business Day. They show management was warned of the looming crisis during an SABC treasury and risk committee me...
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