COMMUNICATIONS Minister Ayanda Dlodlo announced in Parliament yesterday that the SABC incurred a loss of R509million in the fourth quarter. This was on top of a combined loss of more than R500m in the first and second quarters.
The SABC’s losses in the three quarters of the 2016/17 financial year now stand at R1billion - its biggest loss in a financial year.
In 2015/16, the SABC suffered a loss of R411m. It lost R395m in the previous financial year and R511m in the year before that.
Dlodlo, who was answering questions in Parliament, said the SABC would not have enough money to meet its obligations.
Inkatha Freedom Party MP Narend Singh said he was shocked by the latest loss at the SABC.
He said it was evident that the SABC’s losses would be substantial once its financial statements had been finalised.
Democratic Alliance MP Phumzile van Damme said it was an outrage that the public broadcaster had been run into the ground by the previous minister and the SABC’s former board.
Dlodlo said various measures have been implemented to mitigate the situation.
She said the broadcaster has imposed a moratorium on capex projects, was pushing for cases of suspended employees on full pay to be expedited, and has stopped using consultants.
The SABC had lost R200m as a result of the decision to implement a quota of 90-percent local content on the broadcaster’s TV channels and radio stations.
The SABC’s commercial radio stations are said to have lost a substantial amount of advertising as a result of the quota.
She said National Treasury was working with the Communications Department and the SABC to find solutions to the financial crisis.
Dlodlo denied claims by opposition parties that she was protecting the people who have brought the SABC to its knees. She said her job was to ensure that she turned the SABC around.