Broadcasting Services

South Africa: 'SABC To Lose US$ 87Million In 2016/17 Financial Year' - Reports

According to reliable sources close to the South African Broadcasting Corporation (SABC), the organisation may announce a projected nett loss of R1.1 Billion for the fiscal year of 2016/2017.

Also, the state of SABC's finances have convinced SA's Communications Minister of the need to go to the Treasury to seek a financial bail-out package for the SABC. Sources close to the Minister say they will be sending a 'proposal to that effect' to the Treasury by the end of the week.

On another matter, the SABC reportedly spent R20 Million (US$1.5 Million) on the Gupta-owned New Age newspaper for its breakfast briefing show. This, as it turns out is in contradiction to the initial declarations that the transactions had zero financial cost to the SABC




 

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