Broadcasting Services

South Africa: SABC Readies To Dispose Off Properties To Raise Funds

The South Africa Broadcasting Corporation (SABC) has reportedly announced it is prepared to end the lease agreements of the 'non-core properties' it owns in the bid to get these ready for disposal via auction early next year.
Yolande van Biljon, SABC's chief financial officer, said that "the disposal of non-core assets is part of the organisation's 'Turnaround Strategy and Target Operating Model' to ensure that the business invests in relevant assets, which are in line and focused on the core business of the public broadcaster. The selling of non-core assets will also assist in the much-needed cash injection required for the SABC to become and remain financially sustainable."
Formal announcements with regards the mechanisms such as the date of the public auction and all issues related to the disposal processes will be provided via SABC's radio, television channels and online platforms.
Reporting by suggests that the SABC intent to use public auction mechanism to sell these properties meaning that the current leaseholders, many of which are current SABC staffers will not have the right of first refusal to bid for the properties.
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