Following yesterday’s Budget Speech from minister Tito Mboweni, the National Treasury has provided an update with regard to the country’s embattled broadcaster – the SABC.
To that end the entity explains that an estimated R1.1 billion tranche will be given to the SABC by the end of March, which is part of a larger R3.2 billion bailout that was outlined for the broadcaster.
When the bailout was first proposed, the National Treasury transferred R2.1 billion to the SABC in order for it pay some substantial outstanding bills. This remaining portion however, comes with some provisos, as the SABC has been instructed to review its policies, make investments in technology and develop initiatives for the future.
“The conditions included reviewing broadcasting sector policies to respond to advances in technology, costing the developmental mandate and evaluating opportunities for private-sector participation,” a spokesperson explained.
“The remaining R1.1 billion is expected to be transferred to the SABC by 31 March 2020,” they added.
Whether the allocated R1.1 billion will indeed be used as the Trasury has indicated, remains to be seen, but it is clear that mismanagement at the SABC has landed it in a rather dire situation.
With other state-owned (SABC is also part public) entities struggling to remain commercially viable, along with organisations like SAA costing the country billions, it will be interesting to see how much longer the government will continue to bail them out.[Image – CC 0 Pixabay]