SABC asks for R3bn lifeline, nothing more
Debts soar as public broadcaster struggles to pay creditors
The SABC has submitted a fresh request for a R3-billion guarantee to the Department of Communications as it struggles to pay creditors. Chairman Bongumusa Makhathini said on Thursday: "We've reworked our request for funding ... R3-billion will be sufficient." He confirmed that this application was submitted to the communications minister. Communications Minister Mmamoloko Kubayi-Ngubane said on Friday the SABC had reworked the application for a guarantee, but she had not yet formally submitted it to the Treasury. "We are in constant discussion [with the Treasury]," she said. It is understood the Treasury may demand a viable turnaround plan before considering the SABC's request. The Treasury said a guarantee application submitted by the previous interim board of the SABC through former communications minister Ayanda Dlodlo in June this year was still under consideration. "The minister will determine conditions [to the guarantee] once he considers the application." Owes millions But K...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.