South Africa: Public Broadcaster Says Its On The Way To Financial Prosperity
Following recent developments within the South African Broadcasting Corporation (SABC) - which has seen the public broadcaster receiving enormous negative if at time unfair publicity - the SABC has reportedly recently about more favourable business performance.
The SABC has announced it was firmly back on the road to profitability after years of financial losses and restructuring. The Chief Financial Officer, Yolande van Biljon said the SABC management team was feeling motivated and empowered in working toward the materialisation of its projections.
Van Biljon told the Members of the South African Parliament that the revenues were projected to grow by 28% for the financial year 2022, 17% for 2023 and 13% for 2024. She highlighted that the growth revenue was driven by increasing advertisement income. Van Biljon also said the SABC would profit during the same period. The Chief Financial Officer projected that the SABC would receive a record profit of approximately R150 million (US$10.6 million) in 2023 and an approximation of R350 million (US$24.7 million) by 2024.
In response, Democratic Alliance (DA) Member of Parliament (MP) Phumzile van Damme said that she welcomed SABC’s vision and enthusiasm regarding the prospects of being profitable in the next 18 months. Van Damme said that it was with great comfort to receive the presentation that highlighted the projections of SABC being profitable, especially when you take into consideration the financial implications that were experienced due to the COVID19 pandemic, which resulted in a decline in advertising.